Tarlov v. Adams

1 Citing case

  1. Reiley v. Healey

    122 Conn. 64 (Conn. 1936)   Cited 41 times

    We may, however, test it by the other facts found and may consult the memorandum of decision to determine the grounds upon which it rested; Burk v. Corrado, 116 Conn. 511, 513, 165 A. 682; and if it appears that the court made the finding upon the basis of facts not proven or of considerations not relevant and material or in the absence of proof of some element in the situation necessarily to be considered, it cannot stand. Farrell v. Waterbury Horse R. Co., 60 Conn. 239, 257, 21 A. 675; Tarlov v. Adams, 97 Conn. 412, 413, 117 A. 3. The rationale of the decision of the trial court as deduced from its memorandum of decision and finding was this: When the general depression came in the fall of 1929 the administratrix was confronted with a situation of rapidly falling values and did what many other investors did at that time, attempted to preserve the securities for the estate; but when, after the lapse of the fourteen months, which the trial court fixed as a reasonable time, she continued her efforts to preserve the securities by advancing further collateral, using her own funds and paying interest upon the loan, she entered into a speculative enterprise at the expense of the estate; that it was one thing to have pledged additional securities in the fall of 1929 to preserve assets of the estate when it was amply able to pay all claims admitted and contingent, and another to exhaust the few remaining securities over a year later for a like purpose; that she had no right to "speculate" with the securities of the es