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CAPITAL INVESTORS v. EXECUTORS OF MORRISON'S ESTATE

Nos. 85-2270, 85-2271.

800 F.2d 424 (1986)

CAPITAL INVESTORS CO., Plaintiff, v. EXECUTORS OF the ESTATE OF Arthur R. MORRISON, Appellants, and Webb C. Hayes, III, Personal Representative of the Estate of Norman B. Frost, Deceased; Sadie R. Dreisen, Personal Representative of the Estate of Harry Dreisen, Deceased, Appellees. CAPITAL INVESTORS, CO., Plaintiff, v. EXECUTORS OF the ESTATE OF Arthur R. MORRISON, Appellees, and Webb C. Hayes, III, Personal Representatives of the Estate of Norman B. Frost, Deceased; Sadie R. Dreisen, Personal Representative of the Estate of Harry Dreisen, Deceased, Appellants.

United States Court of Appeals, Fourth Circuit.

Decided September 12, 1986.

Attorney(s) appearing for the Case

James van R. Springer (Dickstein, Shapiro & Morin; Forses Ramsey, David C. Canfield, Tobert, Smith, Fitzgerald & Stackhouse, on brief), for appellants/cross appellees.

Lee T. Ellis, Jr. (Baker & Hostetler, Leonard H. Freiman, on brief), for appellees/cross appellants.

Before WINTER, Chief Judge, and RUSSELL and WIDENER, Circuit Judges.

DONALD RUSSELL, Circuit Judge.

This is the sixth appeal of a diversity action arising out of events which occurred in 1963.1 In May of that year, James Benn fraudulently persuaded Arthur R. Morrison to transfer a tract of Florida land to a company wholly owned by Benn, Capital Investors Company. Capital Investors in turn transferred the land in June of 1963 to Do-Mor Incorporated, a Florida Corporation, which gave in exchange for the land...

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