Albert (Albet B. Farkas) employed new staff, Williams (Richard J. Williams). Albert liked Williams.
Albert set up a
trust for Williams. He bought stocks of IM (Investors
Mutual, Inc) at 4 times. Whenever he purchased stocks, he issued stocks with
the wiring message in his name “as trustee for Richard J. Williams.”.
IM admitted this application and Albert signed it. Albert died at a
house of Chicago without
will. At that moment, he was 67 years old. The
stock certificates were founded in a safety- deposit box of his Chicago house. Regina
& Victor (Regina Farkas and Victor Farkas) filed a suit againt Williams in Cook
County Court for a declaratory decree. The court judeged in favor of Regina &
Victor. Williams appealed.