DUNLAP v. PEOPLES NAT. BANK OF GREENVILLE

18880

252 S.C. 330 (1969)

166 S.E.2d 313

William A. DUNLAP and James C. Dunlap, Jr., Administrators C.T.A. of the Estate of Susan F. Stringer, Florence Fain, Louise Fain Gerry, Lucy Fain By E. Randolph Stone, Guardian Ad Litem, Dorothy Fain By South Carolina National Bank, Committee, James C. Dunlap, Jr., Virginia Dunlap Shelton, William A. Dunlap, John K. Dunlap, Noel Frances Symons By E. Randoph Stone, Guardian Ad Litem, and Thomas William Symons, Respondent-Appellants, v. The PEOPLES NATIONAL BANK OF GREENVILLE, as Committee for Susan Fain Stringer, a person non compos mentis, Petitioner-Respondent. In re James C. DUNLAP, Jr., Plaintiff, v. Susan Fain STRINGER, William A. Dunlap and The Peoples National Bank of Greenville in its capacity as an individual corporation and as Trustee under agreement with Susan Fain Stringer dated April 23, 1956, Defendants.

Supreme Court of South Carolina.

February 24, 1969.


Attorney(s) appearing for the Case

Messrs. Wyche, Burgess, Freeman & Parham and Rainey, Fant & Horton, of Greenville, for Respondents-Appellants.

Messrs. Leatherwood, Walker, Todd & Mann, of Greenville, and John M. Spratt, of York, for Petitioner-respondent.


February 24, 1969.

LITTLEJOHN, Justice.

In April, 1956, Mrs. Susan Fain Stringer settled approximately $400,000 in properties in a revocable trust with the Peoples National Bank (hereinafter referred to as "the bank") as trustee. The trust agreement provided for compensation to the bank of five per cent of annual net income and one-half per cent of the value of the assets upon termination of the trust after a period of more than ten years. The terms of the...

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