Chapter 20 - § 20.31 • CONTRACTS

• Jurisdiction: Colorado

§ 20.31 • CONTRACTS

In the course of the administration of the estate, the representative may have occasion to enter into a number of contracts, perhaps the earliest one being to arrange for the funeral, and the next one may be the employment of a lawyer (see §§ 16.3.7 and 16.3.4). At common law, unless otherwise provided in the contract, the representative bound himself or herself personally on the contract, but if it was a proper one, he or she would be permitted to exoneration from the estate.⁴⁵ Similarly, at common law, if a representative made a contract and later breached it, he or she was entitled to indemnity from the estate for the full loss. Again, the common law rule has been abrogated by C.R.S. § 15-12-808, which provides that the estate will be liable for contracts entered into by the representatives so long as the fiduciary capacity is...