 | George Purcell Costigan - Electronic books - 1925 - 1056 pages
...the United States in the case of Taylor v. Davis, 1 10 US 330, 4 S. Ct. 147, 28 L. Ed. 163, that : "When a trustee contracts as such, unless he is bound no one is bound, as he has no principal. The trust estate cannot promise, the contract is therefore the personal undertaking... | |
 | United States. Supreme Court - Law reports, digests, etc - 1926 - 1140 pages
...agent repre- (3351 sents and acU 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.... | |
 | Law - 1922 - 498 pages
...agent. ' ' An agent represents and acts for his principal, who may be a natural or an artificial person. A trustee may be defined, generally, as a 'person...for the benefit of another. When an agent contracts for his principal, the principal contracts and is bound, but the agent is not. When a trustee contracts... | |
 | United States. Board of Tax Appeals - Taxation - 1928 - 1582 pages
...agent. 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...of another. When an agent contracts in the name of Us principal, the principal contracts aud Is bound, but the ageut Is not When a trustee contracts as... | |
 | Trust companies - 1925 - 924 pages
...defined generally ft» a person in whom such estate, interest, or poirer in or affecting properti/ is vested for the benefit of another. When an agent...but the agent is not. When a trustee contracts as sueh, unless he is bound no one is bound, for he has no principal. The trust estate cannot promise;... | |
 | Law reports, digests, etc - 1911 - 1318 pages
...and distribute the residue to those entitled. Am. & Eng. Ency. of Law (2d Ed.) p. 903. A trustee Is a person in whom some estate, interest or power, in...affecting property is vested for the benefit of another. 2 Bou. L. D. (Rawle's Ed.) p. 1146. Of course, an executor ia a trustee in the broadest sense, but... | |
 | Law reports, digests, etc - 1889 - 1232 pages
...The doctrine is also very clearly stated in Taylor v. Davis, 11U US 835, 4 Sup. Ct. Rep. 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.... | |
 | Law reports, digests, etc - 1907 - 1258 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... | |
 | Law - 1923 - 894 pages
...and acts for his principal, who may be a natural or an artificial person. A trustee may be denned, generally, as a person in whom some estate, interest,...for the benefit of another. When an agent contracts for his principal, the principal contracts and is bound, but the agent is not. When a trustee contracts... | |
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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... 
