45 Ala. 364 | Ala. | 1871
The assignment of error founded on the exception made to the master’s report, is not well taken. The ground for the exception is, “that the register, in said report, has charged defendant, T. B. McCall, with compound interest on the balance found due from W. D. Simonton to complainant’s intestate, on the 22d day of April, 1862, when the defendant, T. B. McCall, should not be charged with but simple interest on such sum.” This exception is not sustained by the record. McCall was the security on the bond of Simonton, the guardian. From the guardian’s partial settlement, on the 22d day of April, 1862, the decree of the probate court against him for the funds of the ward then found to be in the guardian’s hands, was for seven hundred and thirty dollars. The report of the master shows that the interest charged on this sum was “ annual interest ” at eight per cent, per annum, which amounted to four hundred and twenty-one dollars and fourteen cents. This was not above the sum due at simple interest; and such decrees bear simple interest, as here charged. Then, there was no error in refusing to allow this exception. — Rev. Code, § 1829; Kyle v. Mays, use, &c., 22 Ala. 692.
There is no law of this State requiring a guardian to pay compound interest on the moneys of the ward in his hands, unless he collects such interest on the ward’s funds. The statute only makes it obligatory on him to loan out the ward’s moneys and collect the interest annually, and to compound the interest on all debts due the guardian by note or account, contracted since February 24, 1860. Rev. Code, §§ 2426, 2427; Brant v. Abbott, 42 Ala. 499. And though the order for the taking of the account authorized the master to charge either simple or compound interest, yet as simple interest only was charged, the order going beyond this was error without injury, and it is not reversible. — Hawkins, Adm’r v. Dumas, 41 Ala. 391; Shep. Dig. p. 568, § 82.
The more regular practice requires that there shall be a
The judgment of the court below is reversed, and the cause remanded. The appellee, Sanderson, as the administrator of the estate of said B. F. McDonald, deceased, will pay the costs of this appeal in this court and in the court below, out of the assets of the said McDonald in his hands to be administered.