Bank of the United States v. Cockran

39 Ky. 395, 9 Dana 395, 1840 Ky. LEXIS 41
CourtCourt of Appeals of Kentucky
DecidedMay 20, 1840
StatusPublished
Cited by8 cases

This text of 39 Ky. 395 (Bank of the United States v. Cockran) is published on Counsel Stack Legal Research, covering Court of Appeals of Kentucky primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Bank of the United States v. Cockran, 39 Ky. 395, 9 Dana 395, 1840 Ky. LEXIS 41 (Ky. Ct. App. 1840).

Opinion

The Chief Justice

delivered the Opinion of the Court.

One James Pryor having conveyed to William Cockran some lots in the city of Louisville, by two deeds, one in 1819, and the other in 1820, in trust for securing to the United States Bank the payment of two notes which Pryor had given to the said Bank—a decree for enforcing the trust, by a sale of the property so conveyed, was rendered by the Jefferson Circuit Court, in the year 1826, on a bill which had been filed for that purpose by the said Bank, against David Cockran, as nonresident heir of the trustee, and against others alleged to be the devisees of the said Pryor.

The trust property was sold under the decree; and the Bank having bought a portion, and one Thomas Joyes the residue of it, each purchaser afterwards sold to others, who, or those claiming under whom, now claim and occupy all the said estate.

The sales of the trust estate not having produced a sum equal to the debts to secure which it had been conveyed, a decree in personam was rendered for the deficit, and, under that decree, other real estate of the devisees in the same city was sold, and is now occupied by persons claiming under the purchasers.

In the progress of the suit on the deeds of trust, there had been no appearance by the heir of the trustee; and the certificate of publication against him, does not show that there had been publication for more than eight weeks; and therefore, as to the said David Cockran, the decree may be void.

Nor was there any notice, actual or constructive, to some of the infant devisees; but guardians ad litem having been appointed, and having also answered for them, the decree as to them, though erroneous, was not there[396]*396fore void, according to the case of Bustard vs Gates & Wife, 4 Dana.

The present bill, its object &c. Dismissal of the bill, on divers grounds, and appeal. An equitable title to estates sold under a decree of the Jefferson circuit ct. passed to the purchasers; but the legal title had descended to an heir, as to whom the decree was void: a bill filed by the purchaser to obtain a conveyance from him, and perfect the titles of their alienees, & which has no other prayer, is not a bill of review; but a bill founded on a former decree, and of which the Louisville chancellor has jurisdiction, whether he could, or could not review a decree of Jefferson circuit court.

[396]*396Apprehending that the titles claimed, as derived under the decree, are imperfect, the United States Bank, in the year 1836, filed another bill in chancery against David Cockran and the devisees and the heirs of the devisees of James Pryor, deceased, and against Thomas Joyes, and others, praying for a decree for perfecting and quieting the titles; and Joyes having filed a cross bill for the same purpose, various interpleadings were made between divers persons interested in the property.

The Chancellor dismissed the original bill and the cross bill filed by Joyes; because he was of the opinion that he had no jurisdiction over a bill, which he considered a bill of review, or a supplemental bill of revivor, and because he thought that as both the Bank and Joyes had transferred their interests as purchasers, neither of them had a right to seek any relief in equity respecting the property so transferred; and because, also, he was of the opinion that the decree was so erroneous and ineffectual as not to allow any supplemental proceeding in equity to enforce or confirm it.

This appeal brings up this last decree for revision.

We have not deemed it necessary to ascertain whether every necessary party had been regularly brought before the court; nor what should have been the Chancellor’s decree in all the multiplied and minute details involved in this voluminous record; for, however these matters may be, the absolute dismission of the bills being in our opinion, erroneous, the case must be remanded; and then there will be but little, if any, difficulty in proceeding in such manner, and in rendering such decree, as will be proper according to the main principle of the reversal.

We shall, therefore, briefly notice only the grounds urged against the equitable right asserted in the bill and cross bill of Joyes to some relief.

First. As the decree was not void as to Pryor’s devisees, who held a resulting equity, the Bank and Joyes acquired that equity in judgment of law, and have a right [397]*397to hold it as long as the decree, however erroneous it may have been, shall not have been reversed.

The fact that the purchasers have sold the estate, does not preclude them from maintaining the bill, to perfect the titles of the alienees, to whom they are responsible, and who are before the Court.—The bill could be maintained by the alienees against their vendors and others; and, in such a case, it is not very material whether parties appear as compts or defts.

And, though the decree may have been void as to David Cochran, who holds the legal title in trust for the holder of the equity, yet, as he has no beneficial interest, a bill in the nature of an original bill may certainly be maintained by the party holding that equity, against him, and all persons interested in the title, for the purpose of obtaining a conveyance from him. And though the equitable claim to such a conveyance, as asserted by the Bank and by Joyes, is derived from the decree, yet, as there is a prayer for such a conveyance merely, the bill is, so far, not a bill of review, but is as much as original as any other bill filed tor enforcing or perfecting an equity arising out of a former decree in another cage between tile same or other parties, The act of 1835 establishing the Louisville Chancery Court, declared that it “shall “have all the equitable and chancery jurisdiction which “the Jefferson Circuit Court (then had) in suits (there-cc after) to be brought. And, consequently, if it be admitted that a bill to review a decree of the Circuit Court of Jefferson, could not be maintained in any other court, still, as the bill in this case is, in one aspect of it, not a bill of review, but an original bill to enforce an equity arising from a final decree of the Jefferson Circuit Court, the Chancellor of Louisville had, in our opinion, full cognizance of it, according to the statute creating his Court.

Second. As the Bank and Joyes could have acquired only an equity by their purchases under the decree, the holder of the legal title not having been a party—the fact that they have sold their respective equities, should not preclude them from suing in chancery to perfect the titles of their alienees, to whom they are responsible, and whom they have brought before the court, as beneficial and actual parties.

Had those vendees brought this suit, the Bank and Joyes would have been indispensable parties, because there was only ah equitable transfer of their rights. And, as between those who are thus interested in the same equity, it cannot be very material who are, in form, com[398]*398plainants; as any decree that may be rendered, will be equally conclusive on all of them, and as the relief sought is for the benefit of all.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Johnson v. Carroll
228 S.W. 412 (Court of Appeals of Kentucky, 1921)
Cheatham v. Whitman
6 S.W. 595 (Court of Appeals of Kentucky, 1888)
Galpin v. Page
9 F. Cas. 1113 (U.S. Circuit Court for the District of California, 1870)
Frierson v. Travis
39 Ala. 150 (Supreme Court of Alabama, 1863)
Lessee of Moore v. Starks
1 Ohio St. (N.S.) 369 (Ohio Supreme Court, 1853)
Benningfield v. Reed & Sutherland
47 Ky. 102 (Court of Appeals of Kentucky, 1847)
Craig v. Taylor
45 Ky. 457 (Court of Appeals of Kentucky, 1846)
Johnson v. Norton
42 Ky. 429 (Court of Appeals of Kentucky, 1843)

Cite This Page — Counsel Stack

Bluebook (online)
39 Ky. 395, 9 Dana 395, 1840 Ky. LEXIS 41, Counsel Stack Legal Research, https://law.counselstack.com/opinion/bank-of-the-united-states-v-cockran-kyctapp-1840.