The Law Relating to Executors and Administrators in the Province of Ontario (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1902 Excerpt: ...fully discharged. The dis charge may take place in various ways, not only by direct payment, but also by dealings with the continuing partners operating as a payment of the joint debt, or from the creditors having agreed to take and taking the security of the surviving partners in discharge of the joint debt. Further, if the dealing of the creditor with the surviving partners has been such as to make it equitable that he should go against the assets of the deceased partner, he will not, upon general rules and principles, be entitled t the benefit of 1he demand. Winter v. Innes, 4 Miln. & Cr. 101. 641. The liability of executors and shareholders in Ioi"t.. stock com jomt stock companies as, fixed by the Dominion andpanies. Ontario Joint Stock Companies Acts respectively, and in respect of bank shares, has already been stated. The liability of executors in respect of bank shares Bank has already been stated (paragraph 345). 8 are8' 642. Tn every case where the testator is bound by a Covenant covenant the executor shall be bound by it, if it be not of tt Stat"r determined by the death of the testator; that is, unless it is such a covenant as was to be performed by the person of the testator. Bally v. Wells, 3 Wils. 27. 643. The executor is not only liable upon all cove-Breaches mints by the testator, which have been broken in his life-antbyexe time, but, moreover he is answerable for all breaches i;i 01 his own time, as far as he has assets, for the privity of contract of the testator is not determined by his death. Coghill v. Frcelove, 3 Mod, 320. 644. Again, although a covenant in a lease should Covenants m leases. be of a nature such as to run with the land so as to make the assignee of the term liable for a breach of it after the assignment. ...