Colcord v. Seamonds
Court of Appeals of Kentucky
Error to the Bourbon Circuit. ¡(Chan-c-ery. Case 52. The .case stated, Decree of the Circuit Court. H. purchased of C. a tract of land and gave his note for part of the price to S. to whom C. was indebted, and C. gave H. credit for the amount.
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Error to the Bourbon Circuit. ¡(Chan-c-ery. Case 52. The .case stated, Decree of the Circuit Court. H. purchased of C. a tract of land and gave his note for part of the price to S. to whom C. was indebted, and C. gave H. credit for the amount. H. íailing, C. took hack the land at a less price and sold it to S. tor a less price than H. had agreed to give — Held that without an agreement to that effect, no lien attaches in favor of S. which would not be subordinate to the lien of C. for the sum due to him for the consideration unpaid.
1Opinion of the Court
Jodoe Breck
delivered the opinion of the Court
In 1840, Colcord sold and conveyed to Silas Hedges a tract of land in the county of Bourbon, for about twenty five thousand dollars, which, as recited in the deed, was “in band paid and secured to be paid.” At the time of this sale, Seamonds held anote upon Colcord for $533 09, due 1st March, 1842, and at the instance of Colcord, he agreed, and did take the note of Hedges for .the same amount, and due at same time, in lieu of his note upon Colcord. Upon receiving the note of Hedges, Seamonds surrendered to Colcord bis note, who thereupon credited…
2Cited by3 opinions
- Elswick v. MatneyCourt of Appeals of Kentucky · 1909
- Harlan's Admr. v. BrownCourt of Appeals of Kentucky · 1866
- Zachem v. S. G. Adkins & SonCourt of Appeals of Kentucky (pre-1976) · 1929