Globe Building & Loan Co.'s Assignee v. Wood
Court of Appeals of Kentucky
Case 2 — Action to Enforce Mortgage Lien APPEAL FROM MONTGOMERY CIRCUIT COURT. Judgment for Defendants and Plaintiff Appeals.
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Case 2 — Action to Enforce Mortgage Lien APPEAL FROM MONTGOMERY CIRCUIT COURT. Judgment for Defendants and Plaintiff Appeals. This appeal involves the question of the application of payments made upon a loan by a borrowing member of a building and loan company, after the company is insolvent and is in process of liquidation. 1. Can a building and loan company in Kentucky make a voluntary assignment? That such company under the laws of this State can liquidate its affairs through a deed of volunatry- assignment seems to us to be beyond question. The power in a corporate body to make a…
1Opinion of the Court
Opinion ojp the court by
JUDGE DuRELLE
Reversing.
Appellee' Wood became a member of tbe Globe Building & Loan Company by subscribing for twelve shares of. stock, and in October, 1894, borrowed $1,200, for which he executed his note, and to secure the payment thereof pledged the shares of stock, and executed a mortgage to the company upon a lot of land in Mt. Sterling, the mortgage being duly recorded. In March, 1895, Wood sold the property to appellee O’Rear, the consideration recited being “'that the second party pay to the Globe Building & Loan Company of Louisville, Ky., the loan of $1,200…
2Cases cited6 opinions
- Simpson v. Kentucky Citizens Building & Loan Ass'nCourt of Appeals of Kentucky · 1897
- Reddick v. United States Building & Loan Association's AssigneeCourt of Appeals of Kentucky · 1899
- Peter's Building Ass'n, No. 5 v. JaeckschCourt of Appeals of Maryland · 1879
- Harvey v. CubbedgeSupreme Court of Georgia · 1885
- Sumrall v. Commercial Building Trust's AssigneeCourt of Appeals of Kentucky · 1899
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Woods v. Wichita Falls Building & Loan Ass'nCourt of Appeals of Texas · 1933
- Catsiff v. Elanore Rothschild Building & Loan Ass'nPennylvania Municipal Court, Philadelphia County · 1930
- Woods v. Wichita Falls Building & Loan Ass'nCourt of Appeals of Texas · 1933