Mutual Sav. & Loan Ass'n v. Owings

• Decision Date: 20 November 1897
• Citation: 43 S.W. 422
• Parties: MUTUAL SAVINGS & LOAN ASS'N v. OWINGS.
• Court: Kentucky Court of Appeals

43 S.W. 422

MUTUAL SAVINGS & LOAN ASS'N v. OWINGS.

Court of Appeals of Kentucky.

November 20, 1897

Appeal from circuit court, Montgomery county.

"Not to be officially reported."

Action by the Mutual Savings & Loan Association against Sallie R Owings to recover the amount of a loan and enforce a mortgage lien. Judgment for defendant on her counterclaim, and plaintiff appeals. Affirmed.

R. A Mitchell and Thos. Turner, for appellant.

E. C O'Rear, for appellee.

BURNAM J.

Appellant alleges that it is a corporation created under the provisions of chapter 56 of the General Statutes; that in July, 1884, it loaned to the appellee $4,000, to be repaid in installments and to secure the payment of which she executed a mortgage on real estate; that at the date of the loan appellee was the owner of 40 shares of the capital stock of the association; and her account with the association is thus stated by appellant:

To Loan ............	$4,000 00
Interest .........	1,160 00
Fines ..............	136 00
Check returned ......	40 00
	---------
	$5,336 00
By Cash dues ..................	$ 910 00
Cash and int. in advance ....	1,875 00
Cash ........................	1,740 13
Int. allowed by Ass'n .........	440 00
Amt. due Ass'n ............	370 87
	---------
	$5,336 00
To bal., June 1, 1889 ....................	$370 87

-For which judgment is prayed.

Appellee resisted payment-First, on the ground that at the time of her subscription to the capital stock of the company and the making of the contract she was a married woman, and relies on her coverture; and, second, that the debt had been satisfied in full before the institution of the suit. She alleges that previous to the loan, on July 31, 1884, she had paid to appellant $910 on her subscription to the capital stock of the company, for which she claims she was entitled to credit; that she received only $2,125 in actual cash, the balance, $1,875, being reserved by the company as the sum that would be due by her for interest and dues up to November, 1886, leaving due to the association as of that date only the sum of $1,215; that subsequently thereto she had paid on the debt $1,740.13, and that she had overpaid appellant $530. And she further pleaded that the item of $136, which constituted a part of the alleged balance due appellant, was made up by fines incurred by failure to pay the alleged balance, and was usurious; and she pleaded and relied on the statute in bar of recovery of same, and made her answer a counterclaim, and...