Ricketts v. Montgomery
Court of Appeals of Maryland
Appeal from the Equity side of the Superior Court of Baltimore city. The bill in this case was filed on the 14th of April 1854, by the appellee against the appellants, and Win.
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Appeal from the Equity side of the Superior Court of Baltimore city. The bill in this case was filed on the 14th of April 1854, by the appellee against the appellants, and Win. E. Murphy, and James Hooper, to vacate and annul a sale of the steamer J ewess, made by Whittington & Hooper, on the 1st of March 1854. Montgomery and Murphy (the latter residing in Louisiana) were each half-owners ofAhe steamer, and differences having arisen between them, as to the employment of the vessel and payment of costs for alterations and repairs upon her, Murphy employed Hooper to procure a sale of her, and a…
1Opinion of the CourtEccleston, J.
It was conceded, in argument, by the appellants’ counsel, that in regard to the sale of the steamer Jewess, made on the 1st of March 1854, John Whittington was acting under an authority from James Montgomery, which constituted the former an agent or trustee of the latter.
*50It is well settled, as a general rule, tliat a trustee or person acting in a fiduciary character, cannot purchase, on his own account, or acquire an interest in property, which his duty or trust requires him to sell on account of another. Although this has not been denied, we deem it proper to refer to the case of Michoud, et…
2Cases cited3 opinions
- Ringgold v. RinggoldCourt of Appeals of Maryland · 1826
- Keighler v. Savage Manufacturing Co.Court of Appeals of Maryland · 1858
- Gaither v. MyrickCourt of Appeals of Maryland · 1856
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- Mangels v. TippettCourt of Appeals of Maryland · 1934
- Fidelity & Deposit Co. v. FreudCourt of Appeals of Maryland · 1911
- Welbourn v. KleinleCourt of Appeals of Maryland · 1900
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