Law Commons^™

Conflict Of Laws-Statute Of Limitations-State Statute Binding On Federal Court In Equity Case When Sole Ground Of Jurisdiction Is Diversity Of Citizenship, Samuel D. Estep S.Ed.

Michigan Law Review

Defendant trust company was trustee for enforcing the rights of noteholders of the Van Sweringen Corporation. When it became apparent that the Corporation could not meet its obligations, defendant company gave an option to noteholders to sell the notes for 50 per cent cash plus stock in the Van Sweringen Corporation. The donor from whom the plaintiff had received some of these notes as a gift had not accepted the exchange. Plaintiff brings suit for an alleged breach of trust. The circuit court of appeals held, reversing the summary judgment of the district court, "that in a suit brought on …