Allard v. Pacific National Bank
Washington Supreme Court
663 P.2d 104 (1983)
- Written by Sara Rhee, JD
Facts
J.T. and Georgiana Stone created a trust in favor of their children, Freeman Allard and Evelyn Orkney (plaintiffs). The Stones named Pacific National Bank (Pacific Bank) (defendant) as trustee. In 1978, the trust’s sole asset was land located in downtown Seattle. The trust language gave Pacific Bank full power to manage, sell, or exchange the property. The property was subject to a 99-year lease held by Seattle-First National Bank (Seafirst Bank). Under the lease, Seafirst Bank had the right of first refusal to purchase the property. In 1977, Seafirst Bank transferred its interest in the property to the City Credit Union of Seattle (Credit Union). In 1978, Credit Union offered to purchase the property for $200,000.00. Pacific Bank accepted the offer and gave Credit Union the deed on August 17, 1978. On September 26, 1978, Pacific Bank notified the plaintiffs of the sale. The plaintiffs brought suit in the King County Superior Court, alleging that Pacific Bank breached its fiduciary duty in managing the trust.
Rule of Law
Issue
Holding and Reasoning (Dolliver, J.)
What to do next…
Here's why 802,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 46,300 briefs, keyed to 988 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.
