Opinion
Gen. No. 9,941. (Abstract of Decision.)
Opinion filed April 27, 1944
TRUSTS, § 141 — power of trustee to enter into contract with third person in course of administration of trust. A trustee has the power to enter into a contract with a third person in the course of the administration of a trust when such power is expressly given him by the trust instrument, or when the making of the agreement is reasonably necessary to the execution of the purposes of the trust, and therefore impliedly authorized, and in ascertaining whether the trustee has power to make a contract of the latter class, reference must be had to the question whether the contract has any important bearing upon the accomplishment of the object which the creator of the trust intended to reach through such trust.
See Callaghan's Illinois Digest, same topic and section number.
Appeal from the Circuit Court of Will county; the Hon. JAMES V. BARTLEY, Judge, presiding.
Reversed and remanded with directions. Heard in this court at the February term, 1944;
Donovan, Bray Gray, for appellant;
Kirkland, Fleming, Green, Martin Ellis, for certain appellees.
Gariepy Gariepy, for certain other appellee.
James G. Holbrook, co-counsel for appellees; Walter C. Senne, Fred A. Gariepy and John Spalding, of counsel.
Not to be published in full. Opinion filed April 27, 1944.