17 Ala. 301 | Ala. | 1850
The general rule of law is, that a trustee cannot become the purchaser of the trust estate at his own sale, and we regret that an exception to it has ever been permitted to grow up in this State; for it is a salutary principle that forbids the character of both seller and buyer to be united in the same individual, as the interest of others must be involved in the act ■ of sale. ^But at an early day this court held that an executor : might become a purchaser at his own sale, which if fairly made could not be set aside, (Brannon v. Oliver, 2 Stew. 47); and although this case has been frequently questioned at the bar, yet it has never been overruled. — Beene v. Saltmarsh, 4 Porter 283; McLane v. Spence, 6 Ala. 894. We must therefore adhere to it, for it would probably be productive of more mischief than good now to depart from it. But in order to give validity to such a purchase, it must appear that the sale was fair and bomi fide. '¿If the circumstances connected with the transaction do-’ not show this, a court of equity must set it aside, and hold the executor a trustee for those interested in the due administration of the estate. Applying this test to the facts of the case before us, we have no hesitation in saying that the purchase of King, the administrator, in right of his wife, must be set aside. The evidence conclusively shows that the slaves, were of much greater value at the time of the sale than the administrator gave for them;
But it is urged on the part of those-who purchased the slaves St sheriff’s sale as the property of King, that they have obtained a title that a court of equity ought to protect. But they are not bona fide purchasers. Independent of their being purchasers at sheriff’s sale, they admit in their answers that they had notice of the claim of the complainants before they made their purchase. They therefore purchased at their own risk, and occupy no better 'ground than the administrator did.