Keet & Rountree Dry Goods Co. v. Gideon
Missouri Court of Appeals
'Appeal from the Greene Circuit Court. — Hon. James T. Neville, Judge. Tbe principle that tbe trustee and persons standing in a fiduciary capacity to such trustee are forbidden to buy at tbe trustee’s sale, and if tbey do so buy, they become trustees, if the beneficiary elect to make them, has been decided numerous times, not only in this country but in England, and is universally declared to be the law in all text books bearing on the subject.
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'Appeal from the Greene Circuit Court. — Hon. James T. Neville, Judge. Tbe principle that tbe trustee and persons standing in a fiduciary capacity to such trustee are forbidden to buy at tbe trustee’s sale, and if tbey do so buy, they become trustees, if the beneficiary elect to make them, has been decided numerous times, not only in this country but in England, and is universally declared to be the law in all text books bearing on the subject. We call the court’s special attention to the following citations, viz: Gardner v. Ogden, 22 N. Y. 327; Border v. Conklin, 53 Pac. Rep. 699; Thornton…
1Opinion
OPINION ON MOTION FOB REHEARING.
The undisputed evidence is that during the evening of the day on which the goods were sold negotiations were begun between T. J. Gideon, one of the purchasers at the sale, and W. W. Gideon, the trustee, for a release of the goods to the latter. Within forty-eight hours after the sale the goods were resold to W. W. Gideon at an alleged profit to T. J. and E. M. Gideon, the purchasers, of $600. It is claimed by counsel *615for appellants that a conclusive presumption attaches to these circumstances that the two transactions constituted but one, that is a sale of the…
2Cases cited2 opinions
- Abbot v. American Hard Rubber Co.New York Supreme Court · 1861
- Boehlert v. McBrideSupreme Court of Missouri · 1871