Security National Bank v. Sternberger

Tbe main question involved: Is tbe written instrument in controversy, admitted to be executed by all of tbe members of tbe family in reference to tbe 8,790 shares of stock in tbe Revolution Cotton Mills, such a contract as to entitle tbe trustee to bold tbe certificates of stock against tbe demands of plaintiffs? We think not.

Tbe written instrument is a simple, passive or dry .trust, not an active or special trust. Tbe distinction between simple, passive or dry trusts and special or active trusts is pointed out succinctly in Perry on Trusts and Trustees (7th Ed.), Vol. 1, sec. 18, p. 14,…