Dennis v. Stimson, as Executor

Summary

The New York Court of Appeals reversed the General Term and affirmed the surrogate's decree, holding that the mortgage bequest must be held during the widow's life with its income applied to her $500 annuity and that the $100 check given to Stimson was a loan, making him liable with interest. The court based its decision on a construction of the testator's intent and the presumption against a loan that was rebutted by the surrounding circumstances.