Phillips v. Willis

Seitz, Vice-Chancellor:

Plaintiffs seek to impress a trust for the benefit of an estate on certain preferred stock purchased by the defendant allegedly in violation of her duty as a confidential agent.

Olen F. Phillips, hereinafter called the “deceased,” died intestate on June 1, 1932. He was survived by his widow, Margaretta T. Phillips and two minor children, Wenona and Robert H. Phillips.

Aside from assets valued at $665.71, the sole asset of the estate of the deceased was his ownership of all of the stock of Olen F.-Phillips Realty Company, hereinafter called the “Company.” This Company,…