Legal Opinion
In re the Accounting of City Bank Farmers Trust Co.
New York Supreme Court
Decided November 13, 1958PublishedCited by 1 opinion
1Opinion of the CourtJacob Markowitz, J.
A question of judicial construction has been submitted to the court as a preliminary issue.
The provision of paragraph 10 of the trust agreement giving the trustee “ full authority in its discretion * * * to hold, invest and reinvest the trust fund * * * in such Government, State and Municipal Bonds of any government, state or municipality, that shall not have defaulted in payment previously to the date of execution of this trust ’ ’ is construed by the court as permissive only and as leaving the trustee free to make any of the investments permitted by section 21 of the Personal Property Law…
2Cases cited8 opinions
- People Ex Rel. Otsego County Bank v. Board of Supervisors of Otsego CountyNew York Court of Appeals · 1873
- City Bank Farmers Trust Co. v. EvansAppellate Division of the Supreme Court of the State of New York · 1938
- In re the Accounting of HilliardNew York Surrogate's Court · 1950
- In re the Estate of CarrNew York Surrogate's Court · 1941
- In re the Construction of the Last Will & Testament of MerrittNew York Surrogate's Court · 1925
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3Cited by1 opinion
- In re the Estate of TuskaNew York Surrogate's Court · 1962