National Bank of Kentucky v. Gallagher

Opinion op the Court by

Stanley, Commissioner—•

Reversing.

The basic questions involved in the appeal pertain to the authority of a hank under the circumstances to hold collateral pledged to secure debts, and its duty to sell the pledg’ed property when directed by the pledgor after maturity of the obligations. It also presents several subsidiary questions which we do not find it necessary to consider.

On April 11, 1927, J. G. Gallagher executed his note for $1,900 to the National Bank of Kentucky. On June 2, 1927, J. G. Gallagher and Charles L. Gallagher executed their joint note to it for…