Cochrane's Estate
This text of 51 A. 989 (Cochrane's Estate) is published on Counsel Stack Legal Research, covering Supreme Court of Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
The appellee, Mary A. Newcomber, purchased from an executor a mortgage owned by his debtor in his lifetime in the amount of $2,000, and paid to him the full consideration, then toot of record an assignment of it. The executor did not reinvest the money for benefit of appellant as he ought to have done. After-wards the executor became insolvent and it is probable the money was lost. Appellant claims the mortgage as of right belonging to him. The court below denied his claim.
The trouble with success of appellant’s contention is, that the executor under the will of testator had full power to sell and assign the mortgage. The purchaser was not answerable to anyone for the proper appropriation of the money ; when she paid to the executor her duty was at an end. The decree is affirmed on the opinion of the court below.
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Cite This Page — Counsel Stack
51 A. 989, 202 Pa. 415, 1902 Pa. LEXIS 533, Counsel Stack Legal Research, https://law.counselstack.com/opinion/cochranes-estate-pa-1902.