McGarvey v. McNally

McGarvey v. McNally

The Quebec statute 3 Edw. VII c.136 did not have the effect of indefinitely extending the time limited by the testator's will for investing the $50,000; executors were obliged to invest the sum (or so much as appellant was entitled to) with first-class security within a fixed short period and to pay appellant outstanding interest; accordingly the appeal was allowed and the executors were ordered to pay $1,275 with interest and to invest the sum within six months.

Citation
(1908) 40 SCR 489
Parties
Plaintiff/appellant: Margaret McGarvey; Defendant/respondent: William McNally, ès qualité; Defendant: James (Joseph) Cooper
Court
Supreme Court of Canada
Jurisdiction
Canada
Judgment Date
30 June 1908
Procedural Posture
Estate/wills Appeal / Appeal to Supreme Court of Canada From Superior Court Sitting in Review (montreal)
Outcome
Appeal allowed; judgments below reversed in part; appellant's demand maintained
Legal Topics
Powers of Executors, Winding Up Estate, Time Limit for Administration, Legacy Payment, Special/private Legislation, Investment Obligations of Executors, Remedies for Failure to Invest
Source Language
English
Estates Wills Trusts Statutory Interpretation Powers of Executors Winding Up Estate Time Limit for Administration Legacy Payment +3 more

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Parties

Margaret McGarvey

Plaintiff/appellant

William McNally, ès qualité

Defendant/respondent

James (Joseph) Cooper

Defendant

Procedural Posture

Estate/wills Appeal / Appeal to Supreme Court of Canada From Superior Court Sitting in Review (montreal)

Legal Issues

  1. 1 Whether Quebec statute 3 Edw. VII c.136 had the effect of indefinitely extending the time limited by the will for investing $50,000 for the appellant
  2. 2 Whether executors were obligated to set aside or invest $50,000 with first-class security and to wind up the estate within the time prescribed by the will
  3. 3 Whether appellant was entitled to interest/compensation for failure to invest as directed

Ratio Decidendi

The Quebec statute 3 Edw. VII c.136 did not have the effect of indefinitely extending the time limited by the testator's will for investing the $50,000; executors were obliged to invest the sum (or so much as appellant was entitled to) with first-class security within a fixed short period and to pay appellant outstanding interest; accordingly the appeal was allowed and the executors were ordered to pay $1,275 with interest and to invest the sum within six months.

Court Disposition

Appeal allowed; judgments below reversed in part; appellant's demand maintained

Orders

  • Defendants ès qualité condemned to pay appellant the sum of 1275 with interest from 10 September 1904
  • Defendants ès qualité ordered to invest within six months from date of judgment the sum of 50000, or so much as appellant is entitled to from the estate, in first-class security for appellant's benefit