Dowsett v. Hawaiian Trust Company

OPINION OF THE COURT BY

WIRTZ, J.

This is an appeal from the judgment of the circuit .court, first circuit, entered on January 22, 1962, denying plaintiffs’ claim of surcharge against defendant trustee for having sold, between 1948 and 1955, 2,771 shares of Honolulu Oil and 503 shares of American Factors, Limited, allegedly contrary to the terms of the inter vivos trust created by Herbert M. Dowsett on December 31, 1935.

The provisions of the trust instrument assertedly violated appear in paragraph 6 and the pertinent portions thereof follow:

“6. The Trustee shall have full power and authority to…