Smith v. Dixo Ark. S.Ct.,

386 S.W.2d 244, 238 Ark. 1018 (1965).

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Nature of the Case

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Facts

Ds are E. F. Smith, his wife, and their children and spouses. This entire family constitutes a business firm known as E. F. Smith & Sons, A Partnership. A 'Contract For Sale Of Realty With Lease' was signed by W. R. Smith (D1), on behalf of the family partnership. The partnership agreed to sell the 750-acre 'Cracraft' plantation for $200,000.00 and convey title to P on January 3, 1963. By the lease provisions, P took possession, farmed, and improved a portion of the property. Upon refusal of D to convey the land P instituted this action. The chancellor denied specific performance and awarded P special damages in the amount of $11,512.73. D contends that the contract 'prepared for signature of all owners, their wives, and the escrow agent, was never executed and, therefore, no obligation was incurred thereunder' and, further, the contract was never ratified by the owners of the land. The contract was signed 'E. F. Smith & Sons, a partnership by D1' P recorded the instrument without ever requiring the additional signatures.