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eBook details

• Title: Williard Et Al. v. Campbell Oil Co. Et Al.
• Author : Supreme Court of Montana
• Release Date : January 16, 1926
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 71 KB

Description

Cancellation of Instruments ? Trusts and Trustees ? Common Law Trusts ? Contracts ? Invalidity Because of Trustees Interest ? Laches ? Discretion ? Findings ? When Conclusive ? Evidence ? Self-serving Declarations. Common-Law Trust ? Trustees Interested in Contract Disqualified from Acting Thereon. 1. Since a trustee cannot take part in any transaction concerning the trust in which he is interested (sec. 7890, Rev. Codes 1921), a contract entered into between a common-law trust at a meeting of its board of trustees attended by only two of its three members, and a company of which one of the two was the virtual owner, was a nullity, and the fact that the third member in writing subsequently gave his approval did not render it valid for the reason that under section 6789, the board could act only as a board when assembled as such and not through the individuals composing it. Same ? Transactions in Which Trustees Interested, Presumed Without Consideration ? Undue Influence. 2. Under section 7895, Revised Codes, where two of three trustees of a common-law trust were officers of an oil company to which the trustees granted an extension of a drilling lease on lands owned by the trust under circumstances showing lack of good faith, and whose interests were adverse to those of the trust, it will be presumed that the agreement was entered into without consideration and through undue influence. Evidence ? Letters ? Self-serving Declarations ? Inadmissibility. 3. Letters written by defendant in an action for the cancellation of a lease on oil lands and offered by him in evidence held to have been properly excluded, as self-serving declarations. Equity ? Laches ? Discretion. 4. The question of laches is addressed to the sound legal discretion of the trial court sitting in equity, and its decision will not be disturbed on appeal unless it is so clearly wrong as to amount to an abuse of discretion. Same ? When Doctrine Inapplicable. 5. The doctrine of laches has no application where the persons (trustees of a common-law trust) upon whom the duty of prosecuting an action in behalf of those for whom they act devolves, were themselves the wrongdoers. - Page 31 Common-Law Trust ? Cancellation ? of Instruments ? Action by Trustees ? Doctrine of Laches Held Inapplicable. 6. Where two trustees of a common-law trust elected to replace two others who had taken part in transactions resulting in injury to the trust were shown to have had knowledge of the alleged wrongdoing of the displaced trustees for a considerable period of time before their election ? one of them having made efforts for two and a half years to bring about the selection of a new board to remedy conditions ? the defense of laches was not available to defendant in an action brought by them in their representative capacity as trustees of the trust composed of 2,600 unit holders, and not as individuals, within a month after their election. Equity ? Findings ? When Conclusive. 7. Where the contention is made on appeal in an equity case that the evidence is insufficient to sustain the courts findings, they will not be disturbed unless there is a decided preponderance of the evidence against them.

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