The Trusts of the Settlement of Benjamin Gaffee and Hannah his Wife, and the Act
| Jurisdiction | England & Wales |
| Judgment Date | 04 May 1849 |
| Date | 04 May 1849 |
| Court | High Court of Chancery |
English Reports Citation: 41 E.R. 1375
HIGH COURT OF CHANCERY
S. C. 1 H. & Tw. 635; 19 L. J. Ch. 179; 14 Jur. 277. See Hawkes v. Hubback, 1870, L. R. 11 Eq. 7. Discussed, King v. Lucas, 1883, 23 Ch. D. 712.
[541] In the Matter of the trusts of the settlement of benjamin g-affee and hannah his wife, and in the Matter of the act 10 & 11 vict. c. 96. May 4, 1849; Feb. 26, 1850. [S. C. 1 H. & Tw. 635; 19 L. J. Ch. 179; 14 Jur. 277. See Hawkes v. Hubback, 1870, L. R. 11 Eq. 7. Discussed, King v. Lucas, 1883, 23 Ch. D. 712.] By a post-nuptial settlement a sum of money, the property of the wife, was vested in trustees upon trusts, which were construed to operate as a direction to pay the dividends to the wife for her life, or to her appointees without anticipation. Held, that the restraint against anticipation operated during the whole life of the wife, and was not restricted to an existing coverture by the introduction of additional words which obviously applied only to such existing coverture. If the restriction forms part of the only sentence which gives any estate, and is in words made part of the gift, then the estate and the restriction must be commensurate. By a post-nuptial settlement, bearing date the 29th May 1811, and made between the Reverend Benjamin Gaffee (since deceased) and Hannah Gaffee (his wife) of the one part, and two parties named as trustees of the other part, it was witnessed, declared, and agreed, that the trustees and the survivor of them, and the executors, administrators, and assigns of such survivor, should stand and be possessed of and interested in the monies to arise from the sale of certain estates and hereditaments therein mentioned or referred to which should come to their lhands, and of the stocks, funds, and securities, in or upon which the same monies should be laid out or invested as therein mentioned, and the rents, issues, and profits of the said estates and hereditaments until the same should be sold, and also of and in the sum of £850 £3 per cent, consolidated Bank annuities which had been transferred into, and was then standing in the joint names of the trustees in the books of the Governor and Company of the Bank of England as therein mentioned, upon trust that they should out of the same sums of money, in the first place retain to and reimburse themselves and himself, all costs, charges, and expenses which they should sustain in the execution of the trusts, and after payment of such costs and expenses should stand and be possessed [542] of the surplus, and of the rents, issues, and profits thereof until the same should be sold, and also of the sum of £850 £3 per cent, consolidated Bank annuities, upon and for the trusts, intents, and purposes thereinafter declared (that is to say), upon trust that they, the said trustees and the survivor of them, and the executors, administrators, and assigns of such survivor, should lay out and invest such surplus when the same should be received, immediately, or as soon as conveniently might be, in their or his names or name, in the purchase of a competent share or competent shares of any of the Parliamentary stocks or public funds of Great Britain, or at interest upon Government or real securities in England or Wales, and should from time to time alter, vary, and transpose the same as they or he should think fit, so that during the lives of B. Gaffee and H. Gaffee, and the life of the survivor of 1376 IN BE GAFFEE 1 MAC. * Q. MS. them, every such laying oat, investment, alteration, variation, or transposition should be made with the consent of the said B. Gaffee and H. Gaffee, or the survivor of them, testified by some writing under their, his, or her hands or hand ; and should stand and be possessed of and interested in the said trust monies, stocks, funds and securities, and the interest, dividends, and annual produce thereof, and of the rents, issues...
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