Kentucky Trust Co. v. Third National Bank
Court of Appeals of Kentucky
Case 24 — ACTION TO FORECLOSE' MORTGAGE — APPEAL FROM JEFFERSON CIRCUIT COURT, CHANCERY DIVISION. The agreement by the obligor, embraced in this deed of trust for the appellant of a reasonable attorney’s fee and compensation to the .trustee, is neither usurious- nor against public policy. New-port & Cin. Br.
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Case 24 — ACTION TO FORECLOSE' MORTGAGE — APPEAL FROM JEFFERSON CIRCUIT COURT, CHANCERY DIVISION. The agreement by the obligor, embraced in this deed of trust for the appellant of a reasonable attorney’s fee and compensation to the .trustee, is neither usurious- nor against public policy. New-port & Cin. Br. Co. v. Douglass, &c., 12 Bush, 721; Clark v. Anderson, 13 Bush, 116; Lawson’s Rights, &c., vol. 5, secs. 24-48, 2458, 2392, 2447; Idem, vol. 4, sec. 2032; Flint on Trusts & Trustees, sec. 342; Witherspoon v. Mu-sselman, 14 Bush, 214: Greenhood on Public Policy, p. 21; 18 Ohio St., 190,…
1Opinion of the Court
JUDGE HOBSON
delivered the opinion of the court.
On December 27, 1895, John E. Carpenter executed to appellant a deed of mortgage as trustee for the bondholders to secure bonds tó the amount of $5,000. It was stipulated in the mortgage that in case of the sale of the property under the lien retained in it, appellant should pay out of the proceeds all such sums as it might have been necessary to pay counsel in that behalf, and a reasonable compensation for its services as trustee. On April 22, 1897, appellant filed suit as trustee to foreclose the mortgage, making defendants to the petition the,…
2Cases cited4 opinions
- Gaar v. Louisville Banking Co.Court of Appeals of Kentucky · 1874
- Witherspoon v. MusselmanCourt of Appeals of Kentucky · 1878
- Rilling v. ThompsonCourt of Appeals of Kentucky · 1876
- Thomasson v. TownsendCourt of Appeals of Kentucky · 1873
3Cited by5 opinions
- First National Bank v. HarperSupreme Court of Kansas · 1946
- Barnett v. Bank of CommerceCourt of Appeals of Kentucky (pre-1976) · 1936
- Mutual Trust & Deposit Co. v. BooneCourt of Appeals of Kentucky (pre-1976) · 1954
- McGlone v. SmithCourt of Appeals of Kentucky (pre-1976) · 1943
- Brand v. PryorCourt of Appeals of Kentucky · 1909