Thompson's Appeal
Supreme Court of Pennsylvania
Appeal from the decree of the Common Pleas of Allegheny county. This was an appeal by J. W. Thompson and others, from the decree of the Court, affirming the distribution made by an auditor on the account of John Scott, assignee under a voluntary assignment by R. A. Cunningham.
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Appeal from the decree of the Common Pleas of Allegheny county. This was an appeal by J. W. Thompson and others, from the decree of the Court, affirming the distribution made by an auditor on the account of John Scott, assignee under a voluntary assignment by R. A. Cunningham. Cunningham, the assignor, took out letters testamentary on the day of , A. D. 185 , on the estate of Seth Matthews, deceased, and converted the assets of said estate into cash, and used them in his business. On the 7th day of November, 1851, whilst indebted to said estate in the sum of $1579.84, he executed a voluntary…
1Opinion of the Court
The opinion of the Court was delivered, September 15, by
Lewis, J.
Whenever a trust-fund has been wrongfully converted into another species of property, if its identity can be traced, it will be held, in its new form, liable to the rights of the cestui que trust. No change of its state and form can divest it of such trust. So long as it can be identified either as the original property of the cestui que trust, or as the product of it, equity will follow it; and the right of reclamation attaches to it until detached by the superior equity of a bond fide purchaser, for a valuable consideration,…
2Cited by19 opinions
- Webb v. NewhallSupreme Court of Pennsylvania · 1922
- Lebanon Trust & Safe Deposit Bank's Assigned EstateSupreme Court of Pennsylvania · 1895
- Commonwealth v. Tradesmen's Trust Co.Supreme Court of Pennsylvania · 1915
- Erie Trust Company's Case (No. 1)Supreme Court of Pennsylvania · 1937
- Alexander v. Fidelity Trust Co.Court of Appeals for the Third Circuit · 1917
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