Rea & Dohrman v. Copelin
Supreme Court of Missouri
Jlppeal from St. Louis Circuit Court. I. By reason of Ms fiduciary relations, defendant’s claims, as set up in this case, are rendered absolutely fraudulent and void. The law will never permit any one wbo acts in a fiduciary capacity to make tbe least profit or speculation out of the trust property or out of the relation he sustains to the subject-matter of the trust or Ms relations to it.
Read the full summary
Jlppeal from St. Louis Circuit Court. I. By reason of Ms fiduciary relations, defendant’s claims, as set up in this case, are rendered absolutely fraudulent and void. The law will never permit any one wbo acts in a fiduciary capacity to make tbe least profit or speculation out of the trust property or out of the relation he sustains to the subject-matter of the trust or Ms relations to it. (Sims v. Brittain, 4 B. & Ad. 375; Owston v. Ogle, 13 East, 538; 1 Young, 362.) Agents can not act so as to bind their principals when they have an adverse interest in themselves. (Paley on Agency, 10, 33,…
1Opinion of the CourtWagner, Judge
The counsel for the respondent, in their argument in this court, have abandoned all objection to the report of the referee except the first in the series, which objection was decided in their favor and sustained by the Circuit Court. On the sustaining of that objection, and the modification of the judgment in conformity thereto, the plaintiffs appealed to this court. The suit was for an account growing out of the earnings on a certain trip of the steamboat Deer Lodge, of which the appellants and the respondent were respectively the owners. The appellants owned each one-eighth part, and the…
2Cases cited1 opinion
- Grumley v. WebbSupreme Court of Missouri · 1869
3Cited by2 opinions
- Gordon v. EansSupreme Court of Missouri · 1888
- Lass v. SternbergSupreme Court of Missouri · 1872