In re the Estate of Fanara

John D. Bennett, S.

In this accounting proceeding, a question has been raised as to whether the executors are entitled to commissions on a promissory note in the amount of $181,308 and taken in return as part of the purchase price of a large block of Guardsman Chemical Coatings’, Inc. stock sold to Grow Chemical Corporation. The promissory note of Grow Chemical Corporation was divided into three separate notes and distributed to the three trusts under the will on June 30, 1971.

Since 1817, commissions of executors have been based solely upon two acts, one for receiving and the other for paying…