Kyle v. Barnett

Citations

• 17 Ala. 306

Syllabus

<p>1. Where a guardian invests the funds of his ward in a concern, whose operations are based partly on cash and partly on credit, he is only chargeable with that portion of the profits, if it can be ascertained, which shall accrue on the cash investment.</p> <p>2. A guardian, who employs his son to take charge of a business in which he has invested the funds of his ward, under an agreement entered'into in good faith to allow him for his services one half the net profits after paying legal interest on the investment, the compensation not appearing unreasonable, will not be held responsible for that portion of the profits which maybe received by the son.</p> <p>3. A guardian is chargeable with interest on the profits, derived from funds of his ward invested in a mercantile concern from the time they are received, and, after the dissolution of the concern, on the capital invested, from the time he has received or might with due diligence have re- ■ ceived it.</p> <p>4. Where the guardian has made profits by the employment of the funds of the ward, the latter may elect to take the profits or charge him with interest, but is not entitled to both.</p>