John McLean

“ In Virginia, the moneys arising from the sale of personal property are called legal assets, in the hands of an executor or administrator; and those which arise from the sale of real property are denominated equitable assets. By the law, the executor or administrator is required out of the legal assets, to pay the creditors of the estate, according to the dignity of their demands; but the equitable assets are applied equally to all the creditors, in proportion to their claims.
The payment was made under the decree of 1820 ”

“ The law has fixed no rule applicable to the case. By the decree both funds are placed on an equality. Payment is directed to be made from both.
Although Patton give no security as commissioner, yet the question, in principle, is the same. A loss must be sustained and by whom shall it be borne?
The sureties on the administration bond, as has been shown, cannot claim an exemption from responsibility under the payment made in pursuance of the decree; nor can the creditors escape a portion of the loss. ”

“ This cause came on to be heard on the transcript of the record from the circuit court of the United States for the eastern district of Virginia, and on the questions and points on which the judges of the said circuit court were opposed in opinion, and which were certified to this court for its opinion, in pursuance of the act of congress for that purpose made and provided ”