Meloy v. Nashville Trust Co.

This suit was brought by complainant as next friend of a minor, Phil J. Tinsley, against his guardian, the defendant Trust Company, for an accounting and a recovery of an alleged loss of the ward’s funds incurred by the guardian in making an unauthorized and unlawful mortgage loan investment of $12,500. The cause was heard, on the pleadings and stipulations and the bill dismissed by the chancellor, who found that the investment was not within the authorized class for a ward’s funds when made, but that by the Act of 1931, Chapter 100, the law was changed so as to make investments made in the…