invest

To give possession; to put of a fee, estate, or ofiice newly permanelit way so as to produce

1. To clothe with power or authority. See Vest. 2. In common parlance, to put out money on interest. ' Wilson V. Rousseau, 4 How. 674 (1846). 'Jennings v. Pierce, 15 Blatch. 45-46 (1878), cases; Lyman v. Maypole, 19 F. E. 735, 737-44 (1884), cases. ' Planing-Machine Co. v. Keith, 101 U. S. 485 (1879). « Tucker v. Tucker Manuf. Co., 4 Cliff. 400 (1876), Clifford, J.; Parker v. Stiles, 5 Mc Lean, 55 (1849). 'AspinwaU Manuf. Co. u. Gill, 32 F. R. 700 (1887), JBradley, J. ^ L. in-venire, to find. To place money so that it will yield a profit; as commonly undei-stood, to give money for other property, i Includes, but is not restricted to, " loan." ' Does not universally import preservation or a permanent keeping for the purpose of collecting income. " It is not uncommon to have it said that the best investment of money is in paying debts." " Invested. A sum represented by anything but money is invested.* Money loaned is invested in a debt against the borrower, regardless of the evidence.' Investment. Laying out money in such manner that it may produce a revenue, whether the particular method be a loan or the purchase of stocks, securities, or other property. In common parlance, putting out money on interest, either by way of loan or by the purchase of income-producing property. •> An investment of money in the business of another is more than a loan: it is a contribution to the capital.' Neglect by a trustee to invest moneys in his bands is a breach of trust, and ground for removal.^ The rule is everywhere recognized that a trustee, when investing property in his hands, is bound to act honestly and faithfully, and to exercise a sound discretion, such as men of ordinary prudence and intelligence use in their own affairs. In some jurisdictions, no attempt has been made to establish a more definite rule; in others, the discretion has been confined, by the legislature or the courts, within strict limits."