This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 451.— When there are three executors appointed to manage an estate, could any two of them, without consulting the third, make the estate responsible by attaching their names as makers or endorsers of a promissory note ?
Answer.—If by " managing" an estate you mean that the executors have been given authority under the will to carry on business, the right of two out of three to bind the estate would depend entirely on the terms of the will.
Without special authority in the will the executors could not make the estate directly responsible for such obligations, even where they all act together. There may be cases, however, where the executors would be entitled to indemnity from the estate, thus making it directly responsible.