Tolley v. Hamilton
Supreme Court of Alabama
Appeal from Circuit Court, Limestone County; O. Kyle, Judge. Bill by Price Alexander Hamilton and others against James H. Tolley and others to review and reverse a decree for fraud and for a sale of lands for division. From a decree overruling demurrers to the hill, respondents appeal.
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Appeal from Circuit Court, Limestone County; O. Kyle, Judge. Bill by Price Alexander Hamilton and others against James H. Tolley and others to review and reverse a decree for fraud and for a sale of lands for division. From a decree overruling demurrers to the hill, respondents appeal. The case made by the bill is that Martha Hamilton, now deceased, left a last will and testament creating for her son, Yancy Hamilton, a spendthrift trust; testatrix’s brother, Charles A. Arnett, being named as trustee, with power to sell the trust property, and reinvest the proceeds of sale in other property in…
1Opinion of the Court
This cause was submitted under Supreme Court rule 46, and the opinion of the court was prepared and delivered by—
ANDERSON, C. J.
[1] The doctrine is well established that a trustee cannot purchase or deal in trust property for his own benefit or in his own behalf, directly or indirectly. But such a purchase is not absolutely void, but voidable only, at the election of the interested parties seasonably expressed. Hammond v. Hopkins, 143 U. S. 224, 12 Sup. Ct. 418, 36 L. Ed. 134; Cottingham v. Moore, 128 Ala. 209, 30 South. 784; Charles v. Dubose, 29 Ala. 367; Calloway v. Gilmer, 36 Ala. 354.
[2-4…
2Cases cited10 opinions
- Hammond v. HopkinsSupreme Court of the United States · 1892
- Noble v. Moses Bros.Supreme Court of Alabama · 1883
- Charles v. DuboseSupreme Court of Alabama · 1856
- McLean v. Presley's Adm'rSupreme Court of Alabama · 1876
- Hardeman v. DonagheySupreme Court of Alabama · 1910
5 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Henderson v. HendersonSupreme Court of Alabama · 1923
- Ussery v. DarrowSupreme Court of Alabama · 1939
- Jones v. HendersonSupreme Court of Alabama · 1934
- Anderson v. SteinerSupreme Court of Alabama · 1927
- Hamilton v. TolleySupreme Court of Alabama · 1923
9 more not listed; retrieve them via the Exa API.