Cunningham v. Cunningham

“A clear duty of the guardian, defined by statute, is to loan the moneys of the ward, and, in making loans, to require bond and mortgage, or good personal security. * * * When, on the credit of the borrower alone, whether an individual, or a partnership, or a corporation,” he hazards the money of the ward, he departs from the line of his authority and duty, and becomes an insurer against loss to the ward. Whatever be the credit or solvency of the borrower, the guardian is absolutely liable for a loan without security — “liable, because the loan is a breach of trust, a violation of duty.”…