Way's Trusts; and The Act for Better Securing Trust Funds and for the Relief of Trustees
| Jurisdiction | England & Wales |
| Judgment Date | 18 November 1864 |
| Date | 18 November 1864 |
| Court | High Court of Chancery |
English Reports Citation: 46 E.R. 416
BEFORE THE LORDS JUSTICES.
S. C. 34 L. J. Ch. 49; 11 L. T. 495; 10 Jur. (N. S.), 1166; 13 W. R. 149. See Hall v. Hall, 1872, L. R. 14 Eq. 377; In re Earl of Lucan, 1890, 45 Ch. D. 474.
[365] In the Matter of way's trusts ; and In the Matter of the act for better securing trust funds and for the belief of trustees. Before the Lords Justices. Nov. 18, 1864. [S. C. 34 L. J. Ch. 49; 11 L. T. 495 ; 10 Jur. (N. S.), 1166; 13 W. E. 149. See Hall v. Hall, 1872, L. R. 14 Eq. 377 ; In re Earl of Lucan, 1890, 45 Ch. D. 474.] A person entitled to an equitable reversionary interest in a sum of stock made a voluntary assignment of it by deed to trustees. No notice was given of this deed either to the trustees named in it, or to any person interested under it, or to the original trustees of the stock; the assignor retained the deed and subsequently destroyed it, and made a different disposition by will of the fund, which was still standing in the names of the original trustees. Held, that unless the deed could be successfully impeached on the ground of fraud, mistake or surprise, it operated as an effectual disposition of the fund, notwithstanding the absence of notice and the retention and destruction of the deed by the assignor. This was an appeal by the Attorney-General from an order made by the Master of the Rolls, who decided that a voluntary settlement of the llth of May 1852 was ineffectual. At the time of the date of the voluntary settlement a sum of JE2500 Old South JDEO. J. JE8.1M. RE WAY'S TRUSTS 417 Sea Annuities (afterwards converted into Reduced 3 per cent, annuities) was standing in the names of the trustees of a deed dated the 18th of November 1820, upon trust for Susannah Mary Way during her life, and after her death (subject to certain life interests which determined in her lifetime) upon trust for Dame Catherine Cholmeley absolutely. By a voluntary settlement, dated the llth May 1852, and expressed to be made between Lady Cholmeley of the one part, and certain persons therein named as trustees of the other part, Lady Cholmeley assigned the fund to these trustees upon certarin truats, for the benefit of her two sisters, the daughters of George Way, during their lives, and after the death of the survivor of such daughters, upon trust to assign the fund to the owner for the time being of the mansion-house called Denhain Place, in the county of Bucks, and to the rector for [366] the time being of the Church of Denham for certain charitable purposes. This settlement, which contained no power of revocation, was formally signed, sealed and delivered by Lady Cholmeley in the presence of, and her execution thereof was attested by, her then solicitor Mr. Thomas Sismey, who had prepared the deed by her instructions, and had on a previous occasion read...
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Sudagar Khan v Tariq Hanif Mahmood
...manifested but not notified to anyone, including the debtor, has been held to be valid: Re Way's Trusts, (1864) 2 De G J & S 365, 46 ER 416; Alexander v. Steinhardt, Walker & Co, [1903] 2 KB 60 Judgment at [147] to [151]. 61 Paragraph 15 of the Respondent's written submissions. 62 Judgment......
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Tsu Soo Sin v Oei Tjiong Bin and Another
...applies so that the notice takes effect when posting occurs. [emphasis added] 42 In the Matter of Way’s Trusts (1864) 2 De GJ & S 365; 46 ER 416 (“Way’s Trusts”), cited in support of the italicised proposition above, was applied at first instance in Pennington v Waine [2002] 1 WLR 2075, but......
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Tsu Soo Sin v Oei Tjiong Bin and Another
...applies so that the notice takes effect when posting occurs. [emphasis added] 42 In the Matter of Way’s Trusts (1864) 2 De GJ & S 365; 46 ER 416 (“Way’s Trusts”), cited in support of the italicised proposition above, was applied at first instance in Pennington v Waine [2002] 1 WLR 2075, but......