ITT Commercial Finance Corp. v. Stockdale

*987In several respects the settlor of the trust, Romanek, expressed the copious powers reserved to the trustee. So, for example, art. V provided that the trustee “shall have full power to deal [with the trust estate] as if he were the beneficial owner thereof....” Among the many specific powers conferred by art. V, without limiting general powers granted, was authority “to enter into and execute . . . any other obligations, instruments or undertakings. . . .” Under art. V, subparagraph 18, the trustee could “construe any of the provisions of this Declaration of Trust, and ... act on any such…