In re the Estate of Branco

Citations

• 27 Haw. 655
• 1923 Haw. LEXIS 13

Syllabus

<p>Executors and Administrators — debts due from, executor — liability of surety.</p> <p>Where pursuant to his nomination in a will a debtor of the testator is appointed, executor of his decedent’s, will, the liability of the surety on the executor’s bond is the same whether the debt be treated as realized assets in the hands of the executor in accordance with the common law rule or treated the same as debts due from other sources:</p> <p>Same — collection of assets.</p> <p>An executor is bound to exercise that diligence in tbe collection of debts due tbe estate of bis decedent as an ordinarily prudent man would exercise in bis own business affairs.</p> <p>Same — collection of debts due from executor.</p> <p>Where pursuant to bis nomination in a will, a debtor of tbe testator is appointed executor it is bis duty to pay bis debt to tbe estate to tbe extent of his ability to pay when the same is or becomes due.</p> <p>Same — same—failure to collect — liability of surety.</p> <p>Where pursuant to bis nomination in a will a debtor of the testator is appointed executor of the will of his decedent, tbe surety is liable upon tbe executor’s bond to tbe extent of bis principal’s ability and failure to pay such indebtedness. Where, however, part of tbe executor’s debt to the decedent is not due, and prior to its maturity a receiver is appointed of tbe executor’s property, tbe surety is not liable for the failure of bis prncipal to pay such debt prior to maturity.</p>