Farmers & Merchants Bank v. Sanford
Supreme Court of Alabama
Appeal from Clay Cliancery Court. Heard before Hon. W. W. Whiteside. Bill by the Farmers & Merchants Bank of Abbott, Tex., for interpleader in proceedings for the settlement of the estate of ,J. D. Howell, deceased, of' which J. B. Sanford was administrator. From a decree dismissing the hill, orator appeals. This was a bill filed by the Farmers' & Merchants’ Bank, a partnership, for inter-pleader in the cause pending in the Olay chancery court.
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Appeal from Clay Cliancery Court. Heard before Hon. W. W. Whiteside. Bill by the Farmers & Merchants Bank of Abbott, Tex., for interpleader in proceedings for the settlement of the estate of ,J. D. Howell, deceased, of' which J. B. Sanford was administrator. From a decree dismissing the hill, orator appeals. This was a bill filed by the Farmers' & Merchants’ Bank, a partnership, for inter-pleader in the cause pending in the Olay chancery court. The case made by tbe bill is that at a time when W. 8. Howell, who resided in the state of Texas, was the administrator of the last will and testament…
1Opinion of the CourtAnderson, J.
“While the power of an executor or administrator, over the dioses in action in his hands for administration, is of necessity large ,and may be dealt with generally as if he was the owner of them, he is without authority to apply them in payment of his individual debts. Whoever accept them as security for or in payment of such debts has full notice of the abuse his fiduciary power and duty, and must be made answerable for them.”—Shelton v. Carpenter, 60 Ala. 211; Swoope v. Trotter, 4 Port. 27; Chandler v. Chandler, 87 Ala. 300, 6 South. 153. In the cases of Shaw v. Spencer, 100 Mass. 382, 97…
2Cases cited6 opinions
- Smith v. AyerSupreme Court of the United States · 1880
- Shaw v. SpencerMassachusetts Supreme Judicial Court · 1868
- Chandler v. ChandlerSupreme Court of Alabama · 1888
- Shelton v. CarpenterSupreme Court of Alabama · 1877
- Swoope v. TrotterSupreme Court of Alabama · 1836
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3Cited by6 opinions
- Goodell v. MonroeSupreme Court of New Jersey · 1917
- First Nat. Bank of Birmingham v. De JernettSupreme Court of Alabama · 1935
- Warren v. SouthallSupreme Court of Alabama · 1932
- Bank of Guntersville v. United States Fidelity & Guaranty Co.Supreme Court of Alabama · 1917
- Steinhart v. GregorySupreme Court of Alabama · 1912
1 more not listed; retrieve them via the Exa API.