Pacific National Bank v. Morrissey

In the fall of 1972, Nettie Quast, then an 82-year-old widow, became acquainted with William Morrissey, a 50-year-old twice convicted felon. Thereafter, Morrissey began assisting in the management of her business affairs. On her behalf and with her funds, he purchased and remodeled the home next to hers. He also delivered for sale stock in her name valued at $757,700+ to Howard Adler of Foster & Marshall. The transfers were made in her name but the proceeds were retained by Morrissey.

This action was commenced by Pacific National Bank, as guardian of Nettie Quast, an incompetent, against…