Trapnall's adx. v. State Bank

18 Ark. 53
CourtSupreme Court of Arkansas
DecidedJuly 15, 1856
StatusPublished
Cited by6 cases

This text of 18 Ark. 53 (Trapnall's adx. v. State Bank) is published on Counsel Stack Legal Research, covering Supreme Court of Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Trapnall's adx. v. State Bank, 18 Ark. 53 (Ark. 1856).

Opinion

Mr. Chief Justice English

delivered the opinion of the Court.

On the 29th of September, 1848, Frederick W. Trapnall filed a bill for injunction, and to quiet title, etc!, against the Bank of the State, in the Pulaski Circuit Court, alleging in substance, as follows:

On the'22d November, 1843, Richard C. Byrd and wife, and William J. Byrd and wife, executed a mortgage to the Bank, with power of sale, on lots 1, 2, 3, 4, 5 and 6, in block 2, in the city of Little Rock, East of the Quapaw line, to secure the payment of a note for $13,375, which the Byrds had made to the Bank, on the same day, due at twelve months, subject to renewal.

On the 3d of March, 1835, all of said lots were conveyed by Governor Pope to Wm. J. Byrd.

On the-day of- 1840, William J. Byrd conveyed to Richard C. Byrd, lot 6, and 12 feet off of the west side of lot 5.

The lots remained in the possession of the Byrds, who had made valuable improvements thereon, until the said conveyance to the Bank, and up to the sale of them by the Marshal, as hereafter stated.

On the 20th of May, 1842, Trapnall & Cocke recovered two judgments in the Pulaski Circuit Court against William J. Byrd: on which, executions issued 25th February, 1845, were levied b3' tlie Sheriff upon all of said lots, which were sold on the 25th of April following, and purchased by Frederick W Trapnall, the complainant, for $225, who took the Sheriff's deed therefor.

After this, Richard C. Byrd, and E. L. Johnson, the attorney of the Bank, representing to complainant, that the said debt due by the Byrds to the Bank would be lost, unless she could get the title to the lots, acquired as aforesaid by complainant, proposed to him that the Bank should pay to him the amount of the two judgments of Trapnall & Cocke against Wm. J. Byrd, and take a deed for lots 1, 2, 3, 4, and the east half of 5; to which complainant consented; and on the 20th of June, 1845, Thornton, the Financial Receiver of the Bank, paid to complainant $1,075, the amount of said judgments; whereupon, complainant and wife executed to the Bank a deed for said lots, 1, 2, 3, 4, and the last half of 5.

By which sale, purchase, and deed from the Sheriff to complainant, and deed from him and wife to the Bank, it is averred, the title of the Byrds to said lots was extinguished; and all their right, title and interest vested in the Bank.

That at the time it was agreed, as aforesaid, that the Bank should pay off said judgments, and receive a title from complainant to said lots, it was agreed and understood verbally between the Bank and Richard C. Byrd, that the Bank should have the property valued by two persons, one selected by Byrd, and the other by the Bank, and when valued, the Bank should have credit on the amount of the valuation for the sum paid by her, as aforesaid, to complainant, and that the residue of the valuation should be placed to the credit of said Richard 0. and Wm. J. Byrd, upon their said note to the Bank: but for some cause or other the valuation had not been made.

On the 23d of April, 1045, the United States recovered judgment against the Bank in the Circuit Court of the U. S., for the district of Arkansas; execution was issued thereon, on the 1st Nov. 1845, and on the same day levied by the Marshal of the district on the whole of said lots 1, 2, 3, 4, 5 and 6, which were sold by him on the 13th April, 1846, and purchased by complainant at $1,400, and conveyed to him by the Marshal.

That Richard C. and W. J. Byrd had wholly failed, up to and at the time when said levy and sale were made, to pay to the Bank any one of the instalments on their said note, or to renew the same according to the regulations of the Bank, and the conditions of said deed (of mortgage,) so made by them as aforesaid, had in no respect been performed by them, and the mortgage had been forfeited, and the title to said lots had vested, by said failure of the Byrds, in the Bank; and that the entire interest of the Bank in said lots was properly and according to law subject to said execution.

That possession of the premises was delivered to complainant under his purchase, as aforesaid, and he had since expended large sums of money in making improvements thereon.

That the Bank had refused to acquiesce in the title of complainant, and was proceeding to have the lots sold under the mortgage, etc.

Prayer that the bank be enjoined from selling the lots under the mortgage, and that the title of complainant be quieted.

The answer of the Bank admits the execution of the mortgage to the Bank, by the Byrds, as alleged in the bill, — the conveyance of the lots by Gov. Pope to Wm. J. Byrd — that he, when a minor, in the year 1838, conveyed to his father, Richard 0. Byrd, lot 6, and twelve feet off of the west side of lot 5; but respondent avers that this deed was made without consideration, and was a fraud in law.

Admits the recovery of the two judgments by Trapnall & Cocke against Wm. J. Byrd in the Pulaski Circuit Court (the complainant being the same Trapnall,) but avers that said Wm. J. was a minor, of tender years, at that time, and that the Statute in that behalf was not complied with, and that said judgments, and all proceedings had under them, were absolutely void.

Admits that respondent paid to complainant the amount of said judgments, and took from him and wife a conveyance of said lots, as stated in the bill; but avers that she, (the Bank) believed at the time that the title of complainant and his right to convey were good and perfect, when in truth, his title was worthless, and that respondent paid him the money, and took said conveyance, under a mistake, and in equity and good conscience was entitled to relief in the premises.

Respondent denies that the said sale and purchase, and deed from the Sheriff to complainant, and from him to her, extinguished the title of Wm. J. Byrd to said lots, and vested it in her, as alleged, but respondent avers that the whole proceedings, which resulted in the conveyance, by complainant and wife, to her, of lots 1, 2, 3, 4, and the east half of lot 5, were null and void.

Knows nothing of any agreement or understanding between the_Bank and Richard C. Byrd in regard to the valuation of the property, as alleged in the bill, but denies that any such agreement or understanding, was entered into.

Admits the recovery of the judgment by the United States against the Bank, issuance of execution thereon, levy upon and sale of all the lots by the Marshal, purchase by, and conveyance to complainant, as alleged: but denies that the Bank held any property in the lots subject to execution: her only title being the mortgage of the Byrds, which had not been foreclosed, nor the lots sold under the power of sale contained therein. Respondent denies that the failure of the Byrds to comply with the conditions of the mortgage, forfeited their right and title in equity, or vested the absolute title to the lots in the Bank, so as to subject them to execution as her property.

Respondent admits that complainant obtained possession of the lots as alleged, but does not know, nor does she believe, that he has made any improvements thereon.

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Bluebook (online)
18 Ark. 53, Counsel Stack Legal Research, https://law.counselstack.com/opinion/trapnalls-adx-v-state-bank-ark-1856.