Rasmuson v. Walker Bank & Trust Co.

625 P.2d 1098, 102 Idaho 95, 1981 Ida. LEXIS 301
CourtIdaho Supreme Court
DecidedMarch 23, 1981
Docket13256
StatusPublished
Cited by22 cases

This text of 625 P.2d 1098 (Rasmuson v. Walker Bank & Trust Co.) is published on Counsel Stack Legal Research, covering Idaho Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Rasmuson v. Walker Bank & Trust Co., 625 P.2d 1098, 102 Idaho 95, 1981 Ida. LEXIS 301 (Idaho 1981).

Opinions

DONALDSON, Justice.

This case is an appeal and cross-appeal of a district court’s granting of summary judgment in part for plaintiff and in part for defendant regarding, inter alia, the reasonableness of the opportunity to respond to an affidavit filed shortly before summary judgment proceedings, the prohibiting of the trustee from charging costs and attorney fees against the trust, the trustee’s management and sale of capital stock trust assets, and the infliction of emotional distress.

STATEMENT OF, FACTS

Mr. J. S. Hanzel bequeathed considerable wealth including farm property in Cassia County and 100 shares of capital stock in Cassia National Bank (hereinafter Cassia) to Walker Bank & Trust of Utah (hereinafter Walker) in trust. His daughter, plaintiff-appellant Dorothy Rasmuson, was one of the trust’s beneficiaries. In his Will, he directed the trustee not to sell the Cassia stock unless the present directors of Cassia sell their stock.

After Hanzel’s death but prior to delivery of the estate assets to the trustee, Cassia merged with the Bank of Idaho, a subsidiary of Western Bancorporation (hereinafter Western). At the time of merger, all Cassia shareholders, including Cassia’s directors and the executor of the Hanzel estate, exchanged their Cassia shares for shares of Western. Specifically, the executor exchanged the 100 Cassia shares for 2,540 shares of Western. These 2,540 Western shares were later transferred to trustee Walker along with the other assets of the trust. Mrs. Rasmuson informed trustee Walker of the merger and of her desire that the Western stock not be sold. When a Walker trust officer visited her in 1973 in Idaho, she agreed to the limited sale of 1,000 shares of Western. The remaining 1,540 shares were sold in July of 1976 without her consent or court approval.

Trustee Walker received stored corps as rental payments for the farm land held in trust. In 1976, the farmer-tenant informed Mrs. Rasmuson that some of the stored corps had not yet been sold. Mrs. Rasmuson soon thereafter informed the trustee of this fact. It was later discovered that the produce received in 1974,1975, and 1976 had not been marketed. Walker than marketed the crops at a price lower than the crops would have been sold for in 1974 or 1975. On November 14, 1976, Mrs. Rasmuson requested restoration of the trust assets lost due to the trustee’s marketing oversight. Walker offered restoration of lost assets to the trust provided that plaintiff give defendant a release for all claims. Unwilling to release all claims, Mrs. Rasmuson filed a complaint on June 30, 1977. Walker paid $8,286.19 restoration on March 8, 1978. This restoration sum represented the difference between the market price existing at a reasonable time after harvest and the market price actually obtained, plus five percent interest. Plaintiff later agreed with defendant’s calculations except she maintained that the proper interest rate was between six and eight percent.

Plaintiff’s complaint sought the following remedies: (1) damages for breach of the trustee’s fiduciary duty by failing to timely market the 1974 and 1975 crops, (2) damages for breach of the trustee’s fiduciary duty by selling the Cassia stock at a loss without proper authorization, (3) removal of Walker as trustee, (4) damages for the infliction of emotional suffering caused by negligent, bad faith and reckless trust management, and (5) attorney fees and costs for [97]*97all counts. After a short discovery phase, defendant Walker moved for summary judgment as to one and two and for judgment on the pleadings as to three and four. Since matters outside the pleadings were presented to and accepted by the district court, it treated all motions as ones for summary judgment.

In the afternoon of the last workday immediately prior to the day of the summary judgment proceeding, plaintiff filed the affidavit of Robert D. Seibel, a person engaged in the general business of stock brokerage and investments. At the summary judgment proceeding on January 2, 1979, defendant Walker requested that the court proceed with the motion for total summary judgment on all counts in spite of the late filing of the Seibel affidavit. Additionally, Walker argued that Mr. Seibel’s affidavit was irrelevant to this lawsuit and that Walker’s answers to plaintiff’s interrogatories nullified the statements presented by Mr. Seibel’s affidavit. Walker’s counsel also stated that he had “agreed to hear this matter that [plaintiff] has been raising without giving [him] much notice at all....” While taking the summary judgment under advisement, the district court informed both parties that they could submit additional information but that the court would not delay disposing of the case waiting for it. Defendant Walker submitted no additional information.

On January 8,1979, the trial court granted summary judgment in part to the moving party, defendant Walker, and in part to the nonmoving party, plaintiff Rasmuson. The court required defendant Walker in regards to the proceeds from the sale of the crops to pay $895.41 additional interest, $60.05 interest from March 8, 1978, and $500 attorney fees; dismissed the count relating to the sale of stock; ordered defendant to petition for withdrawal as ’trustee in the appropriate court and pay all related expenses with no charge to the trust; dismissed the counts seeking damages for emotional suffering; denied all other requests for attorney fees and costs; and directed that the trust not be charged with any costs or attorney fees.

SUMMARY JUDGMENT

Defendant Walker argues on cross-appeal that since the plaintiff had no summary judgment motion pending before the court, it was improper for the district court to grant partial summary judgment for the plaintiff.

In Huyck v. Heckla Mining Co., 101 Idaho 299, 300, 612 P.2d 142, 143 (1980), this Court stated:

“[T]hat summary judgment should be granted only when the pleadings, depositions and admissions, together with affidavits, if any, show that there is no genuine issue as to any material fact, and that the moving party is entitled to a judgment as a matter of law. The facts are to be liberally construed in favor of the party opposing the motion, who is also to be given the benefit of all favorable inferences which might be reasonably drawn from the evidence.” (citations omitted).

Furthermore, this Court has recognized that a district court is empowered to grant summary judgment to a nonmoving party in appropriate circumstances. Just’s, Inc. v. Arrington Construction Co., 99 Idaho 462, 476, 583 P.2d 997, 1011 (1978). See Idaho State University v. Mitchell, 97 Idaho 724, 733, 552 P.2d 776, 785 (1976); Glenn Dale Ranches, Inc. v. Shaub, 94 Idaho 585, 587 n. 4, 494 P.2d 1029, 1031, n. 4 (1972). Whether summary judgment is appropriate under the circumstances of the respective issues in this case is discussed below.

REASONABLE OPPORTUNITY TO RESPOND

In the case at bar, defendant Walker further argues on cross-appeal that it did not have a reasonable opportunity to respond to Mr. Seibel’s affidavit. The record indicates that defendant Walker did not file pursuant to I.R.C.P.

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Rasmuson v. Walker Bank & Trust Co.
625 P.2d 1098 (Idaho Supreme Court, 1981)

Cite This Page — Counsel Stack

Bluebook (online)
625 P.2d 1098, 102 Idaho 95, 1981 Ida. LEXIS 301, Counsel Stack Legal Research, https://law.counselstack.com/opinion/rasmuson-v-walker-bank-trust-co-idaho-1981.