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Brantly's annotated Bland's Reports, Chancery Court 1809-1832
Volume 198, Page 667   View pdf image (33K)
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INDEX.—1 BLAND. 667

TRUSTS AND TRUSTEES.—Continued.

3. The Court may order the proceeds of a sale in the hands of a trus-
tee to be invested by him, so as to be made productive pending the
litigation; and if the trustee fails or refuses to make the invest-
ment accordingly, he may be ordered to bring in the whole amount,
with compound interest, from the date of the order directing the in-
vestment. 76.

3. The Court of Chancery has the power in all cases, where it may be
necessary, to appoint and employ a person as its trustee or agent to
make sale of property for the purpose of executing a decree or
order. Gibson's Case, 128.

4. It may appoint a woman or any competent person on the recommen-
dation of the parties interested: or if they are silent, the plaintiff's
solicitor is usually appointed. Ib.

5. But the Court will not appoint any one of its own officers, or any
other officer to be trustee, the discharge of whose official duties may
be incompatible with a proper attention to his duties as trustee;
nor will the Court employ, as its trustee, an infant, feme covert,
or non-resident. For negligence or improper conduct a trustee may
be removed. 76.

6. In general, the trustee, is to be regulated by the directions of the
order or decree; but in making a sale, he may deviate from the mode
prescribed by the decree, after the property has been put into t"he
market, by advertising it for eale as directed. Ib.

7. Commissions, or poundage fees to trustees, are allowed by law and
regulated by rule of Court. Ib.

8. The commission is given as a compensation for the performance of
all the duties specified in the decree, and the subsequent order in
relation to the sale, and its proceeds. Ib.

9. The trustee may employ an auctioneer. Ib.

10. The allowance of commissions to a trustee may be refused, dimin-
ished, or enlarged, according to the nature and circumstances of the
case. Ib.

11. A trustee, under a decree for the sale of property, who fails to bring
into Court, or to account for the proceeds of sale, or the bonds
and notes taken by him to secure the payment of the purchase
money, may be charged with the whole amount of the proceeds
according to his report of the sales. But. by thus holding the trus-
tee liable, the Court does not thereby virtually exonerate any one
else. Mackubin v. Brown, 383.

12. A trustee cannot be permitted to apply a part of the proceeds of eale
without any authority from the Court, and then to come in to have
it allowed as set-off against the claim of the party to whom it was
paid. Ib.

13. A trustee, who had been appointed to make sale under a decree,
ordered to bring the purchase money with the bonds and notes re-
ceived or taken by him, into Court, and displaced, because of his
0iisconduct. Mullikin v. Mullikin, 505.

See DEBTOR AND CEEDITOR, 1.
DECREE, 10.
EVIDENCE, 7.
LIEN, 10.

 

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Brantly's annotated Bland's Reports, Chancery Court 1809-1832
Volume 198, Page 667   View pdf image (33K)
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