Blanton v. Kentucky Distilleries & Warehouse Co.

Citations

• 120 F. 318
• 1902 U.S. App. LEXIS 5315

Syllabus

<p>1. Assignments for Benefit of Creditors — Sale of Real Property by Assignee — Kentucky Statute.</p> <p>Under Ky. St. § 87, relating to sales of property by assignees in voluntary assignments for the benefit of creditors, since its amendment by Act March 16, 1898 (Sess. Acts 1898, p. 104), an assignee has power to sell real property at private or public sale, as he deems best, and to pass the title pursuant thereto, by virtue of the power of sale given in the deed of assignment; — the effect of the amendment being to repeal the limitation contained in the original section, requiring real property to be sold in the same manner as at decretal sales, which was by public auction.</p> <p>2. Same — Necessity of Appraisal.</p> <p>The provisions of Ky. St. § 2362 et seq., which require an appraisal “before any real estate shall be sold under an order or judgment of a court, other than an execution,” have no application to a sale of real property by an assignee for the benefit of creditors pursuant to section 87 of such statutes, in which case the power of sale is not derived from an order or judgment of a court, but from the deed of assignment, and the court is vested only with a supervisory power to confirm or reject the sale when reported by the assignee.</p> <p>8. Same — Irregularity in Appraisement — Effect of Confirmation of Sale.</p> <p>Conceding that such statutory provisions do apply, and that an-appraisal is required in such case, the fact that certain personalty used “ in connection with the real property, and sold with it, was included in the appraisement,- is merely an irregularity, which is cured by a confirmation of the sale as provided by the statutes, without any exception having been filed thereto.</p> <p>4. Evidence-Proceedings of Stockholders’ Meeting — Proof by Oral Testimony.</p> <p>The proceedings of a meeting of the stockholders of a corporation are facts which may be proved by the oral testimony of any witness who was present, “and especially is su