Cotton v. Graham
Court of Appeals of Kentucky
Case 86 — PETITION EQUITY APPEAL FROM LOUISVILLE LAW AND EQUITY COURT. I. As a written promise to pay imports a valuable consideration, and the obligation sued on recites the fact that it was executed as well for “value received,” as for love and affection, the demurrer should have been overruled, and the defendants required to aver and prove the want of a valuable consideration. II.
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Case 86 — PETITION EQUITY APPEAL FROM LOUISVILLE LAW AND EQUITY COURT. I. As a written promise to pay imports a valuable consideration, and the obligation sued on recites the fact that it was executed as well for “value received,” as for love and affection, the demurrer should have been overruled, and the defendants required to aver and prove the want of a valuable consideration. II. The acceptance of the trust by Cotton, and his agreement to execute it. constitute in law a valuable consideration. 1. The consideration for a promise to pay money need not pass from the obligee to the obligor;…
1Opinion of the CourtChief Justice Pryor
delivered the opinion op the court. ’
The appellees, who describe themselves as legatees of Samuel Parker, deceased, executed to Charles B. Cotton, as trustee for Amelia Parker, wife of Wm. Parker, deceased, their joint and several obligation for the sum of five thousand dollars, payable on the firs t. of March, 1875. The consideration of the obligation is “for value-received, and out of love and affection we have for her as the wife of our brother, Wm. Parker, deceased.” They further agreed to secure the payment of the promised sum by executing a mortgage to the trustee on a tract of…
2Cases cited6 opinions
- Butler v. ButlerCourt of Appeals of Kentucky · 1823
- Ford v. EllingwoodCourt of Appeals of Kentucky · 1860
- M'Intire v. HughesCourt of Appeals of Kentucky · 1815
- Buford's Heirs v. McKeeCourt of Appeals of Kentucky · 1833
- Graves v. GravesCourt of Appeals of Kentucky · 1846
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Godley v. Piedmont Land Sales, Inc.District Court, E.D. Kentucky · 1978