Citation Numbers： 66 N.C. 321
Judges： Dick
Filed Date： 1/5/1872
Status： Precedential
Modified Date： 11/11/2024
This is a civil action, brought for the settlement of a trust estate. The case was heard upon the complaint, answer and replication of the parties.
The execution of the trust deed is admitted, but the payments made and the liabilities incurred by the trustee are controverted by the oestuis que trust. The merits of the controversy are not before us at this stage of the proceedings, as the only matter appealed from is an order of His Honor directing an account oí the management of the trust fund.
A trustee is bound in the execution of his trust to carry out the purposes contemplated by the grantor, with honesty and fidelity; to keep regular and accurate accounts of all receipts and payments made by him in the discharge of his duty, and if the estate in his hands is not sufficient for such indemnity, he can hold the oestuis que trust personally responsible. Adams Eq. 61.
When the facts connected with the management of the trust are in dispute, the rights of the parties cannot be readily ascertained and determined without an account. This is the usual course adopted by Courts of Equity and if any of the parties are dissatisfied with the report oí the Master, the cause of objection can be presented by proper exceptions and "thus the Court can decide all matters of controversy.
We think this a proper case for an account, and His Honor was right in making the order appealed from. Let this be •certified.
Pee Cdeiám" Judgment affirmed.