Case Name: JOSEPH W. CLARK, Respondent, v. THE FLINT AND PERE MARQUETTE RAILWAY COMPANY, Appellant
Court: New York Supreme Court
Jurisdiction: New York
Decision Date: 1875-10
Citations: 12 N.Y. Sup. Ct. 556
Docket Number: 
Parties: JOSEPH W. CLARK, Respondent, v. THE FLINT AND PERE MARQUETTE RAILWAY COMPANY, Appellant.
Judges: Present • — • Smith, P. J., Gilbeet and Meewin, J J.
Reporter: Supreme Court Reports (Hun)
Volume: 12
Pages: 556–556

Head Matter:
JOSEPH W. CLARK, Respondent, v. THE FLINT AND PERE MARQUETTE RAILWAY COMPANY, Appellant.
Trustees — right to purchase obligations of cestui que trust.
There is no rule of law or equity that incapacitates a trustee from purchasing the obligations of his cestui que trust which have become legally vested in a third person. If they are valid obligations they may be sold and transferred to any one, and such transfer will pass a good title to them.
Quaere, whether, in such case, the trustee will be permitted to enforce them for any greater sum than he paid for them.
Appeal from a judgment in favor of the plaintiff, entered upon the report of a referee.
H. 0. Chesebro, for appellant. E. W. Gardner, for respondent.

Opinion:
Opinion by
Gilbeet, J.
Present • — • Smith, P. J., Gilbeet and Meewin, J J.
Judgment affirmed, with costs.