Grey v Ellison
| Jurisdiction | England & Wales |
| Judgment Date | 24 April 1856 |
| Date | 24 April 1856 |
| Court | High Court of Chancery |
English Reports Citation: 65 E.R. 990
HIGH COURT OF CHANCERY
S. C. 25 L. J. Ch. 666, 2 Jur. (N. S.) 511; 4 W. R. 497.
[438] grey v. ellison. April 9, 10, 17, 24, 1856. [S. C. 25 L. J. Ch. 666; 2 Jur. (N. S.) 511; 4 W. B. 497.] An insurance company purchased an annuity, and took as a security an assignment of the whole equitable interest of the grantor in a trust fund, which produced much more than enough to pay the annuity; with a proviso that, in case the company should insure any sum not exceeding the price of the annuity, and should pay an additional rate of insurance by reason, of the grantor going beyond sea, all sums so paid for additional premiums should be retained out of the life interest; and the surplus be held on trust for the grantee. No policy of assurance was in fact effected, except that the company became their own insurers by making a policy in a separate branch of their own company. Held, that, though the grantor did in fact go beyond sea for several years, the company were not entitled to charge the premiums for extra risk which had in fact been incurred, no additional premiums having been in fact paid. , This bill was filed by the six infant children of Sir Charles "Edward and Lady Elizabeth Grey, deceased, in order to obtain payment of the dividends, &c., of certain funds settled on the marriage of their parents. By a post-nuptial settlement, dated the 18th of May 1821, in pursuance of an order of the Court of Chancery, Sir C. E. Grey assigned to trustees (of whom Ellison was the survivor) the share of Lady E. Grey, under the will of her uncle, T. C. Jervoise, on trust to invest the same in stock, on trust to pay the dividends of two shares to Lady E. Grey for her separate use, and one-third to Sir C. E. Grey and his assigns, and on trust for the survivor; remainder among the children of the marriage, &C., &C. . : By an indenture, dated the 14th of November 1837, in consideration of 6832,16s. advanced by the trustees of the-Globe Insurance Company to Sir C. E. Grey, he, Sir C. E. Grey, covenanted to pay them 800 during his-Mfe, and further assigned the dividends on his one-third share in 85^064, 5s; 6d. and '5775, 12s. Id., or othr money to arise from such share of Lady E. Grey in the estate of her late uncle, and, .subject thereto, for the benefit of Sir C. E. Grey. Sir C. E. Grey also covenanted lGIFF:m ' BBY:.U ELLISON 991 that in case the'[439J-trustees'of the company, their executors, &g;, &c., should at any time thereafter insure any sums not,exceeding 6832, 16s. on the life of Sir G. E. G-rey, and pay any .additional insurance of Sir C. E. .Grey .going beyond the seas, or taking any military or naval-appointment,, he, the said Sir C. E. Grey, would pay the trustees all such sum or sums,.as should be advanced by them or their cestuis que trusts for an additional premium or premiums, in respect of his going beyond the seas, or taking a naval or military appointment; and that all sums so advanced by the .trustees should be a charge on .the-premises thereby assigned. By an.indenture, dated the 25th of October 1539, indorsed on the above indenture, Sir C. E. Grey granted an additional annuity,of ,116, charged;on the same property in reservation of 958 paid by the trustees. The indenture also contained a similar covenant as to the payment of premiums., By an indenture, dated the 13th of November 1839, in consideration of 2000 paid to Sir C. E. Grey, he, Sir C...
To continue reading
Request your trial
-
Ingram and Another v Commissioners of Inland Revenue
...of New South Wales v Perpetual Trustee Co LtdELR[1943] AC 425 Grey (Earl) v A-G ELR[1900] AC 124 Grey v Ellison ENRENR(1856) 1 Giff 438; 65 ER 990 Henderson v Astwood ELR[1894] AC 150 Kildrummy (Jersey) Ltd v IR Commrs TAX[1990] BTC 8094 Moore, Nettlefold & Co v Singer Manufacturing Co ELR[......
-
Michael Warren Ingram and Others (Appellants v The Commissioners of Inland Revenue (Respondents
...separate interests of landLord and tenant are incapable of creation by such an arrangement…. 114 Lord Hope then cited Grey v Ellison (1856) 1 Giff. 438 in addition to Scottish authorities before continuing: 'The position would have been different if [the nominee] had been contracting with [......
-
Ingram and Another v Commissioners of Inland Revenue
...the separate interests of landlord and tenant are incapable of creation by such an arrangement… Lord Hope then cited Grey v EllisonENR (1856) 1 Giff. 438 in addition to Scottish authorities before continuing: The position would have been different if [the nominee] had been contracting with ......
-
Ingram and Another v Commissioners of Inland Revenue
...not intend to cast any doubt upon this analysis as a matter of Scots law and, if it is correct, the conclusion undoubtedly follows: see Grey v. Ellison (1856) 1 Giff. 438. But a trustee in English law is not an agent for his beneficiary. He contracts in his own name, with a right of indemn......