Gouley v. Land Title Bank & Trust Co.

MacNeille and Millar, JJ.,

Exceptions have been filed on behalf of plaintiff to the action of the court in dismissing the bill of complaint on the sole ground that there was a duty on defendant as a trustee who knew of the defaults of the mortgagor to notify the bondholders of the defaults, particularly in view of the fact that the officers of the defendant corporation had taken cognizance of the defaults of the mortgagor at several meetings.

In an exhaustive brief plaintiff’s attorney cited a number of cases holding that, where there are no agreements to the contrary, a trustee is not a mere…