Beam v. Paterson Safe Deposit & Trust Co.
Supreme Court of New Jersey
On appeal from a decree of the court of chancery advised by Vice-Chancellor Howell, whose opinion is reported in 82 N. J. Eq. 518. ' _'
1Opinion of the Court
The opinion of the court was delivered by
Swayze, J.
We agree with the learned vice-chancellor that the burden of proving that the trustee exercised good faith and reasonable discretion is upon the defendant, as we have already decided upon appeal from the order refusing to strike out the bill. 81 N. J. Eq. 195. We differ from his conclusion that the defendant has failed to establish the exercise of good faith and reasonable discretion, which is the duty imposed by the statute. Comp. Stat. p. 2271 pi. 3J. Its good faith is not questioned. Our examination of the facts shows that the securities…
2Cases cited2 opinions
- Bowker v. PierceMassachusetts Supreme Judicial Court · 1881
- In re the Judicial Settlement of the Account of Proceedings of Mercantile Trust Co.Appellate Division of the Supreme Court of the State of New York · 1913
3Cited by15 opinions
- Richards v. MidkiffHawaii Supreme Court · 1964
- In Re WardNew Jersey Superior Court Appellate Division · 1936
- In Re CrossSupreme Court of New Jersey · 1935
- In Re PettigrewNew Jersey Superior Court Appellate Division · 1934
- In Re EbertNew Jersey Superior Court Appellate Division · 1945
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