In re the Judicial Settlement of the Account of Proceedings of United States Trust Co.

The United States Trust Company of New York was the trustee of a testamentary trust which terminated upon the death of the life beneficiary on October 13, 1935. The trustee rendered an account to the remainderman, turned over to her the assets of the trust, and obtained from her a general release. About two years later an action was instituted in the Supreme Court, New York County, by the assignee of the remainderman against the trustee to recover $10,000 and interest because of the investment of that sum in a bond and mortgage. It was alleged that the mortgage was not suitable for investment…