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Executors'accounts

Executors'accounts


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1919 Excerpt: ... it was held the executors were liable. A direction to carry on business could not be extended to the collection of debts. Pistor v. Dunbar, 1 Anstr. 107, 3 R. R. 561. An authority to the executors or executor acting under the will to carry on the testator's business, if they should see fit, does not authorize an administrator with the will annexed to carry on the business. Lambert v. Rendle, 3 N, R. 247, 143 R. R. 891. The rule that an executor is liable for all profits made in carrying on the testator's business is subject to some limitation where the executor is also the residuary legatee, or the business has been specifically bequeathed to him. In such a case the executor is liable only for the actual value of the assets and not for the profits. In re Mullon, 14 N. Y. 98; Re Van Houten, 18 N. Y. App. Div. 301. Jf a trustee in the course of the ordinary management of his testator's estate, either by himself or his agents, does some act whereby some third person is injured, and that third person, recoyers damages against the trustee in an action for tort, the trustee, if he has acted with due diligence and reasonably, is entitled to be indemnified out of the testator's estate. Where a trustee was carrying on his testator's colliery business for the benefit of the estate, and, in so doing, let down the surface of the land and thereby injured the buildings on the adjoining land of a third party, for which the latter recovered a judgment for damages against the trustee, the Court held he was entitled to be indemnified out of the estate which was in course of administration. In re RaybonhJ (1900), 1 Ch. 199.' CHAPTER XXV. Compounding Claims. Section 52' of the Trustee Act is as follows: --52.--(1) A personal representative may pay or allow any debt or claim on..


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Product Details
  • ISBN-13: 9781231386248
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 180
  • Spine Width: 10 mm
  • Width: 189 mm
  • ISBN-10: 123138624X
  • Publisher Date: 12 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 331 gr

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