Page:United States Statutes at Large Volume 47 Part 1.djvu/1288

 1264 Removal by district Court. Ante, p. 1280. Succession or ap- pointment of new trus- tees. Appointment by Court. Survivorship be- tween cotrustees. When district court to appoint. AGENCY IN GEN. ERAL. DEFINITION OF AGENCY SEC- 1035- AaENCY, WHAT .-An agent is one who represents an- other, called the principal, in dealings with third persons. Such represent ation is called ag ency. Csoss REF nsIN0Es Ante, p. 1261. Agents, see sec tions 87 5 to 878. Ante, p . 1251. Factors, see sections 879 et seq. Definition. Capacity to appoint ; to serve as. General or special. Actual or ostensible. 72d CONGRESS- SESS. II. CH. 128. FEBR UARY 27, 1933 . 3. By such means as may be prescribed by ,the declaration of trust ; 4. By the consent of the benefieiary,if he have capacity to con- tract ; 5- By the judgment of a competent tribunal, in a direct proceed- ing for that purpose, that he is of unsound mind ; or 6. By the district, court. SEC. 1031 . REMOVAL aY DISTRICT c ot mr. -The distr ict court may remove an y trustee who has violated or is unf it to exe cute the trust, or may accept the resignation of a trustee. (' gg REB'EB.ENCE Re mov al for adverse interest, see section 1001. SUCCESSION OR APPOINTMENT OF NEW TRUSTEES SEC, 1032. APPOINTMENT OF TRUSTEE BY COURT TO FILL vACANCY : The dis trict court must a ppoint a tru stee wh enever there is a va- cancy, and the declaration of trust does not provide a practical method of app ointme nt- In all c ases o f appoi ntment of an y trus tee or trustees by any court if the cestui quo trustent, or any one of them are of the age of tlourteen years, they, or the one or more of them of the age of fourteen years, may make nomination, to the court, and unless such nominee or nominees are incompetent, upon one or more of the grounds of incompetency specified in the Code of Civi l Proc edure, to di scharg e the duties of tru stee, the co urt must appoint such nominee, or nominees, as trustee, or trustees, as the case may be. SEC . 1033- SURvIvoBSHIP BETWEEN coTRIISTEES .-Onn the death, re- nunciation, or discharge of one of several cotrustees the trust sur- vives to the others. SEO : 1034 . DISTRIOr couaT To AP POINT TRUS TEE W EN.-When a tr ust exist s without any appo inted tru stee, or where al l the tru stees renounce, die, `or are discharged, the district court must appoint another trustee and direct the execution of the trust- The court may, in its discretion, appoint the original number, or any less number of trustees. CH APTE R 51 .-AGENCY IN GENERAL SEC. 1036- WHO MAY APPOINT, AND WHO MAY BE AN AGENT .-Any person having capacity to contract may appoint an agent, and any person may be an ag ent. SEC. 1037. AGENTS, GENERAL OR SPECIAL .-An agent for a particular act or transaction is called a special agent- All others are general agents. Sno. 1038 . AOEN.CY, ACTUAL OR o5TEN SIBLE .-An agenc y is eith er actual or ostensible.