« ՆախորդըՇարունակել »
and appoint my said wife, together with the said (trustees), to be executrix and executors of this my will, and in case of the death of any two or more of them before the trusts of this my will shall be fully executed and performed, then I do nominate, con
appointed. stitute, and appoint my two eldest sons, for the time being, when they shall respectively have attained the age of 18 years, to be executors of this my will, Substitutionary in the place and stead of such two or more of them, my said wife and the said trustees, as shall so die before the trusts of my said will shall be fully executed and performed, and with all the same 'power and powers, authority and authorities, to all intents and purposes whatsoever, as such executrix or executors, who shall so happen to die, had or might have under and by virtue of this my will, at the time of his or her death.
To obtain a decree, if a decree be necessary, the trustees, or any person as prochein ami for the infant cestui que trusts, may file a bill to compel a specific performance of the contract by the purchasers, and then the Court will direct and confirm the sale. But purchasers of leasehold or chattel estates or interests will be safe without any decree, notwithstanding the omission to make the receipts of the trustees discharges, if the trustees are also executors, for the property in such subjects always vest inthe first place, notwithstanding the dispositions of the will, in the executors. A testator cannot prevent them from being assets in the hands of the executors to go in a due course of administration. The power of sale is annexed to their office, and the purchaser is never obliged to enter into the account, or enquire into the necessity of any sale, 4 T. R. 625, Whale v. Booth, 2 P. Wms. 149, Ewer v. Corbitt. But the transaction must be clear of all fraud or collusion, for if it be tainted with these qualities