Royall's Adm'r v. McKenzie
Supreme Court of Alabama
Appeal from tlie Chancery Court of Macon. Heard before the Hon. Wylie W. Maroh. This bill was filed, in 184T, by John Foster, as administrator.of William Royall, deceased, against John McKenzie and Amasa Howard, to compel a settlement and account of an assignment executed to the defendants by said Royall, in October, 1832, in Lancaster District, South Carolina, where the parties then resided.
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Appeal from tlie Chancery Court of Macon. Heard before the Hon. Wylie W. Maroh. This bill was filed, in 184T, by John Foster, as administrator.of William Royall, deceased, against John McKenzie and Amasa Howard, to compel a settlement and account of an assignment executed to the defendants by said Royall, in October, 1832, in Lancaster District, South Carolina, where the parties then resided. In 1841 said Royall had filed abill in the Chancery Court at Talladega, in. the name of himself and the creditors secured by the deed, against the said trustees, to compel a settlement of the assignment;…
1Opinion of the Court
GOLDTHWAITE, J. —
The first question presented by the assignment of errors is, as to the allowance of interest made by the master upon the available debts specified in the *368assignment. No principle is better settled, than that it is the duty of a trustee of a chose in action, to take every necessary step, compatible with reasonable diligence, to meet the object of the trust (Caffrey v. Darby, 6 Ves. 488; Mucklow v. Fuller, Jac. 198; Powell v. Evans, 5 Ves. 839; Tebbs v. Carpenter, 1 Mad. 290; Lewis v. Copeland, 6 Beav. 486); and it is not sufficient for the trustee merely to apply for payment,…
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