Page:First National Bank of DeWitt v. Cruthis.pdf/3

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1. EQUITY – ASSUMPSIT – WHEN IT WILL LIE. – Assumpsit is an action of an equitable character, liberal in form, and greatly favored by the court as a remedy; no agreement is necessary; assumpsit will he wherever the circumstances are such that the law, ex debito justitiae will imply a promise.
2. COURTS – ACTION AT LAW – CHANCERY COURT MAY RETAIN JURISDICTION TO DO COMPLETE JUSTICE AS BETWEEN PARTIES. – While an action of assumpsit, although based on equitable principles is an action at law, the law is well settled that when the chancery court has jurisdiction of a case for one purpose, it will retain jurisdiction to settle the nghts of the parties ansing out of the subject matter.
3. COURTS – UNJUST ENRICHMENT – MORE FREOUENTLY APPLIED IN COURTS OF CHANCERY. – The principle of unjust enrichment more frequently applied in courts of chancery, but is also recognized in courts of law.
4. COURTS – RESTITUTION NOT ONLY EQUITABLE REMEDY SOUGHT – CASE REVERSED & REMANDED. – Although unjust enrichment an equitable cause of action, because it is based on the alleged breach of an implied contract, it may be heard in circuit court and may be heard by a jury; however, the case here was reversed because restitution was not the only equitable remedy sought; appellant also sought an equitable lien on certain property, which is a nght to have a demand satisfied from a particular fund or specific property, an equitable lien has also been defined as a remedy that awards a nonpossessory interest in property to a party who has been prevented by fraud, accident, or mistake from securing that to which he was equitably entitled, an action on an equitable lien was histoncally heard in chancery court because it is an equitable remedy; thus, the case was reversed & remanded.

Appeal from Arkansas Circuit Court; Charles A. Yeargan, Judge, reversed and remanded.

Berry Law Firm, by: Russell D. Berry, Bradley A. Chambless, and M. Elizabeth Skinner, for appellant.

Malcolm R Smith, P.A., for appellees.

JIM HANNAH, Chief Justice. The First National Bank of DeWitt (FNB) appeals a judgment on a jury verdict and