U. S. Bldg. & Loan Assn's Assignee v. Reed
Court of Appeals of Kentucky
Case 104 — Action on a Promissory Note — APPEAL FROM OWEN CIRCUIT COURT. Judgment for Defendant and Plaintiff Appeals. The first and only proposition: The appellee has no more, other or greater rights, than any .other borrowing member of the association, and that after the assignment of the U. S. B. & L. Association to this appellant, and suit by the assignee to enforce the collection of the debt owing by the appellee, he can only have the amount paid in interest .and…
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Case 104 — Action on a Promissory Note — APPEAL FROM OWEN CIRCUIT COURT. Judgment for Defendant and Plaintiff Appeals. The first and only proposition: The appellee has no more, other or greater rights, than any .other borrowing member of the association, and that after the assignment of the U. S. B. & L. Association to this appellant, and suit by the assignee to enforce the collection of the debt owing by the appellee, he can only have the amount paid in interest .and premiums, applied to the debt, and all amounts paid in stock must await the final .adjustment, and he take the pro rata…
1Opinion of the Court
Opinion of the court by
JUDGE DuRELLE
Reversing.
In April, 1891, appellee subscribed for five shares of stock in the United States Building & Loan Association, and paid $3 per month upon his subscription until February, 1892, when he obtained a loan from the association, executing a note and mortgage for $400, and from that time until March, 1897, continued to pay $3 per month on his stock subscription, and in addition paid $4 per month *876as interest and premium on Ms note. In February, 1897, the United State® Building and Loan Association made an assignment to the Columbia Finance and Trust…
2Cases cited3 opinions
- Adkins v. CommonwealthCourt of Appeals of Kentucky · 1897
- Simpson v. Kentucky Citizens Building & Loan Ass'nCourt of Appeals of Kentucky · 1897
- Rogers v. RainsCourt of Appeals of Kentucky · 1896
3Cited by4 opinions
- Dubee, Receiver v. FeinsteinSupreme Court of Rhode Island · 1938
- Globe Building & Loan Co.'s Assignee v. SpillmanCourt of Appeals of Kentucky · 1901
- Vinton v. National Building & Loan Ass'nCourt of Appeals of Kentucky · 1902
- Wills v. Paducah Building & Loan Ass'nCourt of Appeals of Kentucky · 1902