Kayser v. Maugham

On petition for rehearing the following opinion was delivered by

Helm, J.

Where one partner, having partnership funds in his possession to be used for 'partnership pur*340poses, without the consent of his copartner invests the same in land for himself, taking the title in his own name, the copartner may demand an interest in the realty purchased, corresponding in extent with his interest in the money paid therefor. And it is probably true that in such case a court of equity will not hesitate to recognize the resulting trust, even though the partner thus appropriating the trust fund intended to…