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Lautz v. Sprague

Appellate Division of the Supreme Court of New York, Fourth Department
May 1, 1915
169 App. Div. 910 (N.Y. App. Div. 1915)

Opinion

May, 1915.


Judgment affirmed, with costs to each party appearing upon this appeal by separate brief, payable out of the corpus of the fund. Held, that under testator's will his widow was entitled to receive from the net income of the trust estate an annuity of $12,000, and if such income in any year should be insufficient to yield such annuity, then the trustees were authorized to temporarily borrow and take from the principal of the trust estate sufficient thereof to make up any such deficiency, subject, however, to restoration of said principal from surplus income as the same may accrue. All concurred.


Summaries of

Lautz v. Sprague

Appellate Division of the Supreme Court of New York, Fourth Department
May 1, 1915
169 App. Div. 910 (N.Y. App. Div. 1915)
Case details for

Lautz v. Sprague

Case Details

Full title:Amelia K. Lautz, Individually and as Trustee, etc., Respondent, v. Henry…

Court:Appellate Division of the Supreme Court of New York, Fourth Department

Date published: May 1, 1915

Citations

169 App. Div. 910 (N.Y. App. Div. 1915)