Scott v. Shy
Supreme Court of Missouri
.Error to Iron Circuit Court. I. The rights and duties of the trustee depend upon the instrument creating the trust. (2 Wash. Eeal Prop,, (3rd Ed.,) 482.) These powers are special and must be strictly pursued. (Balis vs. Perry, 51 Mo., 449 ; Wallis vs. Thornton, 2 Brockenb., 422.) II.
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.Error to Iron Circuit Court. I. The rights and duties of the trustee depend upon the instrument creating the trust. (2 Wash. Eeal Prop,, (3rd Ed.,) 482.) These powers are special and must be strictly pursued. (Balis vs. Perry, 51 Mo., 449 ; Wallis vs. Thornton, 2 Brockenb., 422.) II. The trustee must first apply the proceeds, as far as they will go, to the costs and expenses of the trust, and to the ex-tinguishment of the debt secured, for the payment of which he was appointed, before he can undertake settlement of other claims., This is the extent to which the authorities cited by…
1Opinion of the CourtNapton, Judge
This suit was brought in 1870 against defendants to recover balance due plaintiffs on a certain promissory note executed by defendants in October, 1868, due in twelve months, with interest at the rate of 10 per cent, per annum. This note was secured by deed of trust on certain lands described in said deed. These lands- were sold on the 30th of November, 1869? *480for the sum of $7,650, and this amount was applied, to expense's of trust and costs, $64.50, for taxes assessed against the Shy property, $59.70, for prior mortgage due school fund of Iron county, $338.95. The balance of $7,186.85 was…
2Cases cited4 opinions
- Bell v. Mayor of New-YorkNew York Court of Chancery · 1843
- Moore v. CableNew York Court of Chancery · 1815
- Western Insurance Co. of Buffalo v. Eagle Fire InsuranceNew York Court of Chancery · 1828
- Lawrence v. CornellNew York Court of Chancery · 1820
3Cited by8 opinions
- Pickett v. Merchants' National BankSupreme Court of Arkansas · 1877
- Drannek Realty Co. v. Nathan Frank, Inc.Supreme Court of Missouri · 1940
- Jones v. SheppardMissouri Court of Appeals · 1909
- Schmidt v. SmithSupreme Court of Missouri · 1874
- Willis Lucas Lumber Co. v. NealMissouri Court of Appeals · 1928
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