Legal Opinion
Equitable Trust Co. v. Prentice
New York Court of Appeals
Decided December 31, 1928PublishedCited by 53 opinions
1Opinion of the Court
Caedozo, Ch. J.
A deed of trust, made in 1917, gave the net income of shares of stock to stated beneficiaries with remainders over. By its terms, the trustee was to have the privilege, acting with the consent of others, to allocate stock dividends to capital rather than to income. This privilege was exercised. There is no question that the allocation would be lawful if the trust had been created in 1922 or later (Pers. Prop. Law [Cons. Laws, chap. 41], §§ 10 and 17-a, as amended by L. 1922, ch. 452, and L. 1926, ch. 843). The question is whether it is to be condemned as an unlawful…
2Cases cited23 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Towne v. EisnerSupreme Court of the United States · 1918
- United States v. PhellisSupreme Court of the United States · 1921
- Lynch v. HornbySupreme Court of the United States · 1918
- Gibbons v. MahonSupreme Court of the United States · 1890
18 more not listed; retrieve them via the Exa API.
3Cited by53 opinions
- Fed. Sec. L. Rep. P 98,706 Pittsburgh Terminal Corporation v. The Baltimore and Ohio Railroad Company, W. James Price, Alonzo G. Decker, Jr., James Parker Nolan, Frederick Deane, Jr., James L. O'keefe, Gregory S. Devine, Fay A. Le Favre, Nicholas T. Camicia, Dr. Milton S. Eisenhower, Steven Muller, John K. Stevenson, Hays T. Watkins, Howard E. Simpson and Cyrus S. Eaton, All Directors or Former Directors of the Baltimore and Ohio Railroad, the Chesapeake and Ohio Railroad And/or the Chessie System, the Chesapeake and Ohio Railway Company and Chessie System, Inc. Monroe Guttmann, Loretta Guttmann, Janet Rees and Evelyn Bittner v. The Baltimore and Ohio Railroad Company, W. James Price, Alonzo G. Decker, Jr., James Parker Nolan, Frederick Deane, Jr., James L. O'keefe, Gregory S. Devine, Fay A. Le Fevre, Nicholas T. Camicia, Dr. Milton S. Eisenhower, Steven Muller, John K. Stevenson, Hays T. Watkins, Howard E. Simpson and Cyrus S. Eaton, All Directors or Former Directors of the Baltimore and Ohio Railroad, the Chesapeake and Ohio Railroad And/or the Chessie System, the Chesapeake and Ohio Railway Company and Chessie System, IncCourt of Appeals for the Third Circuit · 1982
- In re the Accounting of Security Trust Co.New York Surrogate's Court · 1950
- In Re Vail's EstateSupreme Court of Florida · 1953
- In Re Trust Created by WarnerSupreme Court of Minnesota · 1962
- In re the Accounting of HeinrichNew York Surrogate's Court · 1949
48 more not listed; retrieve them via the Exa API.