Spence v. Widney

Citations

• 5 Cal. Unrep. 516
• 46 P. 463
• 1896 Cal. LEXIS 1090

Syllabus

<p>Trusts—Death of Trustee.—Plaintiff’s Testator Granted lands in trust to six trustees, to be sold, etc., with the approval of any four of them, and the fund derived therefrom to be used for founding an astronomical observatory. Before anything had been done to carry out the trust, three of the trustees died. Held, that under Civil Code, sections 2288, 2289, providing that on the death of one of several cotrustees the trust survives to the others, and that the superior court in the county in which the property is situated may appoint other trustees of the trust, the trust did not terminate as impossible of fulfillment.</p> <p>Trusts—Unreasonable Delay in Carrying Out.—Plaintiff’s testator granted land in trust to six trustees, the fund derived therefrom to be used in founding an astronomical observatory in connection With a university. Lenses were ordered, but it was found that the income was insufficient to pay for them. With the consent of the grantor the lenses were sold, and it was decided to wait until prices could be realized for the lands which would enable the trust to be accomplished. Held, that under the circumstances a delay of three years in taking further steps to carry out the trust was not unreasonable.</p> <p>Trusts—Death of Grantor.—In Such Case the Deed Provided that the observatory should be located on Wilson’s Peak, or some other suitable site on the Sierra Madre range, to be selected by the consent and approval of the grantor, who was also one of the trustees. Held, that the death of the grantor before any selection was made did not defeat the execution of the trust.</p> <p>Trusts—Abandonment.—The Sale of the Lenses and the Delay in selecting a site for the observatory cannot, in the absence of any express declaration to that effect, be construed as an abandonment of the trust.</p> <p>A Trust for the Founding of an Astronomical Observatory in connection with a university, “to be owned, controlled, and managed by said university,” will not be co