Jones v Foxall
| Jurisdiction | England & Wales |
| Judgment Date | 01 January 1852 |
| Date | 01 January 1852 |
| Court | High Court of Chancery |
English Reports Citation: 51 E.R. 588
ROLLS COURT
S. C. 21 L. J. Ch. 725. See Vyse v. Foster, 1872-74, L. R. 8 Ch. 333; L. R. 7 H. L. 318.
588 JONES V. FOX ALL WBBAV.i [388] jones v. foxall. Jan. 27, March 29, 1852. [S. C. 21 L. J. Ch. 725. See Vyse v. Foster, 1872-74, L. B. 8 Ch. 333; L. E. 7 H. L. 318.] Principles on which, in cases of breach of trust, trustees are charged with simple and compound interest, and with the profits made in the investment of trust money in trade. Generally, an executor improperly retaining balances, is charged with interest at four per cent.; but if, in addition, he commits a breach of trust, or changes money from a proper into an improper state of investment, he is charged five per cent. If he employ the trust money in trade, he will be charged either with the profits, or five per cent, compound interest. From 1834 to 1850 a trustee, who ought to have withdrawn a trust fund from a trading firm, of which he was a member, neglected to do so. He was charged with compound interest at five per cent., and with costs. Letters written " without prejudice " cannot be used in evidence of admissions. The practice of attempting to do so disapproved of. The facts of this case were shortly these: Previously to the marriage of Anit Minchin, the mother of the Plaintiff, in June 1830, a sum of 350 had been lent by her to the banking firm of Thomas Clarke & Co. on interest at five per cent, per annum. In June 1830, on the marriage of the father and mother of the Plaintiff, this sum of 350, being the debt due from the banking firm, with interest at five per cent, per annum, together with certain stock-in-trade, was assigned to Charles Chamberlaine and the Defendant Joseph Foxall upon trust, to stand possessed thereof for the sole and separate use of the mother for her life, and subject to a power of appointment (which did not appear to have been exercised), and, after her decease, in trust for any child of the marriage. The settlement provided that the trustees should call in the debt of 350 during the life of the mother, whenever they should be requested by her, by any note in writing, to do so; and after her decease, the settlement made it imperative upon the trustees, without any request or application from anyone, to call in this sum of 350, and the interest due on it, and to invest [389] the amount in Government or real securities, upon the trusts of the settlement. The mother received the interest during her life, and never required the money to be got in. She died on the 15th of November 1834, leaving the infant Plaintiff, her only child ; and since then no step had been taken till this bill was filed in. January 1860, either to get in the money or to receive the interest. The manner in which the Defendant Foxall became connected with this trust fund was as follows: When the settlement was executed in 1830, the firm of Thomas Clarke & Co. consisted of Thomas Clarke, Francis Clarke, and the Defendant Joseph Foxall; the sum of 350 was therefore, at that time, a debt due from himself and his co-partners, jointly and severally. This continued to be the state of the case till the month of October 1847, when Thomas Clarke died ; and Francis Clarke and the Defendant Foxall continued to carry on the partnership till the beginning of the year 1850, a fortnight before this bill was filed, when it was finally dissolved. In March 1836 Charles Chamberlaine, having taking no step to get in and invest the money settled, retired from the trust, and Thomas Wilson was appointed co-trustee with Foxall...
