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KINCAID v. CENTRAL BANK & TRUST CO.

612 S.W.2d 342 (1980)

Joan D. KINCAID, Appellant, v. CENTRAL BANK AND TRUST COMPANY, a Kentucky Corporation, as Executor of the Estate of Garvice D. Kincaid, Deceased; W. E. Burnett, Jr., E. F. Schaeffer, Jr., and H. Hart Hagan, Jr., as the membership composing the unincorporated Advisory Committee under the Will of Garvice D. Kincaid, Deceased; General Management Associates, Inc., a Kentucky Corporation; and H. Hart Hagan, Jr., Individually and as President of General Management Associates, Inc., Appellees, and Jane Kincaid NICKELL, now Jane Kincaid Johnson, Appellant, v. CENTRAL BANK AND TRUST COMPANY, a Kentucky Corporation, as Executor of the Estate of Garvice D. Kincaid, Deceased; W. E. Burnett, Jr., E. F. Schaeffer, Jr., and H. Hart Hagan, Jr., as the membership composing the unincorporated Advisory Committee under the Will of Garvice D. Kincaid, Deceased; General Management Associates, Inc., a Kentucky Corporation; and H. Hart Hagan, Jr., Individually and as President of General Management Associates, Inc., Appellees.

Court of Appeals of Kentucky.

December 19, 1980.

Attorney(s) appearing for the Case

D. Paul Alagia, Jr., Ronald L. Gaffney, Barnett & Alagia, Louisville, Paul E. Sullivan, Lexington, for appellants.

Harry B. Miller, Jr., Charles R. Hembree, Lexington, for appellees.

Before GANT, COOPER and REYNOLDS, JJ.

GANT, Judge.

Appellants are the two daughters of Garvice D. Kincaid, both of whom gave to their father certain options, dated June 28, 1973, for the purchase of the common capital stock of several banks, the options being for four years. Garvice died November 21, 1975, without having exercised any of these options, but under his will he expressly authorized appellee Central Bank, as his executor, to exercise any options he owned on common stock of any company. It...

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