Hanbest's Estate
Hanbest's Estate
Opinion of the Court
Opinion by
It was'coneeded in the court below, and upon the argument here that the appellee was entitled to the commissions which are the subject of this controversy, if he performed his duties with fidelity. The appellants contend that the action of the trustee with respect to a certain ground rent involved a breach of duty which should result in a forfeiture of his right to commissions. That a fiduciary is not liable for loss arising from an honest error of judgment is upon all hands admitted to be the law. The evidence disclosed that among the investments of the estate was a ground rent redeemable at the pleasure of the lessee; the latter notified the trustee that the principal of the ground rent would be paid in cash unless the amount of the rent was reduced from six to five per cent, during the existence of the trust; the accountant agreed to the reduction of the rent, which was subsequently paid at the reduced rate, until the ground rent estate was subsequently allotted at its full face value, to the residuary legatees, who thereupon claimed and have since been paid the ground rent at the full rate originally reserved. There seems to be no. question, under the evidence, that the rent at the reduced rate produced a revenue equal to
Case-law data current through December 31, 2025. Source: CourtListener bulk data.