2. Choses, or rights in action of the deceased go to the representative. These include his stocks, bonds, policies of insurance made payable to him or his representative, rents accruing but not collected before his death, dividends and interest falling due on specific legacies before his death, deposits in bank in the name of the deceased, interests in patents and copyrights; and generally, all debts, demands, evidences of indebtedness and obligations due or owing to the deceased at the time of his death, whether absolute or contingent.

3. In order that personal estate shall constitute assets in the hands of the representative, it is essential that the deceased should have been the owner of it at the time of his death, though his possession of it at that time is not essential.

4. Causes of action upon contracts made by the deceased, upon which he might have sued if he had lived, survived his death at the common law and became assets in the hands of the representative, who might sue upon them after the death of the deceased. An exception to this rule exists in the case of contracts, founded upon purely personal consideration, such as an agreement to marry, an agreement to perform personal services, and the like, which did not survive.

If the personal chattels of the deceased have been taken away in his life time, the representative may maintain an action to recover them, or their value.

5. By the common law, actions for the recovery of damages, for torts or injuries to the person or property of the deceased, were said to die with the person in

jured, or with the person committing the tort, and did not survive to the personal representative.

This rule has been changed by statute in most of the states, and actions for assault and battery, slander, libel, false imprisonment, or other wrongs to the person, now usually survive, as well as actions for the recovery of personal property taken, or its value.

6. At the common law, no action could be brought to recover damages for wrongfully causing the death of a person, but this rule has been changed in most of the States by statutes which give a right of action usually to the representative, though the damages recovered are usually declared to be for the benefit of certain persons named in the statutes and are therefore not assets.

7. Actions for wrongs done to the freehold during the life of the deceased did not survive at the common law, but this rule is also changed by statute in many states.

8. As the real estate goes to the heir, covenants running with the land go to the heir also, but when the breach of such a covenant has occurred in the life time of the deceased and its ultimate damage has thus resulted, the personal representative may recover for such breach. He may also sue upon collateral covenants whose breach during the life time of the deceased resulted in an injury to his personal estate.

9. Property conveyed away by the decedent in fraud of his creditors is assets and the personal representative may and should sue to recover such property.

10. Interests in the personal property to which the

decedent's husband or wife is by law entitled, and the personal property which is by law to be set aside for the support of the widow and her minor children, are not assets.

11. Interests of the deceased in a partnership is assets only after the affairs of the partnership have been finally adjusted and settled. As the surviving partner takes the entire legal title for the purpose of winding up the affairs of the firm.

12. Upon the death of one joint tenant, his interest in either real or personal property held in joint tenancy passes to the survivor, and is not assets. But interests held in common are assets.

13. At common law, debts due from the executor to the deceased, were deemed discharged by his appointment. But now in the various states such debts are deemed assets.

14. Property situated in another jurisdiction than that within which the officer is appointed is not assets for which he is accountable, unless by virtue of the power granted to him when appointed he is able to reduce such foreign property to his possession.

15. Debts due by simple contracts are deemed assets, in the jurisdiction where the debtor resides; debts due by specialty are assets where the securities are at the time of the owner's death; debts evidenced by judgments are assets where the judgment is recorded; and debts on leases are assets where the land lies.

16. The income or increase and profits of assets are assets. And property lost by the negligence of the

representative is assets for which he may be held accountable.

Sec. 1041. SAME SUBJECT-THE INVENTORY AND APPRAISERS.-Having taken upon himself the administration of the estate, the officer is required by statute in all the states, to make and file within a time prescribed by law, a complete inventory of the estate, setting forth in detail all the property within his possession or knowledge and capable of recovery by him, which is, or may be, assets of the estate.

Assets coming to his knowledge or possession are subsequently to be added or included in the supplementary inventory. In most of the states, upon the completion of the inventory, the property described is required to be appraised by appraisers, usually three in number and appointed by the court, who are required to set down the true value of each article.

A failure to make or return the inventory as required by law, is a breach of the officer's bond, and the statutes usually provide summary remedies for securing a compliance with the law and for obtaining property concealed or withheld by the officer.

The inventory and appraisal are not conclusive either for or against the officer, but they are prima facie evidence of the amount of assets and of their value.

Sec. 1042. SAME SUBJECT-CONCERNING THE COLLECTION AND POSSESSION OF ASSETS.-It is the right and duty of the officer to collect and take into his possession all the assets belonging to the estate which come to his knowledge.

And his right during the settlement of the estate is superior to that of the heir or legatee.

1. He is bound to exercise good faith and reasonable prudence and diligence in commencing and prosecuting all actions which may be necessary to enable him to acquire possession of the property or to collect the debts due the decedent.

2. He is not bound to attempt the collection of bad debts, and is not liable for their non-collection. But for debts or property lost by his negligence, he is liable. 3. Where the claim is a doubtful one, he may, and should, ask for indemnity or security from those urging its collection, but he must be prepared to show that it was not lost by his negligence.

4. The representative is not liable for a loss resulting from a mistake in law by which a debt remains uncollected, if he has acted in good faith and upon the advice of reputable counsel.

5. He is to use reasonable care and prudence to sue upon and enforce those rights of action which survive to him and constitute part of the assets of the estate. And he must also prosecute and defend all actions commenced in the life time of the deceased which survive, as well as seek to enforce those contracts and obligations which have been made with him since the death of the deceased.

6. In suing upon contracts made, or wrongs committed during the life time of the deceased, the representative sues in his official capacity, but as to contracts made or wrongs done since the death of the deceased,