Cases Determined in the St. Louis and the Kansas City Courts of Appeals of the State of Missouri (Volume 96) (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1903. Excerpt: ... Green v. Hussey. as to the second counterclaim without disturbing the findings at the former trial on the other issues. Bland, P. J., and Barclay, J., concur. In re Estate of PATRICK BURKE, Deceased; CHAS. GREEN, Executor, Appellant, v. MARY E. HUSSEY, Respondent. St. Louis Court of Appeals, October 21, 1902. Executor: LIABILITY OF EXECUTOR FOR INTEREST ON MONEY OF ESTATE. If an executor keeps the money of an estate deposited in banks to the credit of accounts in which the money used in the transaction of his ordinary business is kept, and on which he regularly draws checks in the transaction of his business, he makes use of the estate money in such a way that he must pay interest on it to the estate. Appeal from St. Louis City Circuit Court.--Hon. Horatio D. Wood, Judge. Affirmed. M. Kinealy and Kinealy & Kinealy for appelllant. (1) We submit that the doctrine of commingling, apart from proof of actual user, rests on the presumption that a certain mode of keeping the funds implies a user of the funds of a benefit derived from them. In re Schofield, 99 Ill. 513; In re Sudds, 66 N. Y. S. 231; Briggs v. Walker, 19 Ky. L. Rep. 1490; 10 Am. and Eng. Eney. of Law (2 Ed.), 1213, and notes, 1214 and 1215; Scudder v. Ames, 142 Mo. 220; In re Davis, Executor, 60 Mo. 454. And if it appear that in point of fact, the trustee has not derived any benefit from the funds of the trust, the mode of deposit or of keeping the account is of no consequence. This has been decided in many cases. In matter of Schofield, 99 Ill. 513. (2) It was held that so long as the administrator or trustee did not use the funds of the estate, the fact that they Green v. Hussey. were deposited in his own name imposed no liability for interest. The same ruling was also made in the cases cited un...