Schofield v. Cleveland Trust Co.
Schofield v. Cleveland Trust Co.
Opinion of the Court
OPINION
In this action, a successor trustee seeks to hold defendant bank liable on the theory that as the depository of trust funds derived from the testamentary trust created by testator in •the Schofield Building in Cleveland, Ohio, it participated with the original trustee, as aided by all the original beneficiaries sui juris and the legal guardian of the then minors, in numerous diversions occurring from the inception of the trust in 1917 virtually until the appointment of the successor trustee in 1935.
For a complete historical and chronological statement of fact, reference is made to the reported opinion of the trial court found in 24 O O 345.
Both parties, in writing, requested separate findings of fact and conclusions of law, and the court complied with extensive findings, reciting at the end thereof that consideration had been given suggestions of all counsel, including the interrogatories attached to plaintiff’s request and that the findings made substantially answered all interrogatories and requests made.
The trial court found as to the first group of remaining claims that the bank had no actual notice of the diversions; and, as to the second group, that, while the bank was charge-' able with notice that trust funds were being used to pay personal obligations of the brothers, it had no knowledge that such payments were wrongful or in breach of the trust, and that all such payments were made more than four years prior to the commencement of the action. There is substantial evidence in the record to sustain these findings and they may not, therefore, be disturbed by a reviewing court.
We find no error in the record, prejudicial to appellant, and in the main approve the reasoning and authority contained in the opinion of the trial court, above referred to.
The judgment is, therefore, affirmed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.