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" When an agent contracts in the name of his principal, the principal contracts and is bound, but the agent is not. When a trustee contracts as such, unless he is bound, no one is bound, for he has no principal. The trust estate cannot promise; the contract... "
Judicial and Statutory Definitions of Words and Phrases - Page 270
1904 - 7839 pages
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Reports of Cases Decided in the Court of Chancery of the State of ..., Volume 72

New Jersey. Court of Chancery - Law reports, digests, etc - 1909 - 1076 pages
...introduction to his work on Trustees (at p. 1), defines a trustee as, in the widest meaning of the term, "A person in whom some estate, interest or power in or affecting property of any description is vested for the benefit of another." And he says that that definition also extends...
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Reports of Cases in Law and Equity in the Supreme Court of the ..., Volume 9

Oliver Lorenzo Barbour, New York (State). Supreme Court - Law reports, digests, etc - 1852 - 740 pages
...such persons, in the same manner as it would be exercised over any other trustees. Now a trustee is a " person in whom some estate, interest or power, in or affecting property of any description is vested for the benefit of another." (Hill on Trustees, 41.) In The People v....
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Crown Cases Reserved for Consideration, and Decided by the Judges of England ...

E. Chandos Leigh, Lewis William Cave - Law reports, digests, etc - 1866 - 696 pages
...Trustees (c) it is said that, " a trustee, in the widest meaning of the term, may be defined to be, a person, in whom some estate, interest or power in or affecting property of any description is vested for the benefit (a) 8 Bing. 394. c. 54, s. 1, by the 24 & 25 Viet. (b)...
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Reports of Cases Argued and Determined in the Supreme Court of ..., Volume 1

Henry Nichols Blake, Montana. Supreme Court, Cornelius Hedges (Reporter), Horace Riverside Buck (Reporter), Fletcher Maddox (Reporter) - Law reports, digests, etc - 1873 - 760 pages
...held them for the benefit of others. His position was analogous to that of a receiver. " A trustee is a person in whom some estate, interest, or power in or affecting property of any description is vested for the benefit of another." Hill. on Trust. 65. Lomme had, perhaps, no...
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A Treatise on the Law of Trusts and Trustees, Volume 1

Jairus Ware Perry - Trusts and trustees - 1882 - 744 pages
...public and private corporations, all exercise a kind of trust. Indeed, one definition of a trustee is " a person in whom some estate, interest, or power in or affecting property of any description is vested for the benefit of anothep." This definition embraces all the trusts and...
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Supreme Court Reporter, Volume 4

United States. Supreme Court - Law reports, digests, etc - 1884 - 732 pages
...An agent represents and * acts for his*principal, who may be either a natural or artificial person. A trustee may be defined generally as a person in...is bound, no one is bound, for he has no principal. The trust estate cannot promise; the contract is therefore the personal undertaking of the trustee....
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United States Reports: Cases Adjudged in the Supreme Court, Volume 110

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - Courts - 1884 - 828 pages
...acts for ." Opinion of the Court. his principal, who may be either a natural or artificial person. A trustee may be defined generally as a person in...interest, or power in or affecting property is vested for thejbenefit of another. When an agent contracts in the name of his principal, the principal contracts...
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Atlantic Reporter, Volume 95

Law reports, digests, etc - 1916 - 1108 pages
...Craig is based, and cites a number of other cases upon the subject, and, among other things, eald: "When a trustee contracts as such, unless he is bound, no one is bound, for he has no principal. The trust estate cannot promise; the mn tract is therefore the personal undertaking of the trustee....
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Atlantic Reporter, Volume 17

Law reports, digests, etc - 1889 - 1132 pages
...The doctrine is also very clearly stated in Taylor v. Davis, 11U US 335, 4 Sup. Ct. Hep. 147, thus: "When a trustee contracts as such, unless he is bound, no one is bound, for he has no principal. The trust-estate cannot promise. The contract is therefore the personal undertaking of the trustee....
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Atlantic Reporter, Volume 66

Law reports, digests, etc - 1907 - 1166 pages
...Introduction to his work on Trustees (page 1), defines a "trusteee" as, in the widest meaning of the term, "a person In whom some estate, interest, or power in or affecting property of any description is vested for the benefit of another." And he says that that definition also extends...
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