In re the Estate of Lipsit

The substantial issue presented on this appeal in an accounting proceeding is whether the coexecutor Barnhard may interpose the defense of the Statute of Limitations with respect to promissory notes and checks which he had concededly executed and delivered to his testator and which were held by the testator at the time of his death. The disposition of this issue turns essentially on a construction of section 203 of the Surrogate’s Court Act.

The testator, Moise Lipsit, executed his will on January 26, 1956 and died on August 6, 1958. Letters testamentary were issued to Barnhard and to the…