Wiswall v. Stewart & Easton
Supreme Court of Alabama
[BILL IN EQUITY TO ESTABLISH RESULTING TRUST IN LANDS.] Appeal from the Chancery Court at Mobile. Heard before the Hon. "Wade Keyes. ■ This bill was filed by Joseph Wiswall, the appellant, against Stewart & Easton, late partners in the practice of the law, and sought to have the defendants declared trustees for his benefit of the legal title to a certain tract of land.
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[BILL IN EQUITY TO ESTABLISH RESULTING TRUST IN LANDS.] Appeal from the Chancery Court at Mobile. Heard before the Hon. "Wade Keyes. ■ This bill was filed by Joseph Wiswall, the appellant, against Stewart & Easton, late partners in the practice of the law, and sought to have the defendants declared trustees for his benefit of the legal title to a certain tract of land. The tract of land in controversy, prior to the 6th November, 1835, belonged to Joshua Kennedy, who on that day covenanted to sell it to one James L. Seabury, attheprice of $3,000, payable in three annual installments, and…
1Opinion of the CourtWalker, J.
It is unquestionably the law, that cestui que trust has the option to take the benefit of any purchase which the trustee may make, of claims or titles adverse to the trust estate, upon reimbursing the trustee to the extent of his outlay ; but it is equally certain, that the cestui que trust must signify his election to affirm the purchase of the trustee, and take the benefit of it, within a reasonable time. — White & Tudor’s Leading Cas. in Equity, (63 Law Library,) top pages 53, 54, 55, 56, notes to Keech v. Sanford; Scott v. Freeland, 7 S. & M. 409; Hawley v. Cramer, 4 Cowen, 716; Willard’s…
2Cases cited1 opinion
- Charles v. DuboseSupreme Court of Alabama · 1856
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