Perry v. Smoot

Citations

• 23 Va. 241

Syllabus

<p>S. made his will in 18SS, and died in July 1867. He gave to his daughters S. and 0. each ten thousand dollars, to be realized out of his estate by sale or otherwise, as early as practicable after his decease; and directed his executors to invest the said legacies in the bonds of the State of Virginia, in the names of S. and 0. The residue of his estate he gave to his two sons, who were his partners in business, and who he appointed executors. When S. died his daughter C. was over twenty-one years of age, and capable of understanding her rights. The executors did not invest the $10,000 left to her, but retained it in their hands with her knowledge, and as they aver, by express agreement with her, and paid her the interest regularly upon it. Held : In the condition of the country from 1867 to 1870, the executors were well justified in not investing the money in State bonds.</p>