41 N.C. 243 | N.C. | 1849
An administrator has the right to sell the notes of his intestate. The purchaser is under no legal obligation to see to the application of the purchase money. But although the exigencies of estates sometimes make it expedient to sell note, it is rarely ever the case, and such dealings are looked upon with suspicion, and when permitted to stand it is not because courts are satisfied that the parties have acted honestly, but because their dishonesty cannot be proven. As *181
an administrator has the right of property, and, of course, the right to sell, the mere fact of selling is no breach of trust, and a purchaser cannot be liable without actual notice that the administrator intended to use the funds for his own purpose. The case of most frequent occurrence is when the purchaser receives the funds in satisfaction of an individual debt of the administrator, so as not merely to have notice, but to be a participator in the guilt. This latter circumstance, however, is not necessary. It is sufficient if the purchaser has actual notice of a dishonest intent and purpose to misapply the funds. Tyrrell v. Morris,
PER CURIAM. Decreed accordingly.
Cited: Wooten v. R. R.,
(248)