Clarke v. Caufman

Citations

• 66 Kan. 61
• 71 P. 241
• 1903 Kan. LEXIS 4

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Building and Loan Association — Limitation of Action. The ordinary contract by a borrowing member of a building and loan association which stipulates for the repayment of the loan at a stated future time, and which pledges the borrower’s partially paid stock in the association as security therefor, payment for which stock is to be made by monthly dues, and which alternatively provides for repayment of the loan through the medium of the monthly dues, is put at an end by the insolvency of the association and the appointment of a receiver to liquidate its affairs, and the statute of limitations then begins to run against a right of action by the receiver to recover the debt.</p>