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Brantly's annotated Bland's Reports, Chancery Court 1809-1832
Volume 198, Page 389   View pdf image (33K)
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MACKUBIN r. BROWN.—1 BLAND. 389

to put an end to the suit. But for the purpose of enabling the
trustee to collect the money, when it becomes due, it has been
usual, and found convenient to allow him to retain the bonds and
notes in his own possession. They are, however, so held by him
at his own risk.

But the Court has never been informed by the trustee Basil
Brown, what became of the purchase money arising from the sales
made by him. He has brought none of it into Court; nor has he
brought in any one of the bonds taken by him for securing its
payment, except that of Duvall's. the amount of which, it ap-
pears, he himself afterwards received; and yet the whole amount
of all the purchase money became due long before Brown's death.

It must be presumed, therefore, in this, as in all similar cases,
where a trustee or agent undertakes and binds himself to collect
money, or to bring into Court those vouchers, by means whereof
it may appear whether he has collected it or not, and fails to do
so. that the money has actually been collected by him, and he
must be charged with it: unless he can satisfactorily shew, that it
had not come to his hands, or been applied to his use. The
greatest inconvenience and the most serious evils would arise, if
trustees, appointed by this Court, were not held strictly account-
able for the bonds taken, and money received by them. They
undertake to perform duties of much importance, and to become
the executive agents of the Court: and therefore must be rigidly
held to a faithful discharge of the trust reposed in them, in all
that relates to the receipt of money, or the securities taken by
then) for its payment. Bennett v. Hamill, 2 Scho. & Lefr. 566.

As the late Basil Brown might and ought to have collected the
whole amount of the purchase money, it must be presumed that he
did so, and consequently he must be held liable for the whole
amount; unless his representatives shew, that without his delault,
it was not received In him, or that it did not come to the use of
him or his estate. This they have failed to do. His estate,
* therefore, must be charged with the whole amount of the 417
proceeds of the sales made and reported by him.

But although a negligent or unfaithful trustee may be thus held
liable for the whole amount of any money which he undertook and
became bound to collect, and of which he has failed to give any
account whatever; yet the Court, by holding him liable, would
not be understood as thereby, in any case, exonerating any pur-
chaser, surety, or other person, or subject, from any liability oi
lien that might have been enforced for the recovery of the same
money. The party interested may, in the first instance, obtain
satisfaction from such security; or the delinquent trustee may be
first made to pay, and be then left to take the place of the claim-
ant, and, so far as in equity he may be permitted to do so, to seek
relief from others as he can.

 

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Brantly's annotated Bland's Reports, Chancery Court 1809-1832
Volume 198, Page 389   View pdf image (33K)
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