Dreier v. Durst

On July 10, 1915, J. H. Durst was duly appointed and qualified as testamentary trustee under the will of John Dreier. A promissory note for $8,450, secured by a mortgage, executed by John Yuan on April 24, 1915, and due on April 24, 1920, constituted the principal asset of the trust estate which came into the trustee’s possession. On the accounting in the county court the issues finally narrowed down to the trustee’s responsibility for the loss sustained by his acceptance of that note and mortgage as a trust investment, and his failure to enforce payment of that obligation when it became due…