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UNION NAT. BANK OF LITTLE ROCK v. HOOPER

No. 87-239.

746 S.W.2d 550 (1988)

295 Ark. 83

UNION NATIONAL BANK OF LITTLE ROCK, Appellant, v. Joseph HOOPER, Boyd Bond, et al., Appellees.

Supreme Court of Arkansas.

March 21, 1988.

Attorney(s) appearing for the Case

David Pennington, Robert R. Ross, Little Rock, for appellant.

Charles L. Schlumberger, A. Delbert Mickel, Little Rock, for appellees.

DUDLEY, Justice.

In May of 1983, the appellant, Union National Bank of Little Rock, loaned $28,819.00 to the Hooper-Bond Company. The debt was evidenced by a promissory note and was secured by a lien on a 1983 BMW automobile. Joseph Hooper and Boyd Bond, principals in Hooper-Bond, personally guaranteed payment of the note. Twenty-eight months later, in September of 1985, Union and Hooper-Bond agreed to substitute a 1984 BMW automobile as security for the loan. In...

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