CLAIM FOR £648.
TRUSTEE'S ACTION FAILS. ir&tss assckiatio* tsi.eo»au-) DUNEDIN, December 21. Mr Justice Kennedy gave judgment to-day in the case of Shiel v. Stables, a claim for £648. Stables was trustee in a bankrupt estate. The Bank of New Zealand, upon plaintiff 's guarantee, had rendered available the sum stated "tj» defendant, which sum plaintiff had been compelled to pay as defendant had failed to do so. His Honour gave judgment against the trustee for the amount stated, with costs. A trustee carrying on a business anu entering into commercial transactions was not in a different position from an executor or trustee who carried on a business, said his Honour. He might have certain rights of indemnity extending both to the assets and as against the person beneficially entitled if sui juris, but towards a creditor sis such he himself was personally liable for the loan. As the receiver and manager appointed by the Court for carrying on an existing business, he was prima facie personally liable upon th.' contracts made of him as such lecencr and and must look for indemnity to assets of the business.
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Bibliographic details
Press, Volume LXVIII, Issue 20736, 22 December 1932, Page 8
Word Count
188CLAIM FOR £648. Press, Volume LXVIII, Issue 20736, 22 December 1932, Page 8
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