Marshall & Ilsley Bank v. Guaranty Investment Co.

The following opinion was filed November 7, 1933 :

Wickhem, J.

The question involved in this case is whether the tnjs-tee under a trust deed to secure a bond issue, who by the trust deed has the right, but not the obligation, to advance money to repair defaults by the mortgagor, and to whom is reserved a lien for such advances prior to the lien of the trust deed, has so acted with respect to the discharge of his obligations as trustee as to disentitle him to the advantage stipulated for in the trust deed., A consideration of this contention requires a somewhat detailed statement of the facts.

The…