Niolon v. McDonald
Mississippi Supreme Court
From the chancery court of Lauderdale county. Hon. W. T. Houston, Chancellor. In May, 1885, John M. Niolon and wife executed a deed •of trust, conveying certain property in the city of Meridian to secure the payment of their promissory note to Hugh McDonald for $1,787.50, due January 1, 1887. The trust-deed was in the usual form, and, after providing for a sale of the property, stipulated that out of the proceeds of said sale the trustee should pay the debt secured “ and the…
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From the chancery court of Lauderdale county. Hon. W. T. Houston, Chancellor. In May, 1885, John M. Niolon and wife executed a deed •of trust, conveying certain property in the city of Meridian to secure the payment of their promissory note to Hugh McDonald for $1,787.50, due January 1, 1887. The trust-deed was in the usual form, and, after providing for a sale of the property, stipulated that out of the proceeds of said sale the trustee should pay the debt secured “ and the expenses of executing this trust.” Default was made in the payment of the debt, and, the trustee named in the…
1Opinion of the CourtCooper, J.
No issue was made by the pleading touching the validity of the appointment of Hall as substituted trustee, nor that the amount claimed by him for his services as trustee was excessive, the position taken by complainant being that the trustee was entitled to nothing for his services, because he did not in fact make the sale under the deed. We therefore decline to consider and decide upon these points.
The English rule that a trustee is not entitled to compensation for executing a trust unless provided for by the parties, has not been accepted in the United States generally, nor i u *340this state.…
2Cases cited1 opinion
- Shirley v. ShattuckMississippi Supreme Court · 1854
3Cited by1 opinion
- Kaiser Investments, Inc. v. DavisMississippi Supreme Court · 1989