Rafferty v. Bank of Hardinsburg & Trust Co.
Rafferty v. Bank of Hardinsburg & Trust Co.
Opinion of the Court
Opinion op ' the Court by
Reversing.
It appears that in the year 1875 Mary J. Miller acquired five shares of stock in The Breckinridge Bank. On January 3,1876, ten shares of stock in that bank were issued to James T. Miller. After the death of James T. Miller the dividends on the stock standing in his name were regularly paid to Mary J. Miller until her death in 1908. Thereafter they were paid to her daughter, Enola Rafferty.
In the year 1912, Skillman and Smart resigned as trustees under the will of Fred Walters and The Bank of Hardinsburg & Trust Company was appointed trustee in their stead. About the same time The Bank of Hardinsburg & Trust Company was appointed administrator de bonis non of the estate of James T. Miller, deceased.
On March 30,1915, an execution was issued on the default judgment on the Rafferty note, against Mary J. Miller as administratrix of James T. Miller. On March 50, 1915, the execution was returned, “no property, found.”
In view of the conclusion of the court, we deem it unnecessary to pass on the question of jurisdiction, or any defense other than the plea of limitation. The suit is based .entirely on the judgment rendered on February 21, 1906, in favor of Walters’ trustees against Mary J. Miller as administratrix of James T. Miller, deceased, and on the execution issued on March 30, 1915, and returned “no property found” on the same day. Section 2548 of the Kentucky Statutes is as follows: “A surety shall be discharged from all liability under any judgment or decree, after the lapse of seven years without any execution issued thereon, and prosecuted in good faith for the collection thereof.” James T. Miller was surety on the note in question and it is immaterial, we think, whether the judgment on the note was rendered against
In this connection we deem it unnecessary to.determine whether the payments on the judgment were made by Mary J. Miller in her individual capacity or as administratrix, or what would be the effect if the last payment had been made within seven years from the time execution issued on the judgment. As a matter of fact, execution did not issue on the judgment until more than nine years after its rendition and for more than seven years áfter the last payment made thereon by Mary J. Miller. Under these circumstances, there ean be no doubt that, under the statute in question, James T. Miller’s estate is discharged from all liability under the judgment. Nor did the voluntary payments made by Mrs. Rafferty on the judgment in the years 1909 and 1910 extend the time for issuing execution, since it is clear that these payments were made in ignorance of her rights and in the mistaken belief that she was liable for her father’s debts. Since the judgment was discharged by the failure to issue an execution thereon for more than seven years after its rendition, it follows that the chancellor should have sustained the plea of limitation.
Judgment reversed and cause remanded with directions to dismiss the petition.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.