Pressly v. Ellis
Mississippi Supreme Court
Error- to the chancery court of Oktibbeha county. Pollard, Chancellor. A statement of the case is contained in the opinion of the court. 1. The powers of a trustee are limited and special, and he is obligated by his relation to the utmost diligence, fidelity and good faith. His cestui que trust is not bound by his acts, except so far as they are authorized by the powers specially conferred on him. Story Eq. Jur., title, Trustees; Hill on Trustees.
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Error- to the chancery court of Oktibbeha county. Pollard, Chancellor. A statement of the case is contained in the opinion of the court. 1. The powers of a trustee are limited and special, and he is obligated by his relation to the utmost diligence, fidelity and good faith. His cestui que trust is not bound by his acts, except so far as they are authorized by the powers specially conferred on him. Story Eq. Jur., title, Trustees; Hill on Trustees. Property sold by an administrator or guardian remains subject to the lien for the purchase money in the hands of a purchaser or his assignee, in…
1Opinion of the Court
SlMRALL, J. :
The trustees of township 20, range 14, east, in Oktibbeha county, brought a bill in chancery against the defendants, to foreclose the lien reserved by statute, to secure the purchase money from the lessee of the 16th section.
The bill alleges that the 16th section was, on the 16th December, 1845, leased in conformity to law, for the term of ninety-nine years, to Stephen Burt, on a credit, for the price of $1,180.62, who executed his notes with personal security. Stephen Burt after-wards assigned the lease to one' Leatherwood, who assigned to Paramore, who, before any part of the…
2Cases cited1 opinion
- Murphey v. SloanCourt of Appeals of Mississippi · 1852
3Cited by6 opinions
- Morrison v. KinstraMississippi Supreme Court · 1877
- Parham v. StithMississippi Supreme Court · 1879
- Pittman v. McClellanMississippi Supreme Court · 1877
- Wood v. StaffordMississippi Supreme Court · 1874
- Davis v. LumpkinMississippi Supreme Court · 1879
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