Bull v. Kentucky National Bank
Court of Appeals of Kentucky
Case 73 — PETITION EQUITY APPEAL FROM LOUISVILLE CHANCERY COURT. 1. Trust estates were not liable to execution at common law. (Ereeman on Executions, 187; Thomas v. Marshall, Hardin, 19; Allen v. Saunders, 2 Bibb, 94.) 2. By statute in Kentucky estates of every kind hold in trust are subject to the debts of the person for whose benefit they are held.
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Case 73 — PETITION EQUITY APPEAL FROM LOUISVILLE CHANCERY COURT. 1. Trust estates were not liable to execution at common law. (Ereeman on Executions, 187; Thomas v. Marshall, Hardin, 19; Allen v. Saunders, 2 Bibb, 94.) 2. By statute in Kentucky estates of every kind hold in trust are subject to the debts of the person for whose benefit they are held. (More-head & Brown, p. 443; Gen. Stats., chap. 63, art. 1, sec. 21.) 3. The right of alienation and the liability to debts are necessary incidents of freehold estates, and a clause restricting this right or liability is void. (Brandon v.…
1Opinion of the Court
JUDGE PRYOR
delivered the opinion op the court.
These consolidated actions were heard together, and a judgment rendered for the bank. The defense relied on by the appellant is, that the bank (appellee) agreed that new notes should be executed for the old notes then owing, and that William Cromey’s name as an individual indorser' should be substituted in lieu of his name as executor and trustee of Bull’s estate, thereby releasing the estate of Bull from any and all responsibility upon the paper. This new paper was •executed in January of the year 1886, and was given, as defendants allege, for…
2Cases cited2 opinions
- Nichols v. EatonSupreme Court of the United States · 1875
- White v. ThomasCourt of Appeals of Kentucky · 1871
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- In re Luscombe's WillWisconsin Supreme Court · 1901
- Bottom v. FultzCourt of Appeals of Kentucky · 1907
- Brock v. ConkwrightCourt of Appeals of Kentucky · 1918
- Hartwell v. Mobile Towing & Wrecking Co.Supreme Court of Alabama · 1924
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