Carter v. Manufacturers' National Bank
Supreme Judicial Court of Maine
On report. This is an action brought by the plaintiff in his capacity as administrator de bonis non, with the will annexed, of the estate of Asa Redington, deceased, for the conversion of fifty shares of the capital stock of the Little Androscoggin Water Power Company.
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On report. This is an action brought by the plaintiff in his capacity as administrator de bonis non, with the will annexed, of the estate of Asa Redington, deceased, for the conversion of fifty shares of the capital stock of the Little Androscoggin Water Power Company. It was admitted that the stock in question ivas the property of Asa Redington in his life time; that John G-. Cook was duly qualified as executor of the estate; that Cook after his appointment and qualification had the stock transferred on the books of the company into the name of "John G. Cook, Executor;” that Cook on the…
1Opinion of the CourtVirgin, J.
The main question is, whether the bank obtained a valid title to the shares of stock pledged to it by the executor as collateral security for the payment of his note.
The interest which an executor, as such, has in the personal estate of his testator is not the absolute title of an owner, else it might be levied on for his personal debts; but he holds '/in auter *450droit — as the minister and dispenser of the goods of the dead. Wentw. Off. Ex. (14th ed.) 196; Pinchon’s Case, 9 Coke, 86, 5; Dalton v. Dalton, 51 Maine, 171; Weeks v. Gibbs, 9 Mass. 76; Hutchins v. State Bank, 12 Met. 423. As soon as…
2Cases cited7 opinions
- Smith v. AyerSupreme Court of the United States · 1880
- Duncan v. JaudonSupreme Court of the United States · 1873
- Petersen v. . Chemical BankNew York Court of Appeals · 1865
- Field v. SchieffelinNew York Court of Chancery · 1823
- Weeks v. GibbsMassachusetts Supreme Judicial Court · 1812
2 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- In Re the Estate of HeinzeNew York Court of Appeals · 1918
- Goodell v. MonroeSupreme Court of New Jersey · 1917
- Pond v. Pond's EstateSupreme Court of Vermont · 1906
- In Re the Estate of MorineSupreme Judicial Court of Maine · 1976
- McAuslan v. Union Trust CompanySupreme Court of Rhode Island · 1924
4 more not listed; retrieve them via the Exa API.