Hughes v. People ex rel. Kerrick

Citations

• 111 Ill. 457

Syllabus

<p>1. Guardian and ward — security for money loaned — approval by the county court — liability of guardian without such approval. The statute requiring a guardian to keep his ward’s money at interest, upon good security, to be approved by the county court, is mandatory, and a loan upon real estate security without such approval is made at the peril of the guardian, and if loss occurs, the guardian can not exonerate himself by showing he acted in good faith, or that the security was good when taken, but afterwards became insufficient from a general shrinkage of values. This statutory provision is intended as a further protection to the estates of wards.</p> <p>2. Same — liability of guardian for compound interest in case of loss. Where a guardian, in violation of the statute, loans his ward’s money upon real estate security without the direction or sanction of the county court, it will be regarded as a willful violation of duty, and he will be charged with compound interest upon any loss to the ward’s estate growing out of the insufficiency of the security.</p> <p>3. Compound interest — when trustee chargeable therewith. When a trustee willfully violates his duty in respect to the trust estate, resulting in loss, he may properly be charged with compound interest.</p>