Louisville Banking Co. v. Leonard
Court of Appeals of Kentucky
Case 15 — PETITION EQUITY APPEAL FROM LOUISVILLE LAW AND EQUITY COURT. 1. A mortgage given to secure future advancements to the mortgagor is a. valid and enforceable contract. (Shirras v. Craig, 7 Cranch, 50 (1812); Conrad v. Atlantic Ins.
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Case 15 — PETITION EQUITY APPEAL FROM LOUISVILLE LAW AND EQUITY COURT. 1. A mortgage given to secure future advancements to the mortgagor is a. valid and enforceable contract. (Shirras v. Craig, 7 Cranch, 50 (1812); Conrad v. Atlantic Ins. Co., 1 Peters, 448 (1829); Lawrence v. Tucker, 23 Howard, 22 (1859); Robinson v. Williams, 22 N. Y., 380 (1860); Eassett v. Smith, 23 N. Y., 252 (1861); McKnister v. Babcock, 26 N. Y., 278 (1863); Miller v. Lockwood, 32 N. Y, 293 (1865); Brown v. Kieffer, 71 N. Y., 610 (1887); Spear v Skinner, 35 111., 291 (1864); 11 Am. Law Reg. (N. S.), 273 (Mitchell,…
1Opinion of the Court
JUDGE HOLT
delivered the opinion of the court.
Prior to April 22, 1886, P. J. Duile, wlio was then a furniture manufacturer, had been in the habit of discounting the notes which he took from his customers-with the appellant, the Louisville Banking Company. About the time named he wished to discount to the bank more paper upon one of his patrons than it was willing to accept upon one person. To induce it to do so he executed to it his note for five *109thousand dollars, dated April 22, 1886, and due one year thereafter; and, to secure its payment, a mortgage, absolute in its terms, and in which his…
2Cases cited1 opinion
- Shirras & Others v. Caig & MitchelSupreme Court of the United States · 1812
3Cited by13 opinions
- Castleman-Blakemore Co. v. Pickrell & Craig Co.Court of Appeals of Kentucky · 1915
- W. P. Fuller & Co. v. McClureCalifornia Court of Appeal · 1920
- Lanier v. Union Mortgage, Banking & Trust Co.Supreme Court of Arkansas · 1897
- Temple v. HamiltonSupreme Court of Arkansas · 1928
- Jarboe v. ShiveleyCourt of Appeals of Kentucky · 1900
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