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DUNFEE v. TERWILLIGER

No. 4887.

15 F.2d 523 (1926)

DUNFEE v. TERWILLIGER.

Circuit Court of Appeals, Ninth Circuit.

November 8, 1926.

Attorney(s) appearing for the Case

Augustus Tilden, of Ocean Beach, Cal., and John F. Kunz, of Reno, Nev., for appellant.

H. R. Cooke, of Reno, Nev. (Cooke & Stoddard, of Reno, Nev., on the brief), for appellee.

Before GILBERT and RUDKIN, Circuit Judges, and NETERER, District Judge.

GILBERT, Circuit Judge (after stating the facts as above).

The ordinary expectancy of a renewal of a lease is regarded in equity as a valuable interest, and, if one who stands in a fiduciary relation to a person entitled to such beneficial interest secures a renewal to himself, a court of equity will treat him as holding the new lease in trust for the persons entitled to the beneficial interest in the original lease. This rule is well settled, and is accepted in both...

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