Legal Opinion
Chemical Bank & Trust Co. v. Reynaud
New York Supreme Court
Decided January 6, 1933PublishedCited by 5 opinions
1Opinion of the CourtShientag, J.
The final account of the trustee of a voluntary trust created inter vivos in 1899 has been surcharged by the referee with respect to three items: (1) Loss resulting from the alleged negligent retention of certain bonds; (2) unexplained payment of a sum of money to the settlor; (3) a payment to a firm of accountants for services performed in connection with the preparation of the final account. The settlor of the trust died in 1916.
I. The non-legal character of the securities did not cause their retention to be at the risk of the trustee. Negligence must be predicated on something more. The…
2Cases cited5 opinions
- King v. . TalbotNew York Court of Appeals · 1869
- In Re the Accounting of Fulton Trust Co.New York Court of Appeals · 1931
- Costello v. . CostelloNew York Court of Appeals · 1913
- Purdy v. . LynchNew York Court of Appeals · 1895
- In re the Estate of ParsonsNew York Surrogate's Court · 1932
3Cited by5 opinions
- In re the Estate of BalfeNew York Surrogate's Court · 1934
- Katsaros v. CodyDistrict Court, E.D. New York · 1983
- Boland v. Mercantile-Commerce Bank & Trust Co.Supreme Court of Missouri · 1942
- In re the Accounting of McMillanNew York Surrogate's Court · 1957
- In re the Estate of BowneNew York Surrogate's Court · 1957