Terwilliger v. . Brown
New York Court of Appeals
Appeal from an order of the General Term of the Supreme Court in the third district, affirming a judgment in favor of the plaintiff, rendered in an action to set aside the sale of certain real estate of Joseph Ellis, deceased, made by order of the surrogate of Ulster county, upon the application of David Ellis, the executor of said Joseph, for the payment of debts. The cause was tried at the Ulster circuit on the 21st day of January, 1863, by the court, without a jury.
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Appeal from an order of the General Term of the Supreme Court in the third district, affirming a judgment in favor of the plaintiff, rendered in an action to set aside the sale of certain real estate of Joseph Ellis, deceased, made by order of the surrogate of Ulster county, upon the application of David Ellis, the executor of said Joseph, for the payment of debts. The cause was tried at the Ulster circuit on the 21st day of January, 1863, by the court, without a jury. The facts found by the court and the conclusions of law are substantially as follows : That the will of Joseph Ellis,…
1Opinion of the Court
Earl, C.
The law exacts scrupulous good faith on the part of him who acts as trustee for another, or holds any other fiduciary relation to another. A trustee is not permitted to purchase the trust property, or be directly or indirectly interested in such purchase. He is not permitted to make the purchase as agent for another, or through an agent for himself. And it matters not if he pays all the property is worth, nor if the sale is advantageous to the cestui que trust. It is a matter, of course, for courts of equity to set the sale aside upon the application of the cestui que trust; The…
2Cases cited5 opinions
- Seth v. CramerCourt for the Trial of Impeachments and Correction of Errors · 1825
- Davoue v. FanningNew York Court of Chancery · 1816
- Forbes v. . HalseyNew York Court of Appeals · 1862
- Conger v. RingNew York Supreme Court · 1851
- Rider v. PondNew York Court of Appeals · 1859
3Cited by16 opinions
- Mitchell v. . ReedNew York Court of Appeals · 1874
- Land, Log & Lumber Co. v. McIntyreWisconsin Supreme Court · 1898
- Dickey v. VolkerSupreme Court of Missouri · 1928
- Gibson v. HerriottSupreme Court of Arkansas · 1891
- Johnson v. EricksonNebraska Supreme Court · 1923
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