Pennsylvania Supreme Court
191 A. 613 (1937)
The Erie Trust Co. (the Company) (defendant) served as the trustee of the estate of W.W. Gingrich (the Estate) (plaintiff). The Company improperly withdrew $25,819.80 as commissions from the Estate. The funds were placed in the general cash funds of the Company. Between the removal of the funds from the Estate and the institution of this action, the lowest cash balance in the general bank account was $2,865.40. The Company also maintained other cash items of $1,937.63 and deposits in other banks, which had a lowest cash balance of $6,373.23 during the same period. The Company used some of the funds to purchase certain securities, including bonds and a mortgage. The Company became insolvent and was appointed a receiver. The Estate sought to have priority for the funds improperly taken over other creditors of the Company. The trial court denied the request, and the Estate appealed to the Pennsylvania Supreme Court.
Rule of Law
Holding and Reasoning (Stern, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 218,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,100 briefs, keyed to 189 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.