Boyd v. Mutual Fire Ass'n
Wisconsin Supreme Court
Appeals from orders of the circuit court for Eau Claire county: Jakes O’Neill, Circuit Judge. This action was commenced November 13, 1890, by the defendants John 8. Oiuen and the Northwestern Lumber Company, as creditors, in their own behalf, and as representing all others similarly situated, against the Mutual Fire Association of Fau Claire, to have it adjudged insolvent, and to- wind up its affairs.
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Appeals from orders of the circuit court for Eau Claire county: Jakes O’Neill, Circuit Judge. This action was commenced November 13, 1890, by the defendants John 8. Oiuen and the Northwestern Lumber Company, as creditors, in their own behalf, and as representing all others similarly situated, against the Mutual Fire Association of Fau Claire, to have it adjudged insolvent, and to- wind up its affairs. On the same day the association put in a verified answer, admitting the essential facts, and No-wember 15, 1890, the defendant James A. Smith was appointed receiver of the corporation, and on…
1DissentOassoday, C. J.
It is well settled that so long as there is a continuing and subsisting trust, acknowledged or acted on by the parties, the statute of limitations are not available to a trustee. Kane v. Bloodgood, 7 Johns. Ch. 90, 123, 124. The reason for the rule is that the trustee being clothed with the legal title or possession of the property, and charged with the duty of caring for and preserving the same for the benefit of the cestui que trustj the latter has the right to assume that the trustee will perform such duty, unless he has knowledge that the trustee has denied his right, or claimed the…
2Cases cited14 opinions
- Kane v. BloodgoodNew York Court of Chancery · 1823
- Fawcett v. FawcettWisconsin Supreme Court · 1893
- Ellis v. WardIllinois Supreme Court · 1890
- European & North American Railway Co. v. PoorSupreme Judicial Court of Maine · 1871
- Gager v. PaulWisconsin Supreme Court · 1901
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