State v. Hart
Supreme Court of Missouri
By § 32, ch. 8, R. C. 1855, it is provided that an assignee failing to make payment of funds belonging to his trust in liis hands, after demand shall have been made therefor, shall pay interest thereon at the rate of twenty per cent, per annum.
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By § 32, ch. 8, R. C. 1855, it is provided that an assignee failing to make payment of funds belonging to his trust in liis hands, after demand shall have been made therefor, shall pay interest thereon at the rate of twenty per cent, per annum. This constitutes a cause of action for which suit may be instituted, and if judgment be rendered against the assignee, it is provided by law that such judgment shall be for the amount of money which he ought to have paid over at the time of such demand, together with interest at the rate of twenty per centum per annum. But here the law and the power of…
1Opinion of the Court
Holmes, Judge,
delivered the opinion of.the court. .
This was a suit upon the official bond of an assignee, given under the statute concerning assignments, and it is brought against the principal and his sureties to recover damages for a breach of the condition of the obligation, which was that the assignee should faithfully perform his duties as such, and execute the trusts confided to him.
The question raised is, whether the judgment to be rendered in such case shall bear interest at the rate of twenty per cent, per annum, under the 32d section of that act — R. C. 1855, p. 208. The court below…
2Cited by1 opinion
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