Study each of the following cases carefully. Briefly state the principle of law and your decision.
Executor Misconduct Corbin was named as executor in his father’s will. While going through his late father’s papers, he discovered a promissory note made by Fulsom in the amount of $10,000 that reflected a personal loan the decedent had made before he died. Corbin approached Fulsom and indicated that he would accept $5,000 cash in exchange for the note. Obviously Fulsom’s payment would not be included in the assets of the estate. One of the heirs discovered the cash payment and brought suit, charging misconduct. Will Corbin be required to cover the loss suffered by the estate?
Principle of Law:
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Decision:
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