Browning v. Fidelity Trust Co.
Court of Appeals for the Third Circuit
Appeal from the District Court of the United States for the District of New Jersey; Thos. G. Haight, Judge.
1Opinion of the Court
WOOLLEY, Circuit Judge.
The principal question on this appeal concerns the exemption from liability afforded a trustee of a mortgage by its immunity clause for a breach of duty under the attendant circumstances.
The facts are substantially as follows:
United Realty & Mortgage Company acquired for development and sale a large tract of land situate on the Hackensack River. On September 22, 1911, this corporation executed and delivered to the defendant as trustee a mortgage on its premises to secure a bond issue for $300,000. Of this issue, bonds to the amount of $75,000 were held by the trustee to…
2Cases cited3 opinions
- Lewis v. HolmesSupreme Court of Louisiana · 1903
- Schindler v. Milwaukee, Lake Shore & Western Railway Co.Michigan Supreme Court · 1891
- Black v. WiedersheimU.S. Circuit Court for the District of Eastern Pennsylvania · 1906
3Cited by23 opinions
- Spiegel v. Beacon Participations, Inc.Massachusetts Supreme Judicial Court · 1937
- Siesseger v. PuthSupreme Court of Iowa · 1931
- Hazzard v. Chase National BankNew York Supreme Court · 1936
- New England Trust Co. v. PaineMassachusetts Supreme Judicial Court · 1945
- Ruben v. CommissionerUnited States Board of Tax Appeals · 1937
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