Wicks Bros. v. McConnell
Court of Appeals of Kentucky
Case 69 — PETITION EQUITY 1.- An unrecorded mortage or a bond for title has precedence over a lien created by execution or attachment where actual notice has been given the creditor before the sale under the execution or attachment.
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Case 69 — PETITION EQUITY 1.- An unrecorded mortage or a bond for title has precedence over a lien created by execution or attachment where actual notice has been given the creditor before the sale under the execution or attachment. Baldwin v. Crow, 86 Ky., 679; Schmidt v. Carter, 95 Ky.. 4. 2. A mortgagee who takes a mortgage to secure a precedent or ■ pre-existing debt is not a purchaser without notice. • Drake v. Elman, 80 Ky., 434; Merritt v. Northern R. R. Co., 12 Barb., 605; Webster v. Vansteenbeigh, 46 Barb., N. Y., 211; Perry on Trusts, page 218; Wood v. Robinson, 22 N. Y., 654; Carey…
1Opinion of the Court
•JUDGE DuREDLE
delivered the opinion of the .court.
In August, 1893, appellants, Wicks Bros., sold ■ to Valley •& Son some $1,400 worth of machinery, and the' latter firm •executed an instrument, such as in the case of Baldwin & Co. v. Crow (86 Ky., 680), and other cases has been held to have the effect of a mortgage back to the vendor to secure the unpaid purchase money. This instrument was not recorded. For the purpose of paying the freight on the ma•chinery and putting it in running order, Valley & Son obtained a loan from appellee, McConnell, of some $475, representing, as claimed by him,…
2Cases cited3 opinions
- Greer v. Church & Co.Court of Appeals of Kentucky · 1877
- Low v. BlincoCourt of Appeals of Kentucky · 1874
- Schmidt v. Carter's Adm'rCourt of Appeals of Kentucky · 1893
3Cited by26 opinions
- Wender Blue Gem Coal Co. v. Louisville Property Co.Court of Appeals of Kentucky · 1910
- In re DuckerCourt of Appeals for the Sixth Circuit · 1905
- Clift v. WilliamsCourt of Appeals of Kentucky · 1899
- Moorman v. BeardCourt of Appeals for the Sixth Circuit · 1907
- Munz v. National Bond Investment CompanyCourt of Appeals of Kentucky (pre-1976) · 1932
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