Beard v. Stanton

Citations

• 15 S.C. 164
• 1881 S.C. LEXIS 65

Syllabus

<p>1. A married woman being entitled, under her father’s will, to a certain sum of money for life, with remainder over, in the hands of B., executor, she and her husband petitioned the Court of Equity for the appointment of S. as trustee. S. was so appointed, “ upon his giving bond, &c., and that upon the ■execution of said bond, the executor, B., be authorized to deliver to such trustee” this trust fund. S. never gave such bond, but received the trust money from B., and at once paid it over to the life-tenant, who was then on the eve of removing to Florida, where she died, in 1863. Held, that S. was not the trustee of an express trust, but was a trustee by construction.</p> <p>2. This case distinguished from Ghaplin v. Givens, Hiede JEq. 154.</p> <p>3. The statute of limitations runs in favor of a trustee of a trust raised by operation of law, or a constructive trust, and is, therefore, a bar to this action, brought in 1878 by the remaindermen to recover from S. the money received from B.</p> <p>4. If it were an express trust, tbe statute would be a bar, tbe office of trustee having been disavowed by the act of parting with the trust properly, and the cestas que trust having knowledge of such disavowal.</p>