Lee v. Marion National Bank
Court of Appeals of Kentucky
Case 6 — PETITION EQUITY — '"he account of A. K. Bussell, collector, was a fiduciary account, and the alleged arrangement between the bank and Bussell by which the private debt of Bussell was to be liquidated out of that fiduciary account was unlawful.
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Case 6 — PETITION EQUITY — '"he account of A. K. Bussell, collector, was a fiduciary account, and the alleged arrangement between the bank and Bussell by which the private debt of Bussell was to be liquidated out of that fiduciary account was unlawful. (Addison on Contracts, sec. 824.) Bussell simply deposited his money in bank as any other ordinary depositor, and the uncontradicted proof is, that as a depositor he directed this money to be applied to the payment of a balance due on his seven thousand dollar loan. But the bank had the right, even without Bussell’s direction, to make this…
1Opinion of the Court
-JUDGE LEWIS
DELIVERED THE OPINION OF THE COURT.. A. K. Russell was sheriff of Marion county for the years 1885-6, and in virtue of his office collector of revenue and county levy. He was also, for the years 1887-8-9, collector of taxes to pay semi-annual interest, falling due in April and October, on bonds executed by the county for amount of its subscription to the capital stock of the Cumberland and Ohio Railroad Company ; also a certain amount to the sinking fund for ultimate extinction of the principal.
Not having a sufficient amount of taxes collectible for the year 1888 to pay interest…
2Cited by12 opinions
- Epperson v. Postal Telegraph Cable Co.Supreme Court of Missouri · 1900
- Showalter v. Fairbanks, Morse & Co.Wisconsin Supreme Court · 1894
- Reed v. StockmeyerCourt of Appeals for the Seventh Circuit · 1896
- Chicago, B. & Q. R. v. ShalstromCourt of Appeals for the Eighth Circuit · 1912
- Dougherty v. West Superior Iron & Steel Co.Wisconsin Supreme Court · 1894
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