De Jarnette v. De Jarnette
Supreme Court of Alabama
Appeal from the Chancery Court of Autauga. Heard before the Hon. Jno. Q. Loomis, In the matter of the final settlement of the accounts of William P. De Jarnette, as trustee for James T. De J arnette.
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Appeal from the Chancery Court of Autauga. Heard before the Hon. Jno. Q. Loomis, In the matter of the final settlement of the accounts of William P. De Jarnette, as trustee for James T. De J arnette. The trust was created by the will of John P. De Jarnette, deceased, which was admitted to probate, in the probate court of said county, on the 13th September, 1853. The will was dated the 9th December, 1848, and made provision for an equal division and distribution of the the testator’s estate among his widow and children, of whom the said James T. De Jarnette was one; and a codicil to said will,…
1Opinion of the CourtA. J. Walker, C. J.
A trustee loaned the funds of the trust, on note and mortgage executed to himself individually. This was a commingling of the trust funds with his own, and a destruction of their identification; and therefore he is liable for their loss. This principle may work an individual hardship in this case ; but it is the law, long established, and recognized by the courts as “essential to the general interests of mankind.”—Lewin on Trusts, m. p. 296, 333; 2 Story’s Equity, § 1270; Fonblanque’s Equity, 474, n.; Freeman v. Fairlie, 3 Merivale, 28; Wren v. Katon, 11 Vesey, 377; Massey v. Banner, 4 Mad.…
2Cases cited6 opinions
- Hart v. EyckNew York Court of Chancery · 1816
- Kellett v. RathbunNew York Court of Chancery · 1833
- Tomkies v. ReynoldsSupreme Court of Alabama · 1849
- Diffenderffer v. WinderCourt of Appeals of Maryland · 1831
- Verner's EstateSupreme Court of Pennsylvania · 1837
1 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- White v. ShermanIllinois Supreme Court · 1897
- First Nat. Bank of Birmingham v. BashamSupreme Court of Alabama · 1939
- Ellison v. MosesSupreme Court of Alabama · 1891
- Chapter House Circle of the King's Daughters v. Hartford National Bank & Trust Co.Supreme Court of Connecticut · 1936
- King v. SealsSupreme Court of Alabama · 1871
6 more not listed; retrieve them via the Exa API.