Langford v. Searcy College

• Decision Date: 03 December 1904
• Citation: 83 S.W. 944
• Parties: LANGFORD et al. v. SEARCY COLLEGE et al.
• Court: Arkansas Supreme Court

83 S.W. 944

LANGFORD et al. v. SEARCY COLLEGE et al.

Supreme Court of Arkansas.

December 3, 1904.

Appeal from White Chancery Court; Deadrick H. Cantrell, Special Chancellor.

Action by the Searcy College and others against William H. Langford and others. From a decree for plaintiffs, defendants appeal. Reversed.

J. W. Crawford and J. M. & J. G. Taylor, for appellants. S. Brundidge, Jr., for appellees.

BATTLE, J.

On the 16th day of April, 1890, a corporation was organized according to the laws of this state, and was called "The Searcy College." Its object was to increase and promote the educational facilities of the town of Searcy, by establishing and maintaining an institution of learning at that place for the education of white male persons. The capital stock of the corporation was $50,000, divided into shares of $25 each, all of which were subscribed. The corporation purchased a tract of land containing 40 acres, and built thereon a good, substantial building, and equipped and furnished it at the cost of $48,000. In establishing and maintaining an institution of learning in this building it borrowed the sum of $7,000 to defray the expenses thereby incurred, and executed a mortgage upon the land and building to secure the payment thereof. Its board of directors leased the property to R. B. Willis and G. T. Story for the term of two years, to be used for a school. Mary E. Speers, Ida Langford, her daughter, and William H. Langford, her son-in-law, assisted them in establishing and maintaining the school. It was understood that, if the school proved to be a success, they would propose to purchase the property, and that, if they acquired it, they would continue and maintain the school as a memorial to the deceased members of their family, John B. Speers and William H. Langford, Jr. The debt incurred by the loan matured, and before the two years of the lease expired proceedings were instituted in the White chancery court to foreclose the mortgage, and the court ordered that the property be sold to pay the debt, which was done, and A. W. Yarnell and Eugene Skillern became the purchasers; and the sale was approved by the court. This was in June or July, 1897. In December following Mrs. Speers and Mr. and Mrs. Langford proposed to buy the land and building. They represented that their object in purchasing was to continue the school and maintain it as a memorial to deceased relatives. The stockholders of the corporation, a majority of whom were citizens of Searcy, and interested, believing these representations, favored the sale; and Yarnell and Skillern, doubtless influenced by their wishes, sold the property to them at and for the sum and price of $8,000, and executed to them a deed in the words and figures following:

"A. W. Yarnell and Eugene Skillern to Mary E. Speers, Ida S. Langford and W. H. Langford. Warranty Deed.

"Know all men by these presents: That we, A. W. Yarnell and Anna Yarnell, his wife, and Eugene Skillern and Minnie D. Skillern, his wife, of the county of White, and State of Arkansas, for and in consideration of the sum of eight thousand dollars, to us in hand paid by Mary E. Speers, Ida S. Langford and W. H. Langford, of the county of Jefferson, in the State of Arkansas, the receipt whereof we do hereby acknowledge, do grant, bargain, sell and convey unto the said Mary E. Speers, Ida S. Langford and W. H. Langford, and unto their heirs and assigns all of a certain tract of land and certain personal property situate in the county of White, and State of Arkansas, to-wit: The northeast quarter of the northeast quarter of section nine, in township 7 north, range 7 west, containing 40 acres more or less, together with all and singular the improvements and appurtenances thereunto belonging, also all furniture, school desks, bed room furniture, kitchen furniture, apparatus and fixtures heretofore belonging to the Searcy College, and conveyed to us by A. G. Latimer, commissioner, and now situate on said premises. To have and to hold the said land and the said personal property unto the said Mary E. Speers, Ida S. Langford and W. H. Langford, and unto their heirs and assigns forever; and we, the said A. W. Yarnell, Anna Yarnell, Eugene Skillern and Minnie D. Skillern, do covenant with the said Mary E. Speers, Ida S. Langford and William H. Langford, and with their heirs and assigns that we are lawfully seized in fee of said lands, that it is free from all incumbrance, that we have lawful right to convey same; and that we will and our heirs, executors and administrators shall, forever warrant and defend the title to said land and personal property against the lawful claims of all persons whomsoever. And we, Anna Yarnell and Minnie Skillern do hereby release and relinquish unto the said Mary E. Speers, Ida S. Langford and W. H. Langford, and unto their heirs and assigns, all our right, claim or...