The status of fiduciaries has to be considered from two standpoints, from that of the relations between the fiduciary and the beneficiary and from that of the relations between the fiduciary and third persons. This dual nature of the fiduciary status is thus discussed by Minor:6

"It must be carefully observed that every fiduciary occupies two relations; one towards the beneficial owner of the trust estate, and quite a different one toward third persons interested in the administration of the trust fund - for example, creditors.

"Thus an executor, administrator, guardian, or trustee is appointed not only for the benefit of his legatee, distributee, ward or cestui que trust, but also in order to manage and control the property committed to him, to collect and pay debts, to prosecute and defend suits, to sell and invest property, etc. Third persons, as well as the beneficiaries, may be interested in the trust. And these citizens of other states than that wherein the fiduciary and beneficiaries reside."

6 Minor on Conflict of Laws, Sec. 102.

"Upon these principles it is now universally admitted that, in the absence of statute, in any case in which third persons are interested, the status of the foreign fiduciary is only local and temporary. He must in general be reappointed and must qualify in every State wherein he desires to administer the property or rights of action committed to his charge. Third persons are entitled to and may demand all the security and protection afforded by the laws of the State where the property is situated. The general rule in these cases is that the law of the forum and situs of the property will regulate the appointment, qualification, rights, title, and liabilities of the fiduciary so far as concerns the relations between them and third persons."7

"But so far as the relations between the fiduciary and the beneficiaries of the trust are concerned (third persons not being interested), even when the question arises in third States, the law of the domicile of the owner or beneficiary (the legal situs of the owner's person and personal property) will control, both in respect to personal rights,8 and rights relating to the personal property." 9 10

7 Vaughn vs. Northrup, 15 Pet., 1;

Mackey vs. Coxe, 18 How., 100, 104. 8 Townsend vs. Kendall, 4 Minn., 412; 77 Am. Dec, 534.

9 Lamar vs. Micou, 112 U. S., 452.

10 Minor on Conflict of Laws, Sec.

102.

Executors and administrators appointed by the courts of one State have ordinarily no power to sue in the courts of another State, without being specially appointed in such State.