Watkins v Nash
| Jurisdiction | England & Wales |
| Year | 1865 |
| Date | 1865 |
| Court | Equity |
Escrow - Delivery to Stranger - Delivery to Grantee's Solicitor.
The delivery to the solicitor of the grantee of an instrument executed by the grantor will not convert the instrument from an escrow into a deed, provided the delivery is of a character negativing its being a delivery to the grantee.
The definition of an escrow in Sheppard's TouchstoneF1 explained.
THIS was a foreclosure suit. According to the judgment of the Vice-Chancellor, the evidence in the case, which was somewhat conflicting, resulted in establishing the following facts:—
The Plaintiffs, Benjamin Watkins and William Hutcheson Collins, were the trustees of the settlement executed on the marriage of Mr. John Henry Skyrme, a solicitor, practising at Ross, in the county of Hereford, under which instrument the wife took the first life interest in the settled property.
By an indenture, dated the 29th of November, 1866, the Defendant, Francis Nash, conveyed to the Plaintiffs, their heirs and assigns, certain freehold hereditaments in the Forest of Dean, by way of mortgage, for securing the repayment of a sum of £2000, part of their trust fund, which the Plaintiffs then advanced to Nash.
In the year 1869, Skyrme, who was Nash's solicitor, informed the Plaintiffs that Nash was desirous of paying off the mortgage debt, and of taking a reconveyance to himself, and a reconveyance was accordingly prepared, and was engrossed on the indenture of mortgage.
Collins, who was a solicitor, resided at Ross, and Watkins, who was a farmer, resided nine miles from Ross, and only attended that town for business purposes.
On the 23rd of December, 1869, Skyrme, in company with Watkins, called upon Collins at his office in Ross, and at Skyrme's request, and upon his representation that it would facilitate the speedy completion of the matter, Watkins then and there executed the reconveyance as an escrow conditional on the payment of the mortgage debt, and left it with Collins.
Nothing further was done in the matter until the 18th of April, 1872, when Skyrme, in company with Watkins, called on Collins, and told him that Nash, the mortgagor, was about to sell the mortgaged property, and intended to pay off the mortgage debt in the then following week, and Skyrme then requested Collins to execute the reconveyance so as to enable him (Skyrme) to take it to London to be stamped, and by making an affidavit that the matter had until then been unsettled to save the penalty payable on the non-stamping of the instrument. Collins upon this request executed the reconveyance and handed it to Skyrme, taking from him an undertaking in writing to return it in two days, which undertaking contained a statement to the effect that the deed had been executed as an escrow, and upon the faith of an undertaking that the business should be forthwith settled.
The reconveyance was returned by Skyrme to the Plaintiffs a few days afterwards; the mortgage debt was, however, never paid to the Plaintiffs. On the 27th of April, 1873, Skyrme died, and on the 3rd of June, 1873, the Plaintiffs gave Nash notice to pay off the mortgage debt and interest. It was then discovered that Skyrme had fraudulently appropriated the money raised by Nash to pay off the mortgage debt, leaving Nash under the impression that it had been paid off, and the property reconveyed in December, 1869; and although no interest had been...
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WM Cory & Son Ltd v Commissioners of Inland Revenue
...price is paid. Whilst the condition remains unperformed, the sale is not complete and the purchaser does not get the legal title! see Watkins v. Nash in 1875, and Thompson v. McCullouRh in 1947. But as soon as the money is paid, the sale is complete. The instrument there may precede any bin......
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Bank of Scotland v King
...Deed dated 29 th June 2004.” 55 In this way, the transfer was given to the solicitors for the party who was to benefit under it. In Watkins v Nash (1875) LR 20 Eq 262, reference is made to Sheppard's Touchstone at pages 58 and 59 where it is stated that it is essential, in order for an inst......
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Table of Cases
..., 222 N.C. 566......................723 Watkin v. Hall (1868) L.R. 3. Q.B. 399……….......................…………..……99 Watkins v. Nash, L.R. 20 Eq. 262.................................................................411 Waziri v. Ali (2009) 4 N.W.L.R. (Pt. 1130) 178………………..........………….349 Webs......
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ESCROW
...a Condition; if the Condition is performed, the deed becomes absolute; but until then it is an escrow i.e. in suspense (Watkins v. Nash, L.R. 20 Eq. 262 and case there cited)." See also Vincent v. Premo Enterprises (supra)." - Per Onu, J.S.C. in Awojugbagbe Light Ind. Ltd. v. Chinukwe Suit ......