Sanger v. Ryan

Citations

• 122 Cal. 52
• 54 P. 522
• 1898 Cal. LEXIS 524

Syllabus

<p>Insolvency—Partnership—Trust—Counsel Dees.—In an action by the assignee in insolvency of a partnership to recover shares of stock transferred to a trustee for the partners, within thirty days prior to the insolvency proceedings, the trustee is not entitled to recover counsel fees for defending the action unsuccessfully, merely because he accepted the trust in good faith, in ignorance of the insolvency, and of any intention to defraud the creditors of the partnership, and because he doubted whether the stock was firm property, or was the Individual property of the partners, and defended the action in good faith, for the purpose of having the ownership of the stock judicially determined.</p> <p>Id.—Protection op Trustee—Deposit in Court.—The trustee might properly protect himself, without breach of trust, by depositing the shares o-f stock in court, where the individual partners could claim them if shown to be their individual property.</p>