Reports of Civil and Criminal Cases Decided by the Court of Appeals of Kentucky Volume 91 (Paperback)

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. 1893 edition. Excerpt: ...it when the money was gotten of DeHaven, and also when the agreement with his brother was reduced to writing in June, 1882. It was the same debt. The Kelly note was never surrendered by him, nor was the judgment upon it ever released. In fact, he remained bound all the time for the Sanford debt, and also for the Caplinger debt until the Ricketts money was borrowed. When he again became bound for the bank debt his right to the Kelly debt as indemnity again attached by virtue of the agreement between him and his brother, it never having been surrendered. This intention and understanding is shown by the writing of June, 1882, signed by both of them, and which recites: "W. O. Bruce holds said note and judgment to indemnify and secure him, as the security of said Stamper Bruce, in a note to the Bank of New Castle and in.a note to L. M. Sanford and D. F. Caplinger, and further to indemnify and secure him in any and all obligations upon which he is now, or may be hereafter, held as the security of said Stamper Bruce." It is said, however, that the bank and the Gaplinger debts were paid; that the DeHaven and Ricketts debts were new ones, and that the indemnity could not apply to them, even if that were the agreement, because it could not be made to cover any future liability of the appellee as surety of Stanley Bruce. They were created, however, to raise money to pay off the debts upon which the appellee was liable as surety, and as to which he held the indemnity. In such a case, in the absence even of an express agreement to that effect between the parties, the security should have the right to continue to hold his indemnity. His liability, although to another party, still continues, and the money raised having been applied in...