Cunningham's Adm'r v. Rogers
Supreme Court of Alabama
Writ of Errror to the 16th Chancery District. Before the Hon. D. G. Ligón. William Rogues, the complainant, executed to Joseph L. Cunningham a deed of mortgage of certain slaves, on the 15th day of May, 1841, to secure the payment of a promissory note for $3,620, and by the terms of the mortgage, Cunningham had the right to sell the slaves, or so many thereof as were necessary to pay said note, on giving ten days’ notice.
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Writ of Errror to the 16th Chancery District. Before the Hon. D. G. Ligón. William Rogues, the complainant, executed to Joseph L. Cunningham a deed of mortgage of certain slaves, on the 15th day of May, 1841, to secure the payment of a promissory note for $3,620, and by the terms of the mortgage, Cunningham had the right to sell the slaves, or so many thereof as were necessary to pay said note, on giving ten days’ notice. Before the note fell due, Cunningham advertised the sale, and Rodgers filed his bill to enjoin the sale, alledging, amongst other things, payment of $900 in the sale of a…
1Opinion of the Court
DARGAJí, J.'
The rule is settled on principles which we approve, that a trustee cannot, by buying the trust estate, make profit to himself. See 1 Story’s Eq. 317, and the cases there cited. Indeed, the authorities go to the extent, that when a trustee becomes the purchaser at his own sale, the cestui que trust may still look upon the property as bound by the trust, and may apply, within a reasonable time, to have a re-sale, without showing any injury to his rights, or benefit to the trustee. That is, he may treat the purchase of his trustee, as a sale, or not, at his option. See 5 Vesey, 678 ;…
2Cases cited1 opinion
- Brannan v. OliverSupreme Court of Alabama · 1829
3Cited by11 opinions
- Dozier v. MitchellSupreme Court of Alabama · 1880
- Charles v. DuboseSupreme Court of Alabama · 1856
- McLean v. Presley's Adm'rSupreme Court of Alabama · 1876
- Calloway v. GilmerSupreme Court of Alabama · 1860
- Potier & McCoy v. BarclaySupreme Court of Alabama · 1849
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