United States Fidelity & Guaranty Co. v. Jackson

Citations

• 111 Miss. 752
• 72 So. 150

Syllabus

<p>1. Guardian and Ward. Power of chancery court. Wards’ suit to recover funds. Breach of bond. Failure of custodian of funds. Accounting. Recovery against guardian and surety. Conditions precedent.</p> <p>The power of the chancery court, or of the chancellor in vacation, to exact an accounting of the' guardian, or to remove a guardian for cause, is unquestioned.</p> <p>2. Guardian and Ward. Ward’s suit to recover funds.</p> <p>Minors by next friend, cannot maintain suits against their guardian without some default or breach of the bond.</p> <p>3. Same.</p> <p>The mere failure of a bank in which a guardian deposited funds of his wards did not operate ipso facto as a breach of the guardian’s bond.</p> <p>4. Guardian and Ward. Liability for wards’ funds. Accounting.</p> <p>Even if a guardian be liable for loss of her wards’ funds through the failure of a bank in which she deposited them, yet she should be accorded an opportunity to make good the loss and to render an account of her stewardship on a final accounting of her trust and guardianship before being subject to the wards’ suit.</p> <p>5. Recovery Against Guardian and Surety. Condition precedent.</p> <p>A minor by next friend cannot maintain a suit against his guardian and her surety to recover funds lost by the failure of a bank in which the guardian had deposited his funds, until the termination of the guardianship.</p> <p>6. Wards’ Suit Against Surety. Premature character.</p> <p>Where funds of minors were deposited in a bank by their guardian and the bank failed and went into the hands of a receiver, a suit by the wards against their guardian and her sureties was prematurely brought, where the receiver was still paying dividends and there was a possibility that the bank might pay its creditors in full.</p>