James Fitz-Gerald, Jr. v. H. Winston Hull

Summary

The Texas Supreme Court affirmed the Court of Civil Appeals, holding that the trial court erred in granting an instructed verdict and that the evidence raised a genuine issue of a constructive trust in favor of the plaintiffs. The Court found no express trust under the Texas Trust Act, applied the doctrine of constructive trust based on the fiduciary relationship of a joint venture, and rejected the Securities Act permit requirement.