Knight v. Reese

Decided January 1, 1792

Supreme Court of the United States · decided 1792

CHARLES KNIGHT, father of the plaintiff, put out £200 at interest, to be divided among his four children, at their mother’s death. The defendant was one of the trustees named in the bond, and had received the money on the widow’s decease. The only question was, whether interest should be paid from the time he received it.

Decided 1792

¶1CHARLES KNIGHT, father of the plaintiff, put out £200 at interest, to be divided among his four children, at their mother’s death. The defendant was one of the trustees named in the bond, and had received the money on the widow’s decease. The only question was, whether interest should be paid from the time he received it.

¶2By the Court:

¶3—Interest is not to be a mere trustee, for the money which he holds for the use of another, un*183less he neglects to pay it on demand. As there is no proof of demand in this case, it must be calculated only from the commencement of the action.