Trusts for Business Purposes
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In our eReader you can find the full English version of the book. Read Trusts for Business Purposes Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Trusts for Business Purposes
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Me. 96, 92 Atl. 1008. 29Costello v. Costello, 209 N.
26 Beam v. Patterson Safe Y. 252, 103 N. E. 148.
196 Trusts for Business Purposes.
is any material failure in this regard, their acts may be invalid, or they may be guilty of a breach of trust.*" 80 McCaughn v. Young, 85 Miss. 277, 37 So. 839.
CHAPTER XI.
LIABILITY OP TRUSTEES.
115 — Personal.
A trustee acting in his fiduciary capacity without properly limiting his liability will be held personally bound by contracts he makes as such trustee ...; the mere use of the name of trustee will not discharge him, but to protect himself from individual liability he must expressly stipulate therefor ;^^ for in the ab- sence of special limitation, a contract by a trustee relative to the trust property binds him personally.'^ The rule seems to be that a trustee holding a trust estate, with general power of management, is personally bound by contracts which he makes as trustee, unless there is an express provision showing that both parties agree to relieve him from personal liability.'' If a trustee contracts with a broker to sell property, without ref- erence to the capacity in which he holds it — omitting to exempt himself from personal liability — ^and the broker intends in good faith to look to the trustee individually for his commission with- out regard to the manner or capacity in which he might con- vey the property, the trustee is personally bound.'* So where trustees contract for work and material on a building and do not exempt themselves from personal responsibility or provide 81 Feldman v.
What to read after Trusts for Business Purposes?
You can find similar books in the "Read Also" column, or choose other free books by William Carden Dunn to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Me. 96, 92 Atl. 1008. 29Costello v. Costello, 209 N.
26 Beam v. Patterson Safe Y. 252, 103 N. E. 148.
196 Trusts for Business Purposes.
is any material failure in this regard, their acts may be invalid, or they may be guilty of a breach of trust.*" 80 McCaughn v. Young, 85 Miss. 277, 37 So. 839.
CHAPTER XI.
LIABILITY OP TRUSTEES.
115 — Personal.
A trustee acting in his fiduciary capacity without properly limiting his liability will be held personally bound by contracts he makes as such trustee ...; the mere use of the name of trustee will not discharge him, but to protect himself from individual liability he must expressly stipulate therefor ;^^ for in the ab- sence of special limitation, a contract by a trustee relative to the trust property binds him personally.'^ The rule seems to be that a trustee holding a trust estate, with general power of management, is personally bound by contracts which he makes as trustee, unless there is an express provision showing that both parties agree to relieve him from personal liability.'' If a trustee contracts with a broker to sell property, without ref- erence to the capacity in which he holds it — omitting to exempt himself from personal liability — ^and the broker intends in good faith to look to the trustee individually for his commission with- out regard to the manner or capacity in which he might con- vey the property, the trustee is personally bound.'* So where trustees contract for work and material on a building and do not exempt themselves from personal responsibility or provide 81 Feldman v.
What to read after Trusts for Business Purposes?
You can find similar books in the "Read Also" column, or choose other free books by William Carden Dunn to read onlineMoreLess
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