NATIONAL BEDDING & FURNITURE INDUSTRIES, INC. v. CLARK

No. 5-5889.

481 S.W.2d 690 (1972)

NATIONAL BEDDING & FURNITURE INDUSTRIES, INC., et al. Appellants, v. Drew M. CLARK et al. Appellees.

Supreme Court of Arkansas.

Rehearing Denied July 17, 1972.


Attorney(s) appearing for the Case

C. W. Knauts, Piggott, for appellants.

Burris & Berry, Pocahontas, for appellees.


HARRIS, Chief Justice.

This litigation relates to the question whether a mortgagee or judgment creditors are entitled to the proceeds of an insurance policy taken out by the mortgagor. In August, 1967, Drew Clark and Doris Clark, appellees herein, loaned their son, B. G. Clark, the sum of $14,615.53, and in addition co-signed a promissory note in favor of the Corning Bank. Young Clark used these funds to purchase an existing furniture store business situated in Corning...

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