DeMoisey v. River Downs Investment Co.

OPINION

VANMETER, Judge.

Under KRS 372.010, a promissory note issued to cover an otherwise lawful horse-racing debt is void and unenforceable. We are called upon to decide whether an executor’s failure to disallow a claim based on such a note, within the time period prescribed by statute, converted the void debt into one required to be paid. We hold that it did, and we therefore affirm the decisions of the Campbell Circuit Court.

Prior to his death, Jean C. DeMoisey had a telephone betting account with River Downs Investment Company. Approximately two weeks prior to his death, De-Moisey signed a…