Henry Baldwin

“ A devise of a part of the land to pay debts does not exempt the rest. Whoever takes the land takes it as a trustee. Jones v. Scott, 1 Russell and Mylne, says, that the intention of a testator to make a trust, prevents the statute from running. See 2 Story's Equity, 737, 741. The question in the case is, whether the executor shall be ruined, and the legatees get the land for nothing. The family all concurred in what was done: the heirs and devisees had as much right as we had to go into chancery and have the estate settled up. ”

“ But here the bill says there was a large personal estate. As to a general trust-how can that be, when there is a particular part of the estate devised to pay debts, if necessary? Testator died in 1812, and bill filed in 1836; in the mean time the debt has accumulated, by interest, to $46,000; the executor is a creditor to $26,000, making $72,000. The trust property is estimated at $29,000; the personal estate, which the testator thought might be insufficient, all gone, and the general estate is to make up $43,000. The whole estate will not pay the debt. ”

“ The hardship of this case is not on the side of the defendants; it is one of obstinate ingenuity on their side. Debt has never been paid, and children have had the benefit of the personal estate. No mismanagement of the fund anywhere. The creditors are worse off than the family. The Bank of Columbia broke along ago; if it had exacted its debt immediately, it would have been called a Shylock. The respondents are residuary devisees; the testator first provides for his wife, and then for his debts, and the will is the law of the case. ”

“ The remaining objections to the relief prayed for by the bill, which are founded on the principles of the law or the rules of equity, are covered by the former decisions of this court; those which arise from the evidence in the cause as to matters of fact material to our decision, are no longer open to controversy, and we are clearly of opinion that the complainants have made out their case in point of law and fact.
The decree of the Circuit Court must consequently be reversed. ”

“ Because the sum allowed to George Peter, as surviving executor of David Peter, by the auditor, is for a general balance on the settlement of the executor's account, as is alleged, for that amount overpaid the proceeds of the estate which came to the hands of the executors, to be administered; and the defendants, as heirs and devisees of the real estate of the said David Peter, are not chargeable by the executors, or the survivor of them, with the payment of such balance. ”

“ Beverly, which came before this court in 1836, on an appeal from the Circuit Court of the District of Columbia, in decreeing an injunction on the proceedings of the then complainants, to sell a part of the real estate of David Peter, deceased. ”

“ It is further agreed, that as soon as the purchase-money of said real estate shall become payable and be collected by said John Marbury, he shall invest the same in his own name, as trustee, in Pennsylvania State stock, bearing interest at the rate of 5 per cent., first deducting therefrom the necessary expenses, taxes due on the said property, to the day of sale, and the commissioners provided for in the said deed ”

“ Marbury up to the 20th April, 1838, is $21,711 16, from which deduct, for expenses, taxes, surveying, auctioneer's bills, and the trustee's commission $1,804 76, leaving in the hands of the trustee, $19,906 40, which amount, according to his report, has been vested in the stock of the state of Pennsylvania, bearing interest at 5 per cent. per annum. ”