Sims v. Russell

BOULDIN, Justice.

The sole question for decision is whether the guardian of the estate of minors should have been charged on final settlement with the loss of the funds of the wards through a loan made by the guardian, which became, in large part, uncollectable.

The loan of $1,000 was made in 1926, secured by the note of the borrower, with a pledge of stock in a National Bank of the face value of $1,000 as collateral security. The note was due one year after date. Interest payments were made regularly until 1930; irregularly until October, 1931, when the debtor became a bankrupt.

The claim was…