The common law of England, so far as it is applicable and of a general nature, and all statutes of the British Parliament in aid of or to supply the defects of the common law made prior to March 24, 1606, which are applicable to our own form of government, of a general nature and not local to that kingdom, and not inconsistent with the United States Constitution and the laws of the United States or the Arkansas Constitution and laws of this state, shall be the rule of decision in this state unless altered or repealed by the General Assembly of this state.