Teal v. Pleasant Grove Local Union No. 204, Etc.
Supreme Court of Alabama
Appeal from Chancery Court, Marshall County; James E. Horton, Jr., Chancellor. Bill by Pleasant Grove Local Union No. 204 of the Farmers’ Educational & Co-operative Unioi} of America, and certain individuals, against Z. M. Teal and others, to- set aside and annul the transfer of certain stock, and to reissue same in the name of complainant, to determine who are interested in the shares, and their respective interest, and to require respondents to pay into court the full…
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Appeal from Chancery Court, Marshall County; James E. Horton, Jr., Chancellor. Bill by Pleasant Grove Local Union No. 204 of the Farmers’ Educational & Co-operative Unioi} of America, and certain individuals, against Z. M. Teal and others, to- set aside and annul the transfer of certain stock, and to reissue same in the name of complainant, to determine who are interested in the shares, and their respective interest, and to require respondents to pay into court the full amount of dividends received. The chancellor decreed that the transfer of the two- shares of stock be divested and revested…
1Opinion of the CourtThomas, J.
This is a bill filed by a trustee to protect the rights of the beneficiaries of the trust.
[1] In its simplest elements a trust is a •confidence'reposed in one person, by and for the benefit of another, with respect to property held by the former, for that other’s benefit. The person in whom this confidence is reposed and who holds the title to the property in question is the trustee; and the person for whose benefit the property is so held by the trustee is the cestui que trust, or, as formerly referred to in the Roman law, the fidei-commissarius. Brown v. Brown, 83 Hun, 160, 164, 31 N. Y.…
2Cases cited21 opinions
- Robinson v. PierceSupreme Court of Alabama · 1897
- McDonnell v. Alabama Gold Life InsuranceSupreme Court of Alabama · 1888
- Butts v. CooperSupreme Court of Alabama · 1907
- Zadek v. BurnettSupreme Court of Alabama · 1912
- O'Neil v. GreenwoodMichigan Supreme Court · 1895
16 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Braley v. SpraginsSupreme Court of Alabama · 1930
- Leddon v. StricklandSupreme Court of Alabama · 1928
- Blair v. JonesSupreme Court of Alabama · 1918
- Chandler v. Home Loan Co.Supreme Court of Alabama · 1924
- Joseph W. Hart, Luella F. Hart and J. Carl Russell v. The First National Bank of Birmingham, Birmingham, AlabamaCourt of Appeals for the First Circuit · 1967
5 more not listed; retrieve them via the Exa API.