Pursifull v. Pineville Banking Co.
Court of Appeals of Kentucky
Case 28 — PETITION ORDINARY APPEAL FROM BELL CIRCUIT COURT. The bank had a lien upon the deposit of the principal to pay the debt, and by surrendering that security it released the surety. (Morse on Banks and Banking, sections 562, 563; Faulkner v. Cumber- ’ land Valley Bank, 14 Ky. Law Rep.,923.) The case of Second National Bank of Lafayette v. Hill, 76 Ind., 223, distinguished.
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Case 28 — PETITION ORDINARY APPEAL FROM BELL CIRCUIT COURT. The bank had a lien upon the deposit of the principal to pay the debt, and by surrendering that security it released the surety. (Morse on Banks and Banking, sections 562, 563; Faulkner v. Cumber- ’ land Valley Bank, 14 Ky. Law Rep.,923.) The case of Second National Bank of Lafayette v. Hill, 76 Ind., 223, distinguished. The surety was not released by the failure of the bank to apply the principal’s deposit to the payment of the debt. (National Bank Mahaiwe v. Peck, 127 Mass., 302; Bank ü. S. v. Carneal, 2 Pet., 543; Second Nat’l…
1Opinion of the Court
JUDGE EASTIN
delivered the opinion oe the court.
This action was brought December 12, 1893, in the Bell Circuit Court, by appellee, as assignee of the Pineville Banking Company, against appellant and one Hurst, on a note executed by them December 23, 1889, and payable thirty days thereafter to the order of said banking company, and negotiable and payable at said bank. This note was discounted at and was held and owned by said bank at the time of its maturity, January 23, 1890.
Appellant filed an answer in the court below, in which he alleged, among other things, that he was merely a surety and…
2Cases cited2 opinions
- National Mahaiwe Bank v. PeckMassachusetts Supreme Judicial Court · 1879
- Second Nat'l Bank v. HillIndiana Supreme Court · 1881
3Cited by11 opinions
- Tatum v. Commercial Bank & Trust Co.Supreme Court of Alabama · 1915
- Boothe v. Farmers & Traders Nat. BankOregon Supreme Court · 1908
- Davenport v. State Banking Co.Supreme Court of Georgia · 1906
- Southern National Life Realty Corp. v. Peoples BankCourt of Appeals of Kentucky · 1917
- Lee v. First Nat. Bank of PurdonCourt of Appeals of Texas · 1923
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