Pressly v. Ellis

Citations

• 48 Miss. 574

Syllabus

<p>1. Trustee and cestui que trust. — It is no less a rule of law than the suggestion of natural justice, that an agent or trustee holding a confidential relation, whether under the law of the land or by appointment by an individual,, shall conduct the business of liis trust with fidelity to him or those for whom he acts, and follow the line of duty prescribed for him by the appointing power.</p> <p>2. Trustees of township school lands. — Under the act of congress of March 3, 1803, which <e reserved the 16th sections in each township for the ^upport of schools therein,the trustees are authorized to lease the lands, upon the terms therein stated, to raise a fund to give practical and beneficial effect to the grant; and it was the intention of the act to avoid, as far as the utmost prudence could suggest, the hazard of loss by insolvent lessees. The trustees, on leasing the land, are required to taire such security as they may approve, and the law raises a special mortgage security on the land, and forbids conveyance till payment. Wherefore, a conveyance under any circumstances, before payment actually made, does not discharge the land of its lien ; and even a purchaser from the lessee, without notice, will not be protected against tho lien.</p> <p>3. Same. — The leased premises being liable, under the act of congress, for payment of the money for the lease, even when sold for value to an innocent purchaser without notice, a fortiori the premises are liable when the lessee is himself one of the trustees, and combined with his fellows in the board to violate the trust.</p> <p>4. Same — bankruptcy—jurisdiction.—The bankruptcy of the lessee or purchaser of the 16 th section school lands does not alter the case, either as to the liability of the property to the lien for the lease money, or the jurisdiction of the state court over the person or subject-matter.</p>