Title Ins. & Trust Co. v. Louisville Presbyterian Theological Seminary

Opinion op the Court by

Judge Clay

Affirming.

The Louisville Title Company was engaged in the business of insuring titles, and also the business of selling and guaranteeing real estate bonds. Owing to the fall of real estate values during the depression, the company became • insolvent and - the Fidelity & Columbia Trust Company was appointed receiver, and thereafter its assets passed to the Title Insurance & Trust Company, Trustee.

On January 3, 1929, the company loaned to Edward F. Weigel and Alice W. Weigel $25,000, for which twenty-five $1,000 bonds were issued, secured by a mortgage on…