Garland, ex parte

786 EX PARTE GARLAND 10 VES. JTO. HI. i&AELAND, Ex parts. Aug. nth, 1803; March 11th, Aug. Uth, 1804. l_oee fix parte Richardson, 1818, 3 Madd. 157 ; Williamson v. Naylor, 1838, 3 Y. & C. 215, n., and cases there collected. Owen v. Delamere, 1872, L. E. 15 Eq. 138 ; In re Beale, 1876, 4 Ch. D. 249 ; Ex parte Manchester Bank, 1879, 12 Ch. D. 927; In re Johnson, 1880, 15 Ch. D. 553. Followed, Eraser v. Murdoch, 1881, 6 App, Gas, 855. Considered, Strickland v. Symons, 1883-84, 22 Ch. D. 670; 26 Ch. D. 245. See In re Blundell, 1890, 44 Ch. D. 11.] Under the bankruptcy of an executor and trustee, directed by the Will to carry on a trade, and a limited sum to be paid to him by the trustees for that purpose, the general assets beyond that fund not liable. Henry Ballman by his Will, dated the 17th of February 1798, after directing his debts, &c., to be paid, bequeathed all hia leasehold and personal estates to his wife Margaret Ballman, and three other persons, their respective executors, &c., upon trust to permit Margaret Ballman to receive the rents, interest, &c., for her life, or until she should marry again, for her own use, and the support, maintenance, and education, of his five children, until they should respectively attain the age of 21, subject to certain payments to his children, as after mentioned ; and from and after the death and second marriage of his wife in trust for all [111] and every or such one or more of his said children or their issue, and in such shares, manner, and form, aa she should appoint by any deed or instrument in writing or by her Will; and for want of such appointment, and as to such parts, of which no such appointment should be made, in trust for all his children, their respective executors, &c., equally to be assigned, paid, and transferred, at their respective ages of 21, with survivorship in case of the death of any under that age; and in case of the deaths of all under that age without leaving issue then to pay, &c., his said personal estate to Margaret Ballman, her executors, &c. The testator then directed his trustees to pay to his children respectively, as they should attain twenty-one, £400 a-piece out of his personal estate ; and he farther directed, that his trade of a miller and the farming business, then carried on by him, should be carried on by Margaret Ballman, until his trustees should think proper to establish his sons or either of them therein ; and he directed his trustees upon so settling his sons or either of them in the business to permit them to take off the stock, crop, and other effects in the said business at a fair valuation, and to take a bond or note from them for the amount, payable by such instalments as his trustees should think reasonable, with interest in the mean time at 4 per cent. He also directed, that, as long as the businesses should be carried on by Ids wife, the profits thereof should be applied for her own use and for the maintenance and education of his children ; and that an inventory and valuation of his stock, crop, and effects, in his said businesses, should be taken within six weeks after his decease ; and that any sum or sums, not exceeding £300, which by a codicil he increased to £600, should be paid by his trustees to Margaret Ballman out of his personal estate for the purpose of enabling her to [112] carry on the said businesses ; and that she should give notes of hand to the other trustees for the sums so advanced to her and the amount of the valuation. He appointed his widow and the other trustees his executors. After the death of the testator Margaret Ballman carried on the trades till December 1801 ; when she became a bankrupt. The other trustees had according to the directions of the Will advanced her the sum of £600 ; and the stock and effects were valued at £1351, 5s.; for which she gave two notes to the other trustees. At the time of her bankruptcy she was indebted to the trustees in respect of those two notes, and also in £768, 12s. 4d. of the testator's assets, received by her. The surviving trustee proved under the Commission the three sums of £1351, 5s., £000, and £768, 12s. U. The petition was presented by the assignees under the Commission ; praying, that the proof may be expunged ; and the dividends refunded ; and that it may be declared, that the whole of...