Unless a trustee clearly provides against it, he is personally liable on contracts made by him as trustee,1 even if he refers son, 7 B. Mon. (Ky.) 693; Hines v. Potts, 56 Miss. 346; New v. Nicoll, 73 N. Y. 127; 29 Am. Rep. 111. "The general rule undoubtedly is that a trustee cannot charge the trust estate by his executory contracts unless authorized to do so by the terms of the instrument creating the trust. Upon such contracts he is personally liable and the remedy is against him personally." New v. Nicoll, 73 N. Y. 127, 130; 79 Am. Rep.111.

2 Williams v. Tozer, 185 Pa. St. 302; 64 Am. St. Rep. 650; 39 Atl. 947.

3 Sanders v. Warehouse Co., 107 Ga. 49; 32 S. E. 610.

4 Wagnon v. Pease, 104 Ga. 417; 30 S, E. 895; Riggins v. Adair, 105 Ga. 727; 31 S. E. 743; Bailie v. Loan Association, 100 Ga. 20; 28 S. E. 274; Judge v. Pfaff, 171 Mass. 195; 50 N. E. 524; Packard v. Kingman, 109 Mich. 497; 67 N. W. 551; United States Trust Co. v. Roche, 116 N. Y. 120; 22 N. E. 265.

5 Wadsworth v. Arnold. 24 R. 1. 32; 51 Atl. 1041.

6 Cottingham v. Loan Association,

114 Ga. 940, 944; 41 S. E. 72, 74.

1 Taylor v. Davis, 110 U. S. 330; Hewitt v. Phelps, 105 U. S. 393; Duvall v. Craig, 2 Wheat. (U. S.) 45; Bloom v. Wolfe, 50 Ia. 286; Farmers' and Traders' Bank v. Deposit Co., 108 Ky. 384; 56 S. W. 671; Gill v. Carmine, 55 Md. 339; Odd Fellows Hall Association v. McAllister, 153 Mass. 292; 11 L. R. A. 172; 26 N. E. 862; Mayo v. Moritz, 151 Mass. 481; 24 N. E. 1083; Mitchell v. Whitlock, 121 N. C. 166; 28 S. E. 292; Wells-Stone Mercantile Co. v. Grover, 7 N. D. 460; 41 L. R. A. 252; 75 N. W. 911; Ogden Ry. Co. v. Wright, 31 Or. 150; 49 Pac. 975; Fehlinger v. Wood, 134 Pa. St. 517; 19 Atl. 746; McDowall v. Reed, 28 S. C. 466; 6 S. E. 300; Mclntyre v. Williamson, 72 Vt. 183; 82 Am. St. Rep. 929; 47 Atl. 786. "When a trustee contracts as such, unless he is bound, no one else is bound, for he has no principal. The trust estate cannot promise. The contract is therefore the personal undertaking of the trustee." Taylor v. Davis, 110 U. S. 330, 335; quoted Germania to himself in the contract as trustee2 or adds "trustee" to his signature.2 Thus a trustee is personally liable on his indorsement of negotiable paper payable to himself as trustee.4 Thus if one covenants in his own name, adding "as trustee," he is personally liable.5 An assignee for the benefit of creditors is personally bound on contracts in which he refers to himself as trustee, unless there is an express provision to the contrary.6 Even if the instrument creating the trust gives the trustee power to bind the estate, he is personally liable on such contracts unless he contracts for exemption from personal liability;7 and this principle has been applied even where there is a provision in the instrument creating the trust that the trustee is to be free from personal liability.8 He may contract for freedom from personal liability,9 but such immunity must be contracted for when the original liability is incurred. A subsequent promise not to hold the receiver liable personally is unenforceable as without consideration.10 A trustee is not personally responsible for debts incurred by his predecessor for the benefit of the estate.11

Bank v. Michaud, 62 Minn. 459, 465; 54 Am. St. Rep. 653; 30 L. R. A. 286; 65 N. W. 70.

2 Gibson v. Gray, 17 Tex. Civ. App. 646; 43 S. W. 922.

3 Ogden Ry. Co. v. Wright, 31 Or. 150; 49 Pac. 975; Mclntyre v. Williamson, 72 Vt. 183; 82 Am. St. Rep. 929; 47 Atl. 786. Contra, no personal liability was held to exist where the trustee gave his note for money borrowed for the estate signed "A, trustee for B." Printup v. Trammel, 25 Ga. 240.

4 Tradesmen's National Bank v. Looney, 99 Tenn. 278; 63 Am. St. Rep. 830; 38 L. R. A. 837; 42 S. W. 149 (even if he adds "trustee" to his signature).

5 Duvall v. Craig, 2 Wheat. (U. S.) 45.

6 Gibson v. Gray, 17 Tex. Civ. App. 646; 43 S. W. 922.

7 Connally v. Lyons, 82 Tex. 664; 27 Am. St. Rep. 935; 18 S. W. 799.

8 American, etc., Co. v. Converse, 175 Mass. 449; 56 N. E. 594. But where the deed authorizes trustee to borrow money, a covenant by trustee to pay the mortgage debt does not bind him personally. Glenn v. Allison, 58 Md. 527.

9 New v. Nicoll, 73 N. Y. 127; 79 Am. Rep. 111.

10 New v. Nicoll, 73 N. Y. 127; 79 Am. Rep. 111.

11 Baxter v. McDonnell, 155 N. Y. 83; 40 L. R. A. 670; 49 N. E. 667 (a bishop received trust property from his predecessor).