TRUSTS-WHEN AGENT MAY PURCHASE OR LEASE FOR HIMSELF

Authors

Abstract

A recent Michigan case has suggested the question: When and under what circumstances may an agent or other fiduciary purchase or lease property for himself, and when will he be decreed a trustee thereof? In this case A owned real estate in Detroit. P and his partners, subtenants, made an offer for a long term lease through D, who appears to have been a special agent with the sole duty of presenting the offer. It was rejected, finally and absolutely, without fraud or collusion on the part of D. Almost immediately D made an offer on his own behalf which was accepted and the lease executed. P asked that D be decreed a trustee of the lease. The court held that D might lease for himself. George Poy et al. v. Allan, et al. (Mich. 1925) 204 N. W. 82.

Recommended Citation

TRUSTS-WHEN AGENT MAY PURCHASE OR LEASE FOR HIMSELF, 24 Mich. L. Rev. 294 (1926).
Available at: https://repository.law.umich.edu/mlr/vol24/iss3/10