Vernon v. Board of Police

Citations

• 47 Miss. 181

Syllabus

<p>1. Dealings with fiduciaries and trustees. — Fiduciaries and trustees, if they exceed and violate their authority, are responsible, though no bad faith prompted their acts; and those who deal with them must be aware that they exercise only limited and delegated powers, and see to it that they confine themselves within their scope.</p> <p>2. Chickasaw school fund. — The board of supervisors of Tippah county are the trustees of the Chickasaw school fund of that county, and the beneficiaries are the successive generations of children in that county.</p> <p>3. Sajce— case at bar. — Under the act of March 12th, 1850, the board loaned V. $500 of the Chickasaw school fund on deed of trust and note with personal security. Afterwards said board made an order, directing the trustees named in the deed to surrender to V. his note and to cancel the deed of trust, upon his conveying to the president of -the board a certain other tract of land, which being dope, was all set aside in equity, as being in excess of the authority of the board; but, upon terms, that the land conveyed by y. shall be restored by him, there being no fraud meditated. *</p>