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eBook details

• Title: Gillespie v. Seymour
• Author : Supreme Court of Kansas
• Release Date : January 17, 1991
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 72 KB

Description

The opinion of the court was delivered by This is an action by beneficiaries of a trust for recovery of damages for oil and gas investments made by the Trust. The case before us was determined in a bench trial and involves a very complex factual situation as witnessed by the trial court's entry of over 200 findings of fact. A highly summarized statement of the facts is as follows. Warren Brown was a wealthy Wichita businessman. In 1956, Mr. Brown created two revocable inter vivos trusts. His two children, Dorothy Brown Wofford and Pauline Brown Gillespie, were the co-trustees of each trust. In the trust instruments, the trustees were vested with full legal and equitable title to the trust property; the effect of such language will be discussed in the standing issue of this opinion. Broad powers were granted to the trustees as to the investment of trust property, to-wit:

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