Schmitt v. Wright

Mr. Presiding Justice Burke

dissenting: The instrument did not create a trust, nor did the facts and circumstances attendant upon its execution raise an implied trust. The effect of plaintiff’s contention as to the obligation assumed by defendants would be that during the four years following May 4, 1925, Continental was under a duty to operate and manage the Walpart properties with no compensation to itself and with only the knowledge that if it were successful in its operation it would -recover the $86,000 debt which Walnart owed. Beyond that, under plaintiff’s theory, Continental was…