Lyall and another v Edwards and Matthie
| Jurisdiction | England & Wales |
| Judgment Date | 21 January 1861 |
| Date | 21 January 1861 |
| Court | Exchequer |
English Reports Citation: 158 E.R. 139
IN THE COURT OF EXCHEQUER AND EXCHEQUER CHAMBER
S. C. 30 L. J. Ex 193. Referred to, Morre v Weston, 1872, 25 L T. 542.
lyall and another 0. edwards and matthie. Jan. 21, 1861.-Though a release is general in its terms, the Court will limit its operation to matters eontemplated by the parties at the time of its execution.-Trover for indigo warrants. Plea: that the plaintiffs by deed released the defendants from the causes of action. Keplicatron, on equitable grounds, setting out a deed for the liquidation of the affairs of the defendants under inspectorship, and by which the plaintiffs, who were creditors of the defendants, released them "fiom all and all manner of actions, cause of action and suit, billa, bonds, writings, obligations, debts, &e, claims arid demands whatsoever both at law and in equity, or otherwise howsoever." Averments. that at the time the plaintiff's executed the felease they did not know that they had any claim against the defendants in respect of the said warrants, and that the plaintiffs executed the deed intending thereby only to release the debt due from the defendants to them. Rejoinder : that the plaintiffs employed the defendants to purchase goods and obtain advances lor them, and that there were cross-claims against each other constituting matters of account. that the defendants had authority from the plaintiffs to deposit, as a security for the repayment of advances, the warrants of goods purchased for them, to an amount sufficient to cover the liabilities of the defendants for the plaintiffs: that whilst the said warrants were so deposited, the defendants suspended payment and the parties who held the warrants sold the goods repre- 140 LYALL V. EDWARDS 6H&N 338. sented thereby : that at the time of the making of the said deed the state of accounts between the plaintiffs and defendants was not ascertained, and whether the defendants had exceeded their authority in depositing the warrants was wholly unknown to the defendants and the plaintiffs that the release was given in consideration of the execution of the same by other creditors, the consideration for whose execution was the execution by the plaintiffs that the other creditors supposed that the release was intended to include all claims which the plaintiffs, upon ascertaining the accounts, might have against the defendants. On demurrer to the rejoinder: Held, that the replication was good and the rejoinder bad. [S. C. 30 L. J. Ex 193. Referred to, Mome v Weston, 1872, 25 L T. 542.] Declaration. That the defendants converted to their own use and wiongfully deprived the plaintiffs of the use and possession of certain of the plaintiffs' goods, that is to say, of twenty-two warrants for twenty-two chests of indigo and twenty-two chests of indigo Plea. That after the alleged causes of action accrued, and before this suit, the plaintiffs, by deed, released the defendants therefrom. Replication on equitable grounds That before and at the time of the execution by the plaintiffs of the said deed [338] of release, the defendants weie indebted to the plaintiffs in a large sum of money, and, whilst they were so indebted, by an indenture made the 19th day of December, 1857, between the defendants of the first part, D. Chapman and W. Turquand of the second part, and the several persons who were respectively creditors of the defendants on account of their copartnership business (amongst whom were the plaintiffs) of the third part, the several persons who were respectively creditors of the defendant J. Edwards of the fourth part, the several persons who were respectively creditors of the defendant J. Matthie of the fifth part After reciting that the defendants had carried on business in copartnership as East India and colonial brokers, and that they the defendants having suspended payment on the 18th day of November, 1857, a meeting of their creditors was held on the 26th day of November, 1857, at which a statement of the affairs of the defendants was made, and it was unanimously resolved, amongst other things 1st. That it was the opinion of fche meeting that the interests of the creditors would be consulted by the defendants devoting their services for the realization of the assets under the direction of inspectors. 3rd. That a dividend should be paid as soon as funds could be realized, and that in the meantime a proper deed of inspectorship and liquidation, containing all usual covenants, should be prepared under the approval of the inspectors, and executed by the creditors. 4th. That such deed should contain covenants by the partners to liquidate the affairs of the firm under the inspection, and to divide the proceeds among the creditors rateably, according to the rules of administration adopted in bankruptcy (and covenants by the creditors not to sue the partners for twelve months, and then that the deed should operate as a release of the partners from all claims, or sooner if the inspectors should require it). It was wit-[339]-nessed that, in pursuance of the resolutions and agreement, and in consideration of the co\ eriants thereinafter contained on the part of the...
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