Page:Federal Reporter, 1st Series, Volume 10.djvu/66

51 FBDEBAIi BBFOBXEB. �he had waived all compensation. Held, aiso, that interest will net be charged from the flling of the bill, but only from confirmation pf master's report, unless the executer was liable for it in the flrst instance. �6. EXECUTOR DE FACTO — EXTBNT DP LlABILITY^-AS AOENT AND AttORNEY. �A person named as executer in the will, who refuses to qualify and renounces the trust, but who becomes the de facto executer and assumes the whoJe management of the estate, will be liable, as exeeutor, for assets actually received by him, but net fer losses incurred by bis negligence for which the lawful executer is liable ; and this, although he received the assets as the agent and attorney of the lawful executer in cases where he haa not delivered them over to him. He is liable also as agent and attorney. �7. Same— An Express Trustee of an Implied Trust— Cannot Hold Adverselt �WITHOUT Notice. �The common statute of limitation of six years is not a defence to a bill in equity seeking an account and satisfaction by a legatee against such person. He is, in that case, an express trustee, the trust being implied from the con- tract of agency, and not against the contract upon the evidence. This distinc- tion explained. Nor can such a trustee denude himself of his trust and hold adveraely, witheut notice to the ceatui que trust. �8. Estates of Deceasbd — Appropriation of Assets — Crbditor Holding Debt �Barred bt Statute, an Express Trustee. �A crediter of the testator, holding a debt barred by the special statute of lim- itations in favor of decedent's estates, cannot receive or appropriate assets te the paymeat of his debt so barred, without becoming liable to the exeeutor and legatee in equity for the money so wrongfully paid to himself, and he mugt refund it, with interest ; nor is he protected by the common statute of limita- tions from the time of the appropriation, being an express trustee, under the circumstances above stated, until the cestui que trust lias been notified. �9. Same — A State Statute Limiting Time for Presentation of Claims a �RuLB of Property as to Trusts, and is Binding on Federal Courts SiTTiNG IN Equitt. �A statute of Tennessee, which provides that unless a crediter shall, within two or three years, as the case may be, present his claim to the executer or bring suit thereon, it shall be forever barred and the executer liable to account for any payment made, is not ouly a statute of limitations, but a rule of prop- erty relating to trusts, which the legislature of the state alone can make, and as such it is binding on the federal courts sitting in equity. �10. Will— Real Estate— Legacy Charge on Land. �If a will exonerates a specifie legaoy by charging the debts upon all the estate, real and Personal, the land is not liable te the specifie legatee unless, ou a deficiency of Personal assets, the specifie legacy has gone to pay debts. �11. Will— HusBAND and Wife—Post -Nuptial Bond— Satisfaction. �A specifie legacy, given te a wife by a will, is a satisfaction of a post-nuptial bond for like amount, unless the intention clearly appear te the contrary. �12. Bill for Account and Satisfaction of Legacy— Pormal Parties— Juris- diction. �Where a citizen of another state, being a specifie legatee, filed a bill against the executer and residuary legatees for an account and satisfaction of her leg- acy, hdd, that the court had no jurisdictien te decree an account and relief in favor of residuary legatees, citizens of the same state with the executer, who had filed no cross-bill, and were only defendants for the purpose of aseertain- ing the rights of the plaintiS. ��� �