Snow v Booth
| Jurisdiction | England & Wales |
| Judgment Date | 15 February 1856 |
| Date | 15 February 1856 |
| Court | High Court of Chancery |
English Reports Citation: 44 E.R. 315
BEFORE THE LORDS JUSTICES.
S. C. 2 K. & J. 132; 25 L. J. Ch. 417; 2 Jur. (N. S.), 244; 4 W. R. 345.
[69] sno\v v. booth. Before the Lords Justices. Feb. 15, 1856. [S. C. 2 K. & J. 132; 25 L. J. Ch. 417; 2 Jur. (N. S.), 244; 4 W. R. 345.] A reversioner in fee expectant on the death of the survivor of two tenants for life granted an annuity for ninety-nine years determinable with lives, and with a surety covenanted for payment of the annuity. He also demised the reversion for 500 years in trust, if the annuity should be in arrear, to sell the reversion and raiae the arrears and future payments of the annuity. The grantor and surety became bankrupts, and when the annuity had been in arrear more than twenty years, the annuitant filed a bill to have the arrears raised. Held, that the Statute of Limitations did not apply. This was the appeal of the Defendant from a decree of Vice-Chancellor Wood, directing the payment to the Plaintiff of an annuity with arrears, beyond the period of six years. The case is reported in the 2d Volume of Messrs. Kay & Johnson's Reports (page 132). The annuity was secured by an indenture, dated the 8th of April 1824, and made between Edward Hampton Noy of the first part, Matthew Hercules Sheppard (a surety) of the second part, George Morris of the third part, and Edward Bridger of the fourth part, whereby Noy and Sheppard covenanted to pay Morris, his ex-[70]-ecutors, administrators or assigns, an annuity of X36 for a term of ninety-nine years, if William Lee, Thomas Lee, Alfred Bridger and Charles Bridger, if any or either of them should so long live. By the same deed Noy demised to Edward Bridger, his executors, administrators and assigns, for 500 years, certain hereditaments to which Noy was entitled in reversion in fee under the will of a Mr. Hampton, subject to the life-estates of the testator's daughters, upon trust to permit Noy and his heirs to hold the premises until they should bepome liable to be. sold under the trusts thereafter declared, and upon further trust in case the annuity should be in" arrear by the space of one calendar month next after any of the days or times whereon the same ought to be paid as aforesaid, then that the said Edward Bridger, his executors, adminis- 316 SNOW V. BOOTH 8 DB 0. M. * O. Tl. trators or assigns, should, without the necessity of any further consent or concurrence of Noy, his heirs or.assigns, and either before or after -the decease of the testator's two daughters or the survivor of them, make sale and absolutely dispose of the premises or such part or parts thereof as the said Edward Bridger should think proper for all the then residue of the term of 500 years thereby granted: and it was declared that Edward Bridger, his executors, administrators and assigns, should stand possessed of the monies to arise by the sale or sales to be made under the trusts thereby declared, and of and in the rents arid profits (if any) of the said hereditaments and premises becoming payable after the same should become liable to be sold, and until the same should be sold, should be received by the said Edward Bridger, hia executors, administrators or assigns, upon trust, after payment of costs, to pay to Morris, his executors, administrators and assigns, such of the premiums and expenses of assurance and interest thereon thereinafter covenanted to be paid as should then remain owing to him or them, and in the next place to pay to Morris, [71] his executors, administrators or assigns, so much of the annuity thereby granted as at the time of such sale or gales should be in arrear, with all costs, damages and expenses occasioned by default in payment of the annuity, and upon trust to invest the then residue of the purchase-monies, rents, issues and profits in the public funds, and out of the dividends, and if such dividends should be insufficient, then in addition thereto by disposing of from time to time sufficient part or parts of the principal money to pay the arrears from time to time of the annuity and the premiums on the insurance therein mentioned, with interest and costs, with an ultimate trust in favour of Noy. Sheppard became bankrupt in 1827, and Noy in 1829. Noy's interest under the...
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