Day v. Trust
47 Cal. App. 2d 470 ·
California Court of Appeal · Filed
Published · citable
Holding
The court held that a trustee who exercises the degree of care, skill, and caution of a prudent person in managing trust investments is not liable for losses resulting from a general economic depression, and that a beneficiary who acquiesces in investment decisions and retains the benefits of a trust arrangement may not later contest those specific transactions.