Patrick v. Kirkland

Citations

• 53 Fla. 768

Syllabus

<p>1. A mere parol agreement without consideration to buy in land at an execution sale and to reconvey it to the judgment debtor upon payment of the purchase price and interest, may not create a trust in favor of the judgment debtor. But where there is in the transaction an element of equity arising from fraud, confidential relation, refraining from bidding at the sale or from further protection of the property from sale, gross inadequacy of the purchase price, the supplying by the debtor of a part of the purchase money, or otherwise, such circumstances may be shown by parol and establish a trust.</p> <p>2. Where the lessees for turpentine purposes of land upon which an execution has been levied, upon being applied to for a loan to prevent a sale of the land orally agree with some of the heirs of the execution debtor that the lessees will bid in the land at the execution sale, and upon payment by the heirs of the amount with interest, the lessees would reconvey the land to the heirs, and pay them the usual rent for turpentine purposes while the lands were held under the sheriffs deed, and the land alleged to be worth $3,000 is bought in for $250, and thereafter profitably used by the purchasers as it had been previously used, and where it was agreed that '$50 due as rent at the execution sale should be credited on the purchase price, a trust in favor of the heirs is thereby created which a court of equity will enforce.</p> <p>3. Where there is'an agreement to pay interest and no rate is stated the legal rate is implied; and where the time within which an agreement is to be performed is not stated the law implies a reasonable time.</p> <p>4. Objections taken to testimony before a master should be called to the attention of the court before final hearing and the record should show the rulings thereon if it is desired to have the appellate court consider them; but testimony made incompetent by statute should be disregarded by the trial court and by the appellate court.