Waddell's Estate

Citations

• 196 Pa. 294
• 46 A. 304
• 1900 Pa. LEXIS 517

Syllabus

<p>Executors and administrators — Surcharge—Error of judgment.</p> <p>An executor will not be surcharged for a loss that occurs through a mere error of judgment.</p> <p>Executors and administrators — Discretion as to sale of real estate.</p> <p>A discretionary power in executors to sell real estate cannot be controlled by a demand of one or more of the legatees for an immediate sale. Nothing less than the request of all the legatees will save the executors from the peril of a nonexercise of their own judgment, and this only because the legatees would be estopped from denying the good faith of the executors.</p> <p>Executors and administrators — Power to sell coal land — Discretion.</p> <p>An experienced owner and operator of coal land began to open a shaft, and at the time he made a codicil to his will, had struck a fault, which he knew would cost a large sum of money to overcome. By .the codicil he directed as follows: “ My executors shall sell and convert all my interest in any of my collieries or coal operations, wherever situated, as soon as the same can conveniently be done with advantage to my estate, and until such sale of said colliery interests my executors shall conduct the same and all the business operations connected therewith for the benefit of my estate, with the same power and effect as if I were living, and managing or conducting the same.” The executors prosecuted the work through the fault at an expense which largely exceeded the receipts. There was no evidence of fraud on the part of the executors. Held, that the executors should not be surcharged with the loss.</p>