John Hessin Clarke

“ Obviously the question as to the liability of the defendant turns upon whether the transfer of the stock to Cobb and Spensley, as trustees for Catherine Monohan, is void or voidable; for if it is voidable only, this suit was improvidently commenced. At common law, and no Wisconsin statute is cited to modify the rule, an executor has full power, without any special provision of the will that he is administering or order of court, to sell or dispose of the personal assets of the estate, and thereby to pass good title to them. ”

“ Pereles, 87 Wis. 449, 23 L.R.A. 824, 58 N. W. 776, refused to make other sections of this same chapter respecting real estate applicable to personal property, saying: 'In this state we have no statute making the statute of uses and trusts, or any part of it, applicable to personal property.' It is significant also that, in the statute dealing with 'Trust Investments,' no such provision is found. Wis. Stat. Supp. ”