Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Estates and Trusts
Effects Of Sole Gift Of Proceeds With No Disposition Of Corpus, Phillip H. Marshall
Effects Of Sole Gift Of Proceeds With No Disposition Of Corpus, Phillip H. Marshall
Cleveland State Law Review
What is the effect of an absolute devise of "proceeds" or "income" of the corpus of an estate where, under a general devise, words clearly importing the creation of a fee simple estate as to the corpus are lacking and there is no express or implied power of sale? More particularly we shall consider the above in the following circumstances:(1) When in the will there is contained an absolute gift of "proceeds" of the corpus; (2) A gift of "proceeds" of the corpus followed by limitation upon the corpus; and (3) Where under a bequest of "proceeds" along with creation …
Basic Principles Underlying Duty Of Loyalty, Earl R. Hoover
Basic Principles Underlying Duty Of Loyalty, Earl R. Hoover
Cleveland State Law Review
When the nation's 25th and 47th largest banks, The Union Trust Co. and the Guardian Trust Co. of Cleveland, cracked up in 1933, Ohio's Supreme Court cracked down on the violation of an old but little known rule of fiduciary law: the duty of undivided loyalty. Airing of the principles underlying the rule seems warranted. The rule necessarily is harsh, almost iron-clad. Defenses are few. A defendant inevitably cries on the court's shoulder the same old discredited excuses. Unless the court understands the reasons for the rule, such tears may sway it. Because violation is so costly, a client needs …