Commentaries On the Law of Trusts And Trustees, As Administered in England And in the United States of America

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Y.
Supl. 114; affirmed 136 N. Y. 639.
A double responsibility rests upon a trustee in dealing with one whom he knows to be also a trustee, as any dealings between them in wrong of the latter's trust affects both with an equitable responsi- bility. Heath v. Webster, 40 Mich.
457. One trustee is not exempted from liability by the fact that the duties of the trustees have been ex- clusively performed by his co- trustee with his concurrence and consent. He is accountable for the management of the c
...o-trustee, to whom he has thought proper to delegate his power, to the same extent as if they had been executed by himself. Macubbin v. Crom- well, 7 Gill & J. 157. The trustee who receives any of the proceeds of a transaction must personally see to their application. He may not turn them over to his co-trus- tee for investment or distribution and in that way escape responsi- bility. Fox V. Tay, 89 Cal. 339; s. c, 23 Am. St. Eep. 474. Where trustees divide the amount of the trust fund between them they are both responsible for the whole amount, and not each for the amount received by him only.

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