Reeves v. Pierce

Citations

• 64 Kan. 502
• 67 P. 1108
• 1902 Kan. LEXIS 233

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Trusts and Trustees — Constructive Service. In an action against a non-resident, in which, it is sought to trace a trust fund into specific property held by him with notice of the trust, service by publication only is sufficient to give the court jurisdiction.</p> <p>2. Amended Petition — Presumption of Law. Where an amended petition was filed, which was received and acted upon by the trial court, it will be presumed, in the absence of a showing to the contrary, that it was filed with the permission of the court.</p> <p>3. Trusts and Trustees — Guardian and Ward — Insolvent Bank —Purchaser Held Trustee. Where the money of a ward is placed in a bank without right, and mingled with the funds of the bank so that its assets are augmented and bettered in a tangible way, a trust is impressed upon the assets, and where the bank subsequently becomes insolvent and a receiver is appointed who sells a portion of the assets, and it appears that not only the bank and the receiver had knowledge of the trust, but also the purchaser himself, it will be held that such purchaser is himself a trustee of the fund and liable in equity to the ward for the same.</p> <p>4. - Sale by Receiver — Purchaser with Notice. The receiver took the assets of the insolvent bank subject to all equities which existed against such assets when the appointment was made, and, as the ward was the true owner of the trust fund in the assets, neither the bank nor the receiver acquired any right to the same, nor had the receiver power to transfer a title to the property into which the trust fund had gone to a purchaser who had notice of the trust.</p>