Richardson v. Chanslor's Trustee
Court of Appeals of Kentucky
Case 62 — PETITION EQUITY APPEAL PROM MASON CIRCUIT COURT. 1. According to sec. 2543 of the Ky. Statutes, which says that the provisions of the chapter concerning limitations shall not apply in, a case of continuing and subsisting trust, an assignment for the benefit of creditors is such a trust as will continue and subsist so long as the trust property remains in the hands of the trustee undisposed of, and the rights of creditors thereto are clear and certain.
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Case 62 — PETITION EQUITY APPEAL PROM MASON CIRCUIT COURT. 1. According to sec. 2543 of the Ky. Statutes, which says that the provisions of the chapter concerning limitations shall not apply in, a case of continuing and subsisting trust, an assignment for the benefit of creditors is such a trust as will continue and subsist so long as the trust property remains in the hands of the trustee undisposed of, and the rights of creditors thereto are clear and certain. Central Law Journal, vol. 6, page 283 and cases cited; 1st Perry on Trusts, sec. 24; Pomeroy’s Equity Jurisprudence, secs. 981 and…
1Opinion of the Court
JUDGE GUFFY
delivered the opinion op the court.
It appears from this record that on the 5th day of February, 1886, Wm. Chanslor executed a deed of assignment to the appellee, Whitaker, of all of his individual property for the benefit of his creditors, and that Whitaker accepted said trust. This suit .was instituted 25th of January, 1895.
It is substantially alleged in the petition that on the '20th of April, 1865, appellant was an infant, under twenty-one years of age, and that Charles B. Coons and Wm. Chanslor executed to John A. Keith, who was then appellant’s guardian, their note for…
2Cases cited5 opinions
- Hargis v. Sewell's AdministratorCourt of Appeals of Kentucky · 1888
- In re the Insolvent Estate of LeimanCourt of Appeals of Maryland · 1870
- Allen v. FromanCourt of Appeals of Kentucky · 1894
- Hoffert v. MillerCourt of Appeals of Kentucky · 1888
- Robinson's Committee v. Elam's Ex'rCourt of Appeals of Kentucky · 1890
3Cited by4 opinions
- Price's Admx. v. Price's AdministratrixCourt of Appeals of Kentucky · 1901
- Sam v. LudtkeCourt of Appeals of Texas · 1918
- Anderson v. VanRensselaerCourt of Appeals of Kentucky · 1919
- Freiberg v. PierceCourt of Appeals for the Tenth Circuit · 1936