Reports of Civil and Criminal Cases Decided by the Court of Appeals of Kentucky Volume 93
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1894 edition. Excerpt: ... invested the corporation with the title, or it derived the power to sell and convey from the act creating the corporation. A bond was executed by the corporators and they proceeded to sell the land by giving a power of attorney to Brown, who was one of the trustees or corporators. They all lived in the county of Laurel, and this land was located west of the Tennessee river. This was in the year 1856. The act further vested in the trustees the power to invest any surplus of these sales of land in bank stock or other profitable investment, the principal to remain as a permanent fund. George P. Brown, one of the trustees who sold this land, died in the year 1868, having sold the greater part of this land, and with a part of the proceeds the trustees, long prior to his death, had purchased a site for the seminary, erected the building, and the school for many years was in a prosperous condition. Brown, it seems, retained some thirtyfour hundred dollars of the money derived from the lands in his own hands, and when he died a sum exceeding two thousand dollars remained unaccounted for by him that he had held for many years. He died insolvent, and this action was instituted against Farris, one of the original trustees, and the other appellees as successors of those who had died, asking for an accounting and a judgment against them for the money unpaid by Brown, the trustee who had died, with the interest. The principal sum they have collected from Brown's estate, but the interest, now exceeding the principal, is the bone of contention between these parties. It is first insisted by the appellees, the court below having dismissed the petition, that the county court had no right to sue for an accounting. There is nothing in this objection. A...
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- 13 Sep 2013
- Illustrations, black and white