New York Indemnity Co. v. Myers

138 So. 334, 161 Miss. 784, 1931 Miss. LEXIS 308
CourtMississippi Supreme Court
DecidedDecember 7, 1931
DocketNo. 29617.
StatusPublished
Cited by3 cases

This text of 138 So. 334 (New York Indemnity Co. v. Myers) is published on Counsel Stack Legal Research, covering Mississippi Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
New York Indemnity Co. v. Myers, 138 So. 334, 161 Miss. 784, 1931 Miss. LEXIS 308 (Mich. 1931).

Opinion

*789 Anderson, J.,

delivered the opinion of the court.

Appellees filed their petition in the chancery court of Marshall county in the matter of the administration of the estate of H. Myers, deceased, they being creditors of said decedent, who had probated and had their claims allowed, against I. C. Myers, executor of the last will and testament of said IT. Myers, and appellant, the New York Indemnity Company, surety on his executor’s bond; and against I. C. Myers as surviving partner of said decedent, and the American Surety Company, surety on his surviving partner’s bond, to recover the amounts of their probated claims. Appellees demurred to the petition, which demurrer was by the court overruled; and appellant, the New York Indemnity Company, was granted an appeal to settle the principles of the case.

Perhaps the case could not be better stated than by setting out appellee’s petition, leaving off the formal parts:

“Your complainants would respectfully show this Honorable Court that they are all creditors of the estate of H. Myers, deceased, and that each and all of the above complainants have duly probated their accounts against the said estate of H. Myers, in due form of law, in the *790 office of the chancery clerk of Marshall county, Mississippi, and that in each and every case the said probated account is attached hereto and made exhibits hereto and made a part hereof, being Exhibits ‘A,’ £B,’ £C,’ ‘D,’ £E,’ £F,’ £Gr,’ £H,’ £I,’ £J,’ and £K,’ £L,J respectively in the order that the complainants are listed in the caption hereof.
££Your complainants would respectively further show that the said claim of Mrs. A. R. King, Inc., was duly probated and allowed and registered in the sum of one hundred ten dollars and fifty-five cents; that the claim of the Riesenberger-Wolf & Peck Company was duly probated, allowed and registered in the sum of sixty-five dollars and sixty-five cents; and that of the Malone & Hyde, Inc., in the sum of sixty-three dollars and fifty cents; and that of Field Bros. & .Gross Company in the sum of seven dollars and fifty cents; and that of Oscar Schmied in the sum of eighty-eight dollars and fifty-three cents; and that of Walter Boothe Shoe Company in the sum of one hundred forty-three dollars and sixty-one cents; and two accounts of the Phillips-Jones Corp. in the amounts of one hundred seventy-seven dollars and of three hundred ten dollars respectively; and of Cyrus W. Scott Mfg. Company in the amount of seventy-seven dollars and fifteen cents; and of the' Standard Overall Company in the amount of sixty-seven dollars and forty-seven cents; and of the Haggerstown Shoe & Legging Company in the amount of one hundred ninety-one dollars and ninety-five cents; and of Wagman, Penner & Levine in the amount of twenty-four dollars and fifty-three cents; and that on none of these accounts has an amount exceeding one-fourth thereof been paid, and on one or more, nothing has been paid.
££Your complainants would further respectfully show unto the court that H. Myers died on the--- day of August, 1927, in Marshall county, Mississippi, where he •had his fixed place of residence, and that defendant I. C. *791 Myers was duly appointed, qualified and commissioned as executor of Ms estate on August 29, 1927, in Cause No. 5411 on the general docket of the Chancery Court of Marshall county, and in said cause the last will and testament of said decedent was duly admitted to probate. The said executor qualified by filing the bond of the New York Indemnity Company as surety, which was duly approved on the 9th day of June, 192-8, the order directing the executor to do so appearing on Minute Book ‘13’ at page 508 in the records of this court; conlplainants would further respectfully show that the said I. C. Myers had before filing said bond as executor filed a bond as surviving partner, which said bond was executed by the American Surety Company of New York in the sum of twenty-five thousand dollars, on the 22nd day of September, 1927, and approved on the same date, and is on file in said cause No. 5411, styled H. Myers, Testator, v. I. C. Myers, Executor; and that said surviving partner’s bond was later ordered reduced to nine thousand dollars, which said order was signed on March 12th, 1928, by the Chancellor and recorded in said records in Minute Book ‘13’ at page 536, and a copy of each of said bonds is filed herewith, marked Exhibits ‘M’ and ‘N’ respectively.
“Complainants would further respectfully show that at the death of the said H. Myers, and on the date of the filing of the bonds referred to above as being executed by the New York Indemnity Company and the American Surety Company of New York, the said estate was solvent and there was sufficient personal property in the shape of the stock of goods, wares and merchandise on hand, and entrusted to the said I. C. Myers, executor, by virtue of said bonds and his office as executor, and surviving partner, on which said stock of goods, wares and merchandise there was created by the death of said H. Myers, a lien in favor of the above named complainants; *792 and in order to carry on the business of the said store, under the orders of this honorable court, the said I. C. Myers, executor, upon the execution of the said fifteen thousand dollar bond by the New York Indemnity Company, and twenty-five thousand dollar bond of the American Surety Company of New Yiork, proceeded to dissipate the assets of said estate, and commingle the assets of said estate with that of the new firm in which he and the other heirs of H. Myers were interested; and though a long time has elapsed since the death of H. Myers your complainants are advised, and believe the facts to be, that the said executor has actually dissipated all the assets of the said estate without paying the claims duly probated and allowed by this honorable court of the above named complainants and made a lien against the assets of. said estate by said probation, and in violation (of) his duty and in breach of the condition of the said bonds, and that the said New York Indemnity Company and the American Surety Company of New York, by reason of their contract in said bond set forth indemnifying the creditors of said H. Myers against any loss on account of the handling of the said estate by the said executor, I. C. Myers, and as surviving partner, are now liable to the said complainants for their several claims.
“Your complainants would further respectfully show that the general creditors of the estate of H. Myers, each of the complainants, and there are several claims against the executor and surviving partner and his bondsmen, enter into his suit against the said executor and surviving partner and the said bondsmen; and in order to avoid a multiplicity of suits this suit is brought as one suit — the liability of the said executor and surviving partner and the said bondsmen, the New York Indemnity Company, and the American Surety Company of New York, being a joint liability to all of the creditors.
“Premises considered, it is the prayer of complainants that the defendants above named, I. C. Myers, executor *793 and surviving partner of H.

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Bluebook (online)
138 So. 334, 161 Miss. 784, 1931 Miss. LEXIS 308, Counsel Stack Legal Research, https://law.counselstack.com/opinion/new-york-indemnity-co-v-myers-miss-1931.