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AMERICAN INSURERS LIFE INSURANCE CO. v. REGENOLD

No. 5-4297.

423 S.W.2d 551 (1968)

243 Ark. 906

AMERICAN INSURERS LIFE INSURANCE COMPANY et al., Appellants, v. J. E. REGENOLD, Appellee.

Supreme Court of Arkansas.

Rehearing Denied February 26, 1968.

Attorney(s) appearing for the Case

Patten & Brown, by Chas. Brown, Little Rock, and E. J. Butler, Forrest City, for appellants.

E. J. Ball, Fayetteville, and Oscar Bendler, Blytheville, for appellee.

GEORGE ROSE SMITH, Justice.

In 1960 the appellee's father, E. M. Regenold, lent $17,892.23 to the principal appellant, American Insurers Life Insurance Company, to enable that company to avert the foreclosure of a mortgage upon 4,495 acres of farm land owned by American Insurers in Mississippi. The elder Regenold gratuitously assigned the contract to his son, who brought this suit to enforce a provision in the contract by which the lender was to receive, in addition...

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