Struss v. Masonic Savings Bank
Court of Appeals of Kentucky
Case 11 — PETITION EQUITY APPEAL FROM LOUISVILLE CHANCERY COURT. 1. The bank canceled the old note, on which the surety was bound, and took a new note, secured by mortgage on property of the debtor’s wife; and the surety was shown tile canceled note, and informed that he was released. The surety had nothing to do with any fraud in procuring this cancellation and release. The surety, thus released, cannot afterwards bo held liable.
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Case 11 — PETITION EQUITY APPEAL FROM LOUISVILLE CHANCERY COURT. 1. The bank canceled the old note, on which the surety was bound, and took a new note, secured by mortgage on property of the debtor’s wife; and the surety was shown tile canceled note, and informed that he was released. The surety had nothing to do with any fraud in procuring this cancellation and release. The surety, thus released, cannot afterwards bo held liable. (Carpenter v. King, 9 Mot., 511.) 2. The bank learned, the next day, that the release had been fraudulently procured; but it held the new note and*mortgage for five…
1Opinion of the Court
JUDGE PRYOR
delivered the opinion of the court.
J. C. Struss and Ms brother, EL C. Struss, executed their joint note to the appellee, the Masonic Savings Bank, for four thousand four hundred and eighty-five *64■dollars and eighty-five cents, J. C. Struss being the principal obligor, and his brother the surety.
The note had been overdue for some months when the principal, J. C. Struss, on the 13th of June, in the year 1887, had an interview with the president of the bank, in which he stated that he was on the eve of making an assignment of his property for the benefit of creditors, •and being…
2Cases cited8 opinions
- First National Bank v. GainesCourt of Appeals of Kentucky · 1888
- Stratton v. McMakinCourt of Appeals of Kentucky · 1879
- Farmers & Drovers' Insurance v. German InsuranceCourt of Appeals of Kentucky · 1881
- Allen v. SharpeIndiana Supreme Court · 1871
- Gordon v. M'CartySupreme Court of Pennsylvania · 1838
3 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Hier v. HarpsterSupreme Court of Kansas · 1907
- Northern Bank v. Farmers' Nat. BankCourt of Appeals of Kentucky · 1901
- Elsey v. Peoples BankCourt of Appeals of Kentucky · 1915
- Broughton v. SaylorCourt of Appeals of Kentucky · 1908