Flynn's Estate

Citations

• 21 Pa. Super. 126
• 1902 Pa. Super. LEXIS 320

Syllabus

<p>Executors and administrators — Trust and trustees — Investment in trustee's business — Interest.</p> <p>Where executors, who are also trustees, invest practically the whole personal estate in their own business and subject it to the risk of the same for many years, and it appears from their own testimony that they were obliged to pay a higher rate of interest than six per cent for the use of outside funds, they must account to the estate for at least the legal rate of interest, the parties in interest so demanding, although it appears that five per cent was recognized in the community in which they lived as a fair and reasonable rate for long investments.</p>