Liverpool Borough Bank v Walker
| Jurisdiction | England & Wales |
| Judgment Date | 24 March 1859 |
| Date | 24 March 1859 |
| Court | High Court of Chancery |
English Reports Citation: 45 E.R. 10
BEFORE THE LORDS JUSTICES.
See Kendall v. Hamilton, 1878, 3 C. P. D. 409; In re Hodgson, 1885, 31 Ch. D. 185.
[24] liverpool borough bank v. walker. Before the Lords Justices. March 23, 24, 1859. [See Kendall v. Hamilton, 1878, 3 C. P. D. 409; In re Hodgson, 1885, 31 Ch, D. 185.] Executors carried on their testator's trade in that character, and in the ordinary course of the business accepted a bill of exchange describing themselves in it simply as executors of their testator. Held, that neither the above circumstances, nor the form of the acceptance, relieved the estate of one of the executors, who died in the lifetime of the other, from the ordinary equitable liability upon the bill. This was an appeal of two Defendants under the 17 & 18 Viet. c. 82, from the decision of the Vice-Chancellor of the Duchy of Lancaster, overruling a demurrer to the Plaintiffs' bill, which stated, in substance, as follows:- That Joseph Wood, late of Radcliffe, in the County Palatine of Lancaster, during his life carried on the business of a cotton spinner, and by his will, dated the 3d of December 1849, nominated the Defendants Mary Anne Wood and William Wood and Samuel Walker his joint executrix and executors, and directed his executors to continue his business at their discretion so long as they should think it advantageous; but if not, that they should then dispose of his stock-in-trade and invest the same, and pay the interest from such investments as in the will mentioned. That Joseph Wood died on the 23d of November 1851; that his will was duly proved by the Defendants Mary Anne Wood and William Wood and Samuel Walker, and that his executors and executrix continued his business under the style or name of "The executors of Joseph Wood " till some time in the year 1858. That in the course of such business two bills of exchange, bearing dates the 30th of July 1857 and the 23d of October 1857, for the respective sums of 980 and .1450, and both payable at three months after date, and expressed to be for value received, were, in the usual course of such business, accepted as follows :-" Accepted [25] payable at Messrs. Glyii & Co.'s, London. P. pro. The executors of Joseph Wood, William Wood," and were discounted and endorsed to the Plaintiffs; and that both of the bills were dishonoured. That an action was commenced by the Plaintiffs upon these two bills of exchange against the Defendants Mary Anne...
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