2 Rawle 305 | Pa. | 1830
The opinion of the court was delivered by
— Several questions have arisen in this case. One,
It has been contended, that by this will, the executors were to put out the interest every year, so as to raise compound interest; they have not done so, and for this they are said to be personally liable. No executor or guardian has yet been charged with compound interest in this court. In Say’s Executors v. Barns, 4 Serg. & Rawle, 112, Dr. Say was charged with the interest he received, and interest on it up to the time of paying it over, but not compound interest. No man can, during his life, get compound interest from his debtor; and I am not sure, that any man in this country can subject those who come after him to it. The law makes executors or guardians liable, generally, for interest on money which comes to their hands, and which they ought to put out, or to pay over. I have not yet met a case where more has been given.
This testator charged annuities on his real estate, and subject to these he gave it all to his wife during her life. As long as she lived, which was till 1821, the executors could not touch it. He also gave to his wife, specifically, all his household furniture. The remaining personal estate amounted to eight thousand two hundred and seventy-five dollars. In the life time of the testator, he had
As to the' two hundred and seventy-five dollars, produced by the other personal estate, there was nothing amiss in keeping this for contingencies, so long as Isaac Harvey kept it.
Norton, the executor, deceased, had the whole fund till March, 1821, when his account was- settled, and the balance paid over to Williams. The amount of Harvey's bond had been paid to him in 1820, and re-invested, together with the interest which had accumulated, and the two hundred and seventy-five dollars and eighty-four cents in other bonds and mortgages. Norton being dead, his account is only incidentally before us. We may say, however, that as his account was not excepted to, it appears final. Williams also settled his account, and paid over the money in his hands, and assigned the bonds and mortgages, which have been accepted. There is no ground for any charge against any of the executors, personally. As to the eight thousand dollars, and its interest, we leave the accounts as they are. So, also, as to the two hundred and seventy-five dollars and eighty-four cents of personal estate. But although the executors are not chargeable with interest on this last sum, the devisee is entitled to it out of the estate. There is something relative to a part of the proceeds of the real, estate being given by the widow, or Harvey, to Norton, about September, 1817, to make up the deficiency in the nine thousand dollars, which I do not understand. Whatever was so paid, then, to Norton, and left with him, is to be taken as part of the real estate then applied towards making up the amount of the legacy. These last two sums do not, together with the eight thousand dollars, make the legacy. The deficiency must come from the real estate with simple interest; and, also, as much as will pay interest on the two hundred and seventy-five dollars and eighty-four cents, and on the sum paid by the widow to Norton, up to the time when these sums were paid to him. The verdict and ■judgment will be ascertained by calculating on these principles;'and "for the Sum thus ascertained, there will be judgment against the executors, not personally, but to be levied from the estate of the testator.