Cin. Leaf Tob. Warehouse v. Combs
Court of Appeals of Kentucky
Case 6 — Action to Enforce Chattel Mortgage APPEAL FROM PAYETTE CIRCUIT COURT. Judgment por Dependants and Plaintipp Appeals. CNo orief in record.) POINTS AND AUTHORITIES. (1) A mortgage to secure an existing ascertained debt, which fails to state the amount thereof, is not a recordable instrument, and therefore, is inoperative and void as to the creditors of the mortgagor, or an assignee for the benefit of such creditors. ,Sec. 496 Ky. Stats.; sec. 74 and 84, Ky.
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Case 6 — Action to Enforce Chattel Mortgage APPEAL FROM PAYETTE CIRCUIT COURT. Judgment por Dependants and Plaintipp Appeals. CNo orief in record.) POINTS AND AUTHORITIES. (1) A mortgage to secure an existing ascertained debt, which fails to state the amount thereof, is not a recordable instrument, and therefore, is inoperative and void as to the creditors of the mortgagor, or an assignee for the benefit of such creditors. ,Sec. 496 Ky. Stats.; sec. 74 and 84, Ky. Stats.; sec. 2358 Ky. Stats; Pearce, &e., v. Hall, 12 Bush, 208; Morris v. Murray, 82 Ky., 44; Thompson v. Thompson, 16 Ky. Law…
1Opinion of the Court
*23OPINION OF THE COURT BY
JUDGE HOBSON
REVERSING.
Appellant filed this suit to foreclose a mortgage given to it by Leslie Combs. Appellee, the Security Trust & Safety Vault Company of Lexington, Ky., to whom Leslie Combs had assigned all his property in trust for the equal benefit of his creditors, was also made a defendant to the action, and insists that the mortgage is void for uncertainty. The objection to the mortgage is that it fails to state the sum of money it was given to secure. In Pearce v. Hall, 12 Bush, 209, this court, in a similar case, said: “It is the policy of our law to require…
2Cases cited7 opinions
- Baldwin & Co. v. CrowCourt of Appeals of Kentucky · 1888
- Wicks Bros. v. McConnellCourt of Appeals of Kentucky · 1897
- Clift v. WilliamsCourt of Appeals of Kentucky · 1899
- Kentucky National Bank v. Louisville Bagging Co.Court of Appeals of Kentucky · 1895
- Exchange & Deposit Bank v. StoneCourt of Appeals of Kentucky · 1882
2 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- In re DuckerCourt of Appeals for the Sixth Circuit · 1905
- Munz v. National Bond Investment CompanyCourt of Appeals of Kentucky (pre-1976) · 1932
- In re WatsonDistrict Court, E.D. Kentucky · 1912
- Cheatham v. Tennell's AssigneeCourt of Appeals of Kentucky · 1916
- Hauseman Motor Company v. NapierellaCourt of Appeals of Kentucky (pre-1976) · 1928
4 more not listed; retrieve them via the Exa API.