TRUSTS, § 158 — trustee's right, under trust agreement, to sell trust property for corporate stock. Where liquidation trust agreement gave trustee full power "to sell trust property . . . to another trust or to corporation now or hereafter organized in exchange for stocks, bonds or other securities of such corporation or trust," held that trustee had right, over objection of holder of minority number of units in trust, to sell trust property to newly-organized corporation "in exchange for stocks" thereof; that, although carrying out of deal might not be "sale" within technical definition of that term, word "sale," as used in trust agreement, was broader, and authorized trustee to sell and convey trust property and take in payment thereof stock in corporation.
See Callaghan's Illinois Digest, same topic and section number.
MATCHETT, J., dissenting.
Opinion by JUSTICE O'CONNOR.
Not to be published in full. Opinion filed December 11, 1944; rehearing denied December 26, 1944; released for publication December 27, 1944.