Legal Opinion

Estate of Horner v. Horner

Missouri Court of Appeals

Decided May 12, 1896PublishedCited by 4 opinions

Appeal from the. Greene Circuit Court. — Hon. James T. Neville, Judge. It is only where the trust funds are mingled with the personal funds of the trustee, that liability attaches to him for loss on account of the bank’s failure, in the event that ordinary prudence was exercised in the selection of such depository; for such commingling amounts to a conversion of the funds. 1 Perry on Trusts, sec. 128; 2 Pomeroy’s Eq. Jur., sec. 1076, p. 654; Parsley's Adm'r v. Martin, 46 Am.

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1Opinion of the CourtBond, J.

Plaintiff in -this case is the executor of ¥m. T. Horner, deceased, and as such on March 1, 1893, received from one Little, a draft for $800 and a check for a small interest thereon, said sums being in discharge of an indebtedness from Little to plaintiff’s testator. Plaintiff deposited the $800 draft in the Bank of Commerce at Springfield, Missouri, taking therefor the following certificate:

“Bank of Commerce, No. 3783.

“Springfield, Mo., March 13, 1893.

“$800.

“W. H. Payne, Jr., has deposited in this bank eight hundred dollars payable in current funds to the order of himself on the return of…

2Cases cited1 opinion

Atterberry v. McDuffeeMissouri Court of Appeals · 1888

3Cited by4 opinions

Chancellor v. ChancellorSupreme Court of Alabama · 1912
Mo. Mutual Association v. Holland Banking Co.Missouri Court of Appeals · 1927
State Ex Rel. Swan v. TaulMissouri Court of Appeals · 1933
Buder v. HoltSupreme Court of Missouri · 1938