Davis v. Weed

7 F. Cas. 186, 44 Conn. 569
Supreme Court of Connecticut·Decided November 15, 1877·Published·Cited by 24 cases

Opinion

Shipman, J.

This is an action at law brought by the receiver of the Ocean National Bank of the city of New York, to recover an assessment which is claimed, under the facts hereinafter stated, to be due from the defendant as administrator de bonis non of the estate of Nathaniel Weed. The parties agreed by stipulation in writing, waiving a jury, that the case should be tried by the court. The pleadings subsequently terminated in a demurrer to the special plea of the defendant.

The declaration alleges the organization of the Ocean National Bank of the city of New York, as a national banking association; its failure on December 12th, 1871, to pay [571] and redeem its circulating notes; the protest of said notes; the appointment of the plaintiff as receiver by the Comptroller of the currency; the plaintiff’s acceptance of said office; the ascertainment by the comptroller that the assets of the bank are insufficient to pay its liabilities, and that it is necessary to enforce the individual liability of the stockholders; the order of the comptroller, dated January 19tli, 1877, making an assessment of forty per cent, of the par value of the shares ■held by each shareholder, payable in two installments, to wit: $10 per share on February 26th, 1877, and $10 per share on April 26th, 1877, and the order of the comptroller to institute suits for the enforcement of said liability.

The declaration further alleges, as follows: About the time of the failure of said bank Nathaniel Weed died intestate, leaving a large real and personal estate; at the time of said failure he was the owner of 514 shares of said bank; on or about September 9th, 1872, Harvey A. Weed was duly appointed administrator of said estate; subsequently Harvey A. Weed died, and on or about December Bd, 1872, the defendant, Harvey H. Weed, was duly appointed administrator de bonis non upon the estate of Nathaniel Weed, who accepted said trust, and is now said administrator; demand was made on March 22d, 1877, and on June 12th, 1877, for payment of said respective installments, and by reason of the premises the defendant is liable to pay said assessment.

The defendant pleaded specially the following facts: “ The said Nathaniel Weed died in January, A. D. 1871, intestate; afterwards, on the 9th day of September, A. D. 1872, one Harvey A. Weed was duly appointed and qualified as administrator of his, said Nathaniel’s estate; six months from the date of said appointment was by the court of probate for the district of Stamford, which was the domicile of said intestate, limited as the time for creditors to present their claims against said estate; no claim in behalf of this plaintiff was presented by said administrator; all claims theretofore presented against said estate were paid and settled, and said estate was settled and according to law; afterwards, said Harvey A. Weed died, on the 3d day of December, A. D. 1872, the defendant was [572] appointed administrator of the estate of said Nathaniel, which had not been already administered; the defendant hath fully administered all and singular the goods, chattels, and estate, which were of the said-Nathaniel Weed, deceased, at the time of his death, and which have ever come to the hands of the said defendant, administrator, etc., to be administered, and the said defendant hath not, nor on the day of the plaintiff’s writ in this behalf, or at the time of commencing this suit, or at any time since, had any goods, chattels or estate which were of said Nathaniel Weed at the time of his death in the hands of said administrator, etc., to be administered; and the defendant has not now, and did not on the day of the demand set up in plaintiff’s writ, nor at the commencement of this suit, nor at any time since either of said dates, have in his hands any estate or funds belonging to the estate of said Nathaniel Weed, or which were said Nathaniel Weed’s at the time of his death. Said Nathaniel Weed’s estate, after the death of said Harvey A. Weed, was treated as the estate of said Harvey A. Weed, and distributed among his heirs at law.”

In this state of pleadings the defense is two-fold.

1st. It being admitted that the estate of Nathaniel Weed had been settled according to law, prior to the demand, and that there were no assets in the hands of the administrator at the time of the demand, and that he has fully administered the estate, and that no assets have come to his hands as administrator since the demand, no judgment can be rendered against him.

2d. That, inasmuch as the insolvency of the bank occurred after the death of the intestate, when the title of the stock became vested in the administrator, no debt or liability existed at any time against the estate ; that the liability, if any, was against the administrator, who by section 5,152 of the Revised Statutes is freed from personal liability, and is only liable to the extent of the trust estate and funds in his hands at the time of the demand.

The plaintiff does not claim that a judgment de honis propriis can be rendered against the defendant.

[573] I. The first question requires an examination of the , statutes of Connecticut in regard to the settlement of estates, and in regard to the presentation, allowance and payment of claims against the estates of solvent deceased persons.

The settlement of estates in Connecticut is regulated by statute. A time is limited by the court of probate for the exhibition of claims against the estate of a deceased person which is represented by the executor or administrator to be insolvent, and every creditor who has not exhibited his claim within the time limited is debarred, unless he can show some estate not in the inventory. In the case of an estate which is actually insolvent, the proceedings under the orders of the court of probate, by which all the estate has been actually paid to the claimants who have proved their claims within the limited time, are a bar to claims which subsequently accrue and have not been proved.

But it is provided that where an estate which has been represented insolvent turns out to be solvent, “the rights of all persons having claims against such estate subsequently accruing, and which shall not have been exhibited to the commissioners within the time limited for the exhibition of claims, shall be the same in respect to any estate of such deceased person remaining after the payment of the claims allowed by them, as they would have been in regard to such remaining estate if said estate had always been treated as a solvent estate.”

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Davis v. Weed, 7 F. Cas. 186, 44 Conn. 569 (Colo. 1877).

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