Conflicts Keyed to Currie
Guaranty Trust Co. of New York v. York
CaseCast™ – "What you need to know"
York (Plaintiff) brought suit in federal district court in New York on behalf of a class of persons allegedly damaged by Guaranty Trust Co.’s (Defendant) breach of trust. The suit was brought in 1942, but complained of transactions occurring in 1931. Guaranty Trust (Defendant) was granted a summary judgment on the grounds that the action was barred by the New York statute of limitations and that this suit being heard on diversity jurisdiction was governed by the statute. The court of appeals reversed, stating that suits in equity were not controlled by the state statute of limitations.
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