SVESTKA v. FIRST NAT. BANK IN STUTTGART

No. 80-41.

602 S.W.2d 604 (1980)

Charles SVESTKA, Appellant, v. FIRST NATIONAL BANK IN STUTTGART, Appellee.

Supreme Court of Arkansas.

Rehearing Denied August 25, 1980.


Attorney(s) appearing for the Case

Faber D. Jenkins, Lonoke, for appellant.

Carl J. Madsen, Stuttgart, Thweatt & Bayne by James M. Thweatt, Hazen, for appellee.


FOGLEMAN, Chief Justice.

Appellant Charles Svestka was an accommodation maker on a note for $30,000 lent by appellee First National Bank in Stuttgart to Joseph Griffin to purchase a 1966 Gruman AG-Cat airplane. Joseph Griffin executed a security agreement giving the bank a security interest in the plane. After Griffin had failed to pay the debt on May 1, 1977, the extended due date, and had been adjudged a bankrupt, the bank obtained possession of the plane and sold...

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