Board of Trustees v. Chesapeake, Railroad
Court of Appeals of Kentucky
Case 66 — PETITION ORDINARY — 1. While it may be true that a purchaser of a railroad at a decretal sale takes it freed from the indebtedness of the former company unsecured by mortgage, and free from mere personal obligations, yet this is not an indebtedness of the former company, but a claim for unliquidated damages for an injury inflicted by the present company by the violation of a contract which is not of a mere personal nature, but one of graver dignity, and equal, if…
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Case 66 — PETITION ORDINARY — 1. While it may be true that a purchaser of a railroad at a decretal sale takes it freed from the indebtedness of the former company unsecured by mortgage, and free from mere personal obligations, yet this is not an indebtedness of the former company, but a claim for unliquidated damages for an injury inflicted by the present company by the violation of a contract which is not of a mere personal nature, but one of graver dignity, and equal, if not superior, to any contract the company could have made, since it brings into existence the very creature itself and…
1Opinion of the Court
JUDGE LEWIS
DELIVERED THE OPINION OF THE COURT.
In 1867 the Elizabethtown and Padncali Railroad Company was incorporated, with power to construct and operate a railroad between those places ; and the board of trustees of Elizabethtown, having first sub mitted the proposition to voters thereof, made, on behalf of the. town, a subscription of seventy-five thousand dollars to capital stock of the company, upon condition of the road being constructed, and also that the company build .machine shops in Elizabethtown, and if it failed to do so the subscription to be mid.
Subsequently the subscription…
2Cases cited1 opinion
- Chesapeake, Ohio & Southwestern Railroad v. GriestCourt of Appeals of Kentucky · 1887
3Cited by2 opinions
- Louisville & Nashville Railroad v. Johnson's AdministratrixCourt of Appeals of Kentucky · 1925
- Louisville & Interurban R. R. v. CallahanCourt of Appeals of Kentucky · 1911