Stanley Matthews, Colt v. Colt — Opinion of the Court
“ How far in such a case their presence as parties is formal for the mere purpose of binding the legal title, or how far it is essential so as to impose upon them the active duty of defense, must depend upon the nature and terms of the trust, and the circumstances of particular cases. ”
Stanley Matthews, Colt v. Colt — Opinion of the Court
“ The subject-matter of the litigation was not any trust estate in property held by the executors for the appellants. It was the residuary stock, and the respective rights and interests of all the legatees in its distribution. The executors were not trustees for the appellants of their claim to share in this residuum, in the sense of being bound to assert it adversely to all others, for whom equally they were trustees of the residuum, although that claim was founded on the interest of the appellants in the 500 shares which the executors did hold for them in trust. ”
Stanley Matthews, Colt v. Colt — Opinion of the Court
“ In the original bequest to the children of Christopher Colt in the will, of annuities for education and support during minority, and 100 shares of stock payable on arriving at age, there are no words creating a trust; and yet the executors, in the mean time, were bound to them, in respect to these benefits and interests, as executors, and yet in trust, quite as much as they were, in respect to the 500 shares, by the words of that bequest. ”
