Amberson v. Johnson
Supreme Court of Alabama
Appeal from tlie City Court of Gaclsdeu. Tried before the Hon. John H. Disque. This suit was originally commenced by the appellee, G. L. Johnson against the Queen City Bank of Gadsden; and sought to recover dividends which had been declared by said bank on a certificate of stock in said bank.
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Appeal from tlie City Court of Gaclsdeu. Tried before the Hon. John H. Disque. This suit was originally commenced by the appellee, G. L. Johnson against the Queen City Bank of Gadsden; and sought to recover dividends which had been declared by said bank on a certificate of stock in said bank. The Queen City Bank of Gadsden made and filed an affidavit under the statute (Code, § 2633), in which it stated that the thirty-five dollars sued for by the plaintiff was the accumulated dividends which had been declared by it on $250 of stock in said bank, which was subscribed for by Thomas H. Amberson,…
1Opinion of the CourtDowdell, J.
The legal title to the certificate of stock was in the trustee. By his transfer and delivery it passed to T. L. Johnson.' Unless otherwise provided by Matute, the legal title in a court of law will prevail over the equitable title. Earnest Aniberson ivas substituted as defendant under section 2633 of the Code. There is no provision in this statute changing the rule as above stated. The general rule is, “that at law the trustee is clothed with the legal title, and unless restrained by the terms of the trust, may convey, assign, or encumber, the trust estate; and if the cestui que trust is *493injur…
2Cases cited2 opinions
- McBrayer v. CarikerSupreme Court of Alabama · 1879
- Huckabee v. BillingslySupreme Court of Alabama · 1849
3Cited by4 opinions
- Town of Carbon Hill v. MarksSupreme Court of Alabama · 1920
- Street v. PittsSupreme Court of Alabama · 1939
- Nelson v. Monitor Congregational ChurchOregon Supreme Court · 1914
- Johnson v. AmbersonSupreme Court of Alabama · 1903