Saunders v. Richard

Citations

• 35 Fla. 28

Syllabus

<p>1. Under Circuit Court Rules in Equity No. 61, such courts have power upon motion, notice and cause shown, to permit amendments to be made to answers to bills in chancery, although such amendments may qualify or alter the original statements.</p> <p>S. A trustee who is a party to a trust deed, who has accepted the trust, acted under the deed, taken possession of the property, the grantor raising no objection, can not for his own benefit surrender the trust deed and take a deed in his own name to the same property, to the injury of his cestuis que trust</p> <p>3. A trustee who is a party to a trust deed, who has accepted the trust created by said deed with a knowledge of the consideration upon which the same was made, andby virtue of the same . has taken and held possession of the trust property for a long period of years, in acquiescence to the provisions thereof, is, when a suit is brought against him to establish the trust and require him to account for the trust property, estopped from maintaining as a defense to said suit that the trust deed was. executed upon an illegal consideration, or that it was defectively executed.</p> <p>4. If a party having the right to repudiate or affirm a transaction, affirms it, he can not afterwards resort to his right of repudiation. Impeachable transactions may be rendered valid by act of confirmation or acquiescence for a great length of time.</p> <p>5. A trustee must assume the validity of the trust under which he acts until it is actually impeached. His duty is to manage the interests of his cestui que trust, and not to keep his conscience or betray his title or interest, and he can make no admissions prejudicial to the interests of his cestui que trust.</p> <p>6. It is the duty of a party discovering a fraud to take immediate steps for a rescisión of his contract. By his ratification of the acts of which he complains, and to which he was a willing party, he is forever estopped from setting up such defense.</p> <p>7. A trus