Estate of Dundas

Citations

• 136 Pa. 318
• 20 A. 638
• 1890 Pa. LEXIS 1032

Syllabus

<p>1. A residuary legatee, the wife of one of the executors of the testator, in the absence of fraud, may purchase, through the medium .of her husband, acting as her agent, the share of another residuary legatee; and, in such circumstances, the rule which prohibits a trustee from buying at- his own sale has no application.</p> <p>2. When a residuary legatee sold and conveyed his interest to the wife of one of the executors, at a price ascertained by an estimate made for the purpose by the executors, the fact that, through errors in and omission of data from such estimate, the price was fixed at much less than the share was really worth, will not necessarily invalidate the sale.</p> <p>3. If such en'ors and omissions were unintentional and honest mistakes, naturallj’’ arising from the peculiar state of the assets, and the sale was not tainted by any fraud, it will not be set aside, although the purchaser was represented in the transaction by her husband, and the seller relied entirely upon the statements of the executors.</p> <p>4. At all events, even if such sale were voidable at the election of the seller, he must act with reasonable promptness in moving to have it set aside; and a delay in so moving for two years after the purchaser, learning of his dissatisfaction, offered to re-convey upon re-payment of the price, with interest, is such laches as works an estoppel.</p>