Steele Estate’s Empirical Analysis

Citation profile

48 state decisions

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 54 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “"While the term 'self-dealing’ sufficiently identifies the rule, it does not define its limitations. The rule is stated in Restatement, Trust, Section 170 (1) in the following form: 'The trustee is under a duty to the beneficiary to administer the trust solely in the interest of the beneficiary.’ The appellants agree that there may be conflict of interest between them as trustees of the daughter’s trust and as directors of the corporation. Both interests were created by the testator to be enjoyed as limited by his will. The mere existence of the conñict cannot be allowed to destroy the trust because the testator had the power to specify the terms on which he bequeathed his property. ... The testator, having the power to do so, created the conñict which became a fact or condition in the administration and devolution of his property to be observed by his executors and trustees. This administration is subject to the scrutiny of the courts, who restrain or otherwise pass on charges of breach of trust. It is at this point in our review, that the error of the learned court below stands out. The record shows no fraud on the part of the trustees; they acted in good faith; the challenged action is within the provisions of the will. Why then, on the life tenant’s exception, did the learned judge set aside the redemption of the preferred stock shown in the second account? He leaves no doubt on the subject: he states that, 'In voting for redemption, Mr. Flagg was duty bound to serve the ”

   1 later decision quote this exact passage
   e.g. Rubin v. Goldman