Bell v. Fine Products Co.
Bell v. Fine Products Co.
Opinion of the Court
Appellant Bell brought suit against ten defendants, all having some connection with the corporate defendant
Litigation in the lower court of appellant’s two-count "Complaint of Equity” resulted in the dismissal of Count 1 and the striking of several allegations of Count 2 and the dismissal of several of the parties defendant to the suit, from all of which appellant did not perfect an appeal. The essence of what remains in appellant’s amended complaint are allegations that defendants Samuel F. Maguire and William F. Maguire, as investment trustees of the profit sharing trust, of which appellant was a beneficiary, did make certain loans to themselves and to a defunct corporation without authority, and that the other remaining defendants, Ashmore, Kilpatrick and C. & S. Bank of Augusta, as administrative trustees of the fund, failed to collect these loans, and that appellant is entitled to an accounting of the monies lent. These trustees answered, filed affidavits and moved for summary judgment based on the grounds that (1) appellant had been given an accounting and admits same in his affidavit, and (2) appellant’s retention of a check drawn on the trust fund and representing his entitlement to the fund constituted an accord and satisfaction. The trial court granted the motions for summary judgment as to all remaining defendants, and appellant appeals. Held:
1. Appellee, William F. Maguire’s motion to dismiss the appeal is denied. The order granting summary judgment in his favor is a specific order from which appellant appeals.
2. The only real issue presented by this appeal is whether or not appellant is entitled to an accounting in regard to alleged "fraudulent, illegal, improper, and self-dealing acts of the trustees, William F. Maguire and Samuel F. Maguire.” Appellant contends that these acts have materially affected his interest in the profit sharing trust.
The record shows that appellant was given an accounting from defendant Ashmore concerning the very loans about which he complains. Even though the
Judgment affirmed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.