GNAS v. BURGER & ASSOCIATES, INC.

No. 88-73.

750 S.W.2d 58 (1988)

295 Ark. 569

Arthur F. GNAS and Ethelmae Gnas, Appellants, v. BURGER & ASSOCIATES, INC., Appellee.

Supreme Court of Arkansas.

May 31, 1988.


Attorney(s) appearing for the Case

Gary D. Jackson, Dallas, Tex., Michael R. Landers, El Dorado, for appellants.

Gary D. McDonald, John W. Unger, Jr., El Dorado, for appellee.


DUDLEY, Justice.

The primary issue in this case is whether the appellants' mortgage or the appellee's mortgage has priority. The chancellor held that the appellee's mortgage is entitled to priority. We affirm that holding.

The debtor, Moro Bay Oil Company, Inc., gave two promissory notes to the Smackover State Bank, which were subsequently assigned to the appellee, Burger & Associates, Inc. The notes were secured by a mortgage and assignment of oil runs...

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