To continue reading
Request your trialUnlock full access with a free 7-day trial
Transform your legal research with vLex
-
Complete access to the largest collection of common law case law on one platform
-
Generate AI case summaries that instantly highlight key legal issues
-
Advanced search capabilities with precise filtering and sorting options
-
Comprehensive legal content with documents across 100+ jurisdictions
-
Trusted by 2 million professionals including top global firms
-
Access AI-Powered Research with Vincent AI: Natural language queries with verified citations
Unlock full access with a free 7-day trial
Transform your legal research with vLex
-
Complete access to the largest collection of common law case law on one platform
-
Generate AI case summaries that instantly highlight key legal issues
-
Advanced search capabilities with precise filtering and sorting options
-
Comprehensive legal content with documents across 100+ jurisdictions
-
Trusted by 2 million professionals including top global firms
-
Access AI-Powered Research with Vincent AI: Natural language queries with verified citations
Unlock full access with a free 7-day trial
Transform your legal research with vLex
-
Complete access to the largest collection of common law case law on one platform
-
Generate AI case summaries that instantly highlight key legal issues
-
Advanced search capabilities with precise filtering and sorting options
-
Comprehensive legal content with documents across 100+ jurisdictions
-
Trusted by 2 million professionals including top global firms
-
Access AI-Powered Research with Vincent AI: Natural language queries with verified citations
Unlock full access with a free 7-day trial
Transform your legal research with vLex
-
Complete access to the largest collection of common law case law on one platform
-
Generate AI case summaries that instantly highlight key legal issues
-
Advanced search capabilities with precise filtering and sorting options
-
Comprehensive legal content with documents across 100+ jurisdictions
-
Trusted by 2 million professionals including top global firms
-
Access AI-Powered Research with Vincent AI: Natural language queries with verified citations
Unlock full access with a free 7-day trial
Transform your legal research with vLex
-
Complete access to the largest collection of common law case law on one platform
-
Generate AI case summaries that instantly highlight key legal issues
-
Advanced search capabilities with precise filtering and sorting options
-
Comprehensive legal content with documents across 100+ jurisdictions
-
Trusted by 2 million professionals including top global firms
-
Access AI-Powered Research with Vincent AI: Natural language queries with verified citations
Start Your 7-day Trial
-
Ofulue and Another v Bossert
...the case for doing so is absolutely plain. The principle which the court should follow was that expressed by Sir John Romilly MR in Jones v Foxall (1852) 15 Beav 388, 396. If converting offers of compromise into admissions of acts prejudicial to the person making them were to be permitted n......
- Board of Trustees of the Sabah Foundation, The v Datuk Syed Kechik bin Syed Mohamed (No 2)
-
Gregory John Rollingson v James Hollingsworth
...the case for doing so is absolutely plain. The principle which the court should follow was that expressed by Romilly MR in Jones v Foxall (1852) 15 Beav 388, 396. If converting offers of compromise into admissions of acts prejudicial to the person making them were to be permitted no attempt......
-
William Kurt Wallersteiner (Plaintiff Appellant) M. J. G Moir (Defendant Respondent) M. J. G Moir (Plaintiff on counterclaim) William Kurt Wallersteiner Hartley Baird Ltd and Another (Defendants on counterclaim)
... ... the Courts of Equity acted are expounded in a series of cases of which I would take the judgment of Sir John Romilly, Master of the Rolls, in Jones v. Foxall (1852) 15 Bacon 388 : of Lord Cranworth, Lord Chancellor, in A.G. v. Alford (1855) 4 De G.M. & G. at page 851 : of Lord Hatherley, Lord ... ...
-
AN ACCOUNT OF ACCOUNTS
...of Trust”(1918) 34 LQR 168. 9 See Jamie Glister, “Breach of Trust and Consequential Loss”(2014) 8 J Eq 235 at 235–238. 10Jones v Foxall(1852) 15 Beav 388 at 393; (1852) 51 ER 588 at 590; see also Robert Chambers, “Liability” in Breach of Trust (Peter Birks & Arianna Pretto eds) (Oxford: Har......
-
Litigation
...plc v Rashid [2006] 1 WLR 2066 at 2074–2075 [24], per Lord Hope. 410 Jones v Foxall (1852) 15 Beav 388 at 396–397, per Sir John Romilly MR [51 ER 588 at 591]; Rush & Tompkins Ltd v Greater London Council [1989] 1 AC 1280 at 1301, per Lord Griiths; Oceanbulk Shipping and Trading SA v TMT Asi......