Ray v. Union Savings Bank & Trust Co.
Supreme Court of Georgia
Equitable petition. Before Judge Felton. Bibb superior court. February 24, 1910. Clifford E. Ray, Thomas J. Ray, and J. L. Watson as guardian fox Bolivar EL Ray Jr., Lucile, Ruth, Marvin, and George Ray, minors, filed their petition against the Union Savings Bank and Trust Company, and Bolivar H. Ray Sr. The substance of the petition as amended and now material was as follows: The minors represented by Watson, and the other two plaintiffs, are all the children of Bolivar H.…
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Equitable petition. Before Judge Felton. Bibb superior court. February 24, 1910. Clifford E. Ray, Thomas J. Ray, and J. L. Watson as guardian fox Bolivar EL Ray Jr., Lucile, Ruth, Marvin, and George Ray, minors, filed their petition against the Union Savings Bank and Trust Company, and Bolivar H. Ray Sr. The substance of the petition as amended and now material was as follows: The minors represented by Watson, and the other two plaintiffs, are all the children of Bolivar H. Raj' Sr., and his wife Carrie I. Ray, who died in 1893. On August 1, 1893, the defendant Ray, as trustee for his wife…
1Opinion of the CourtFish, C. J.
(After stating the facts.) ■ “All persons aiding and assisting trustees of any character, with a knowledge of their misconduct, in misapplying assets, are directly accountable to the persons injured.”. Civil Code (1895), § 3200, lb. (1910), § 3784. “One who purchases from a trustee who has authority to sell acquires a.title to the property sold; and the title thus acquired is not affected by the subsequent conduct of the purchaser in knowingly aiding the trustee in a misappropriation of the proceeds of the sale, unless such misappropriation be the result of an arrangement be*750tween the…
2Cases cited4 opinions
- Cohen v. ParishSupreme Court of Georgia · 1898
- Lyons v. BassSupreme Court of Georgia · 1899
- Maynard v. ClevelandSupreme Court of Georgia · 1886
- Tapley v. TapleySupreme Court of Georgia · 1902
3Cited by2 opinions
- Stern v. HowellSupreme Court of Georgia · 1925
- Davis v. FreemanSupreme Court of Georgia · 1918