Estate of Small

Citations

• 144 Pa. 293
• 22 A. 809
• 1891 Pa. LEXIS 612

Syllabus

<p>(a) A guardian loaned money of his ward to a manufacturing company of which the guardian was a member. On coming of age, the ward excepted to the guardian’s account, embracing the entire principal with lawful interest thereon, and claimed a proportionate share of the profits made by the company, instead of the interest accounted for:</p> <p>1. The guardian having made the loan in good faith to a company admittedly solvent and prosperous, solely with the intent to obtain a good rate of interest for the benefit of the ward’s estate, the ward was not entitled to claim the share of the profits of the company, without submitting to a like share of the losses incurred.</p> <p>2. It seems, that, in this instance, where the guardian was charged with the share of the profits earned by his ward’s money each year, in lieu of interest, it was not error to allow him a credit thereon of one third of such profits, when there were such, as a compensation for his services in managing the business for his ward’s estate.</p>