Sherman v. Jerome

Citations

• 120 U.S. 319
• 7 S. Ct. 577
• 30 L. Ed. 680
• 1887 U.S. LEXIS 1978

Syllabus

<p>A clause in a will.gave to 0 tlie interest of $4000 for life, “the said sum” - of $4000 to be equally divided, at C’s death, between M, S, and J, or so many of them as should then be living. The will appointed 1? executor for New York, and G and I) executors for Michigan. G and D, before the death of C, executed a paper and recorded it in Michigan, by which they, as executors, “set apart for the benefit of” C and “to be held” by them “iu trust for the purpose of paying” said interest, and, upon the death of C, “for distribution” among M, S, and J, a bond and mortgage for $4000, on land iu Michigan, given to the testator in his lifetime, which was overdue seventeen mouths when the paper.was executed. None of the legatees assented to this proceeding or ratified it or waived their rights, nor was it authorized by any order of any court. C having died without the full interest on the $4000 having been paid to him, his administrator and M, S,-aud J filed a bill in equity in Michigan against G and.D, as executors, praying for ap accounting and for the payment of the’ legacies. The executors set up as a defence'that the .bond and mortgage were the sole fund for the payment of the legacy, arid that the general ■estate, was not liable - for it; Held, that the paper was revocable at any time, and - did not amount to the decisive and irrevocable act which must exist to have the effect to transmute the property.</p>