Webb v. Rockefeller

Citations

• 66 Kan. 160
• 71 P. 283
• 1903 Kan. LEXIS 21

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Trusts and Trustees — Deed Construed — Case Followed. When land is conveyed to a trustee, his heirs and assigns, for the benefit of a third person named in the deed as beneficiary, but the conveyance contains no clause in restraint of alienation, the title of the trustee is not nominal only, but the trustee in such conveyance has the power of disposition, and the trust is not executed by the statute of uses. The case of Boyer v. Sims, 61 Kan. 593, 60 Pac. 309, followed.</p> <p>2. Corporations — Conveyance to Director — Collateral Attach. While the rule is that a conveyance of the corporate property of an insolvent corporation to a member of the board of its directors will be carefully examined and readily avoided in an appropriate action brought by the proper parties in interest for the purpose of setting it aside, yet such conveyance, based upon full consideration paid, in the absence of actual fraud, is not void, and will not be so declared in a collateral attachment proceeding brought by a creditor of the corporation to subject the property thus conveyed to the payment of a corporate debt.</p>