Sherrell v. Shepard

Citations

• 19 Fla. 300

Syllabus

<p>1. Upon a sale of personal property of an estate it is the duty of the administrator to take a promissory note or bond with good security for the credit extended. He is not chargeable with the amount immediately when he acts in good faith and with ordinary care. He becomes liable at the expiration of the time of credit, and to discharge himself he must show that the money, if not received, was lost without any default or negligence on his part. The burden of proof is upon him to show, first, that he took good security, and second, that the subsequent loss was not attributable to his laches or neglect.</p> <p>2. The Judge of the County Court is not authorized by the statute to approve securities to obligations for sales of personal property by administrators. Taking good security is a personal duty of the administrator. The simple approval of the surety by the Judge of the County Court is not sufficient. The administrator must prove that the personal security taken was good.</p> <p>3. Such notes when taken are not to be treated as investments. The administrator should be diligent in their collection, and if an investment is then proper it must be of such character as the law sanctions.</p> <p>4. An administrator receives a gold receipt from the decedent. This receipt is executed to the deceased in his lifetime by a person engaged in trade, with whom the gold is deposited for safe-keeping. The depositary after the qualification of the administrator always denies his liability to the estate. The administrator delays suit for over two years, and sues at a time when a recovery of a judgment in due course of law would not have resulted in realizing the money. The depositary died before the institution of the suit, and up to the time of his death was considered solvent. Under these circumstances the administrator is liable for the debt.</p> <p>5. An administrator receives a note from the decedent. The maker thereof is a person engaged in trade. He was reputed solvent, p