Maloney's Estate

Citations

• 233 Pa. 614
• 82 A. 958
• 1912 Pa. LEXIS 880

Syllabus

<p>Executors and administrators — Partnership between executor and testator — Accounting for profits.</p> <p>Where an executor, who was the partner of his testator, has the deceased partner’s interest in the partnership appraised, but does not immediately sell it, and then continues the business until the expiration of the contract which was the firm’s only business, when he sells the decedent’s interest to his own son, and thereafter enters into a new partnership with his son to carry on a new business under an entirely new contract, and none of the estate’s money is used in the new business, the executor will be charged with a share of the profits to the deceased’s estate up to the formation of the new partnership, but will not be liable for any profits to the estate thereafter.</p>