Sidmouth v Sidmouth
| Jurisdiction | England & Wales |
| Judgment Date | 28 April 1840 |
| Date | 28 April 1840 |
| Court | High Court of Chancery |
English Reports Citation: 48 E.R. 1254
ROLLS COURT
S. C. 9 L. J. Ch. (N. S.), 282. See Hepworth v. Hepworth, 1870, L. R. 11 Eq. 13.
[447] sidmouth v. sidmouth. April 27, 28, 1840. [S. C. 9 L. J. Ch. (N. S.), 282. See Hepworth v. Hepwmth, 1870, L. R. 11 Eq. 13.] When property is purchased by a parent in the name of his child, it is primd facie, an advancement; the implied trust in favour of the person paying the money, does not JBEAV, 448. SIDMOUTH V SIDMOUTH 1255 in such case arise. This presumption may, however, be rebutted by evidence, manifesting an intention that the child shall take as trustee. Where a purchase is made by a parent in the name of a child, the cotemporaneous acts and declarations of the parent are evidence to shew that the child shall take as trustee only ; but the subsequent acts and declarations of the parent are inadmissible for that purpose. Monies were invested in the funds, by a father, in the name of his son, the dividends of which were received by the father during his life, under a power of attorney from' the son. Held, after his death, that this was an advancement, and that the funds belonged to the son. The question in this case was, whether certain sums which had been purchased in the funds, by Lord Stowell in the name of his only son Mr. Scott, and the dividends of which had, with the concurrence of Mr. Scott, been received by Lord Stowell during his life, belonged under the circumstances to. the estate of Mr. Scott, or whether Mr. Scott was a trustee for his father. At six different times in the years 1825 and 1826, namely, on the 4th of May, the 27th of July, the 29th of October, and the 24th of November 1825, and on the 27th of January and the 24th of October 1826, Lord Stowell purchased several large sums in the funds in the name of his only son Mr. Scott, and on the 13th of January and the 24th of October 1825, and on the 3d of August 1826, Mr. Scott executed powers of attorney authorising Lord Stowell and his bankers to receive the dividends, which, it appeared, had been done, and [448] the amount carried to the credit of Lord Stowell's account with his bankers. It did net appear that Mr. Scott knew of the purchases at the time they were made, and in two of the cases it did not appear that he knew of the transfers, until the times when he executed the powers of attorney, but in one case he attended at the bank with his father and received the dividend warrant, which he handed over to Lord Stowell. What took place, at the time Lord Stowell directed the purchases to be made, was detailed in the evidence of Mr. Addison, then a clerk of Lord Stowell's bankers, and was as follows :-After stating that Lord Stowell was in the habit of coming to his bankers when he had some surplus money to lay out, for the purpose of giving directions as to its investment, and that the witness almost uniformly saw him on those occasions; he stated " that a conversation of this sort usually occurred, viz., after mentioning that he had some spare money to lay out, he would say, partly as if deliberating to himself, and partly as if speaking to witness, ' What shall I buy 1 I have some idea of buying the stock in my son's name,' and after hesitating and considering for a short time, he would add, ' well, I think I will buy it in my son's name,' or he used expressions to that effect. That, although the said Lord Stowell now and then evinced some little indecision as to whose name the stock should be purchased in, yet that all the purchases of stock which he made from the 4th of May 1825, till the month of October 1826, were with one exception made by his direction in the name of his son .William Scott. That the witness was led to believe, as well from his conversations with Lord Stowell, as from the manner in which the stock was dealt with and treated, that Lord Stowell [449] always considered that the stock, so purchased in his said son's name, still remained his own property." In 1830 Lord Stowell made his will and two codicils, and in November 1831 he made a third codicil, under which he intended Mr. Scott to take considerable benefits. He, however, died in November 1835, and his father, Lord Stowell, died two months afterwards, in January 1836. There was some evidence of his lordship's solicitor, to the effect that in 1829 and in 1831, at an interview respecting his will, Lord Stowell had spoken of some property which Mr. Scott had in the funds, and which he had taken into account in determining the amount intended to be left to him by Lord Stowell. There was also some evidence to shew that in the enumeration of Lord Stowell's property, shortly before his death, but when his...
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