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LEIDY CHEMICALS FOUNDATION, INC. v. FIRST NAT'L BK.

[No. 109, September Term, 1975.]

276 Md. 689 (1976)

351 A.2d 129

LEIDY CHEMICALS FOUNDATION, INC. v. FIRST NATIONAL BANK OF MARYLAND, ETC. ET AL.

Court of Appeals of Maryland.

Decided February 3, 1976.

Attorney(s) appearing for the Case

W. Michel Pierson, with whom were Pierson & Pierson on the brief, for appellant.

Robert M. Thomas, with whom were Alexander I. Lewis, III, Venable, Baetjer & Howard, Melvin J. Sykes, Searle E. Mitnick, Kenneth P. Niman and Kaplan, Heyman, Engelman & Belgrad on the brief, for appellees.

The cause was argued before SINGLEY, SMITH, DIGGES, LEVINE, ELDRIDGE and O'DONNELL, JJ., and J. HODGE SMITH, Administrative Judge of the District Court of Maryland for District 6, specially assigned.

SINGLEY, J., delivered the opinion of the Court.

This appeal from a decree of the Circuit Court of Baltimore City calls for an examination of our law regarding the exercise of powers of testamentary appointment.

In December, 1933, Samuel M. Leidy (Samuel) and his son, John Jacob Leidy (John), entered into a trust agreement with Samuel K. Dennis and the Fidelity Trust Company, as trustees. The trust was funded with certain policies of insurance on the lives...

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