The House of Lords Cases on Appeals and Writs of Error, Claims of Peerage, and Divorces, During the Sessions 1847[-1866] (Volume 3) (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.1853 Excerpt: ... Thk Attorney General Richard Hbnry Cox and Others Christopher Pkarce and John Gko, Nutting The Attorney General Appellant. Respondents. Appellants. Respondent. Mortgage. Covenants. Specialty creditors. Vendor. Application of purchase money. Costs. A mortgagor represented to an intending purchaser that the estate was only liable to a mortgage for 20,000/. to G. and Co., an additional sum of 10,000/. being secured on the mortgagor's personal property. The whole sum had in fact been originally secured on the land, and G. and Co. denied that they had ever done anything to part from their security on the land. After the death of the mortgagor, G. and Co. filed a bill of foreclosure, and obtained from the purchaser the whole 30,000/. Held, that as between the purchaser and the executors of the mortgagor, the representations made by the mortgagor to the intending purchaser, were equivalent to a contract with him, and the personal property of the mortgagor was liable to the extent of the 10,000/. C. and Co. were legal mortgagees and specialty creditors'for a sum of 30,000/. on F.'s estate. Certain official persons acting as trustees for the Crown paid off this debt, and received an assignment of the mortgage, and of a covenant therein contained with liberty to sue upon it, in trust for theTJrown. Held, that the Crown was legal mortgagee and specialty creditor for the 30,000/. originally due to C. and Co. It is not a rule of Equity that, upon the purchase of property, subject to incumbrances, for its full value, the vendor is bound to apply the purchase money in payment of the incumbrances according to their priorities. Such a duty can only be the result of express agreement, or of a con-tract to be implied from the circumstances of the case. Where a lease, contain...