Bryant v. Craig
Supreme Court of Alabama
Writ of Error to the Orphans’ Court of Greene. On the final settlement of the accounts of the defendant in error, as guardian of Joseph H. Bryant, it appeared that the guardian had received for his ward a large sum of money. There was no evidence to show that he had lent, or attempted to lend the money so received by him.
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Writ of Error to the Orphans’ Court of Greene. On the final settlement of the accounts of the defendant in error, as guardian of Joseph H. Bryant, it appeared that the guardian had received for his ward a large sum of money. There was no evidence to show that he had lent, or attempted to lend the money so received by him. The ward then moved the court so to state the account, that at the end of each year, after the receipt of the money by the guardian, a balance be struck, and that the balance so struck, with interest for one year, be carried into the account of each succeeding .year, which,…
1Opinion of the CourtOrmond, J.
The manner in which the account of the guardian was stated, presents the question, whether a guardian who retains his ward’s money in his hands, without investing it, is subject to have annual rests made in his account, and charged compound interest.
The general rule applicable to all trustees is, that they should not be permitted to make a profit for themselves, by the employment of the funds in their hands, and if it be invested in trade, or otherwise profitably employed, the cestui que trust may insist on the profit so made, if he elect to do so. No question of that kind is made here, as it…
2Cases cited3 opinions
- Schieffelin v. StewartNew York Court of Chancery · 1815
- De Peyster v. ClarksonCourt for the Trial of Impeachments and Correction of Errors · 1828
- Hughes v. SmithCourt of Appeals of Kentucky · 1834
3Cited by18 opinions
- Simpson v. GreenTexas Commission of Appeals · 1921
- Lenore Williamson Burgess, Individually and as Guardian of the Estate of Ethel Jackson Williamson, a Non Compos Mentis v. Warren Jackson WilliamsonCourt of Appeals for the Fifth Circuit · 1975
- Smith v. Kennard'sSupreme Court of Alabama · 1863
- Satterfield, Ex'r. v. JohnSupreme Court of Alabama · 1875
- Willis v. RiceSupreme Court of Alabama · 1908
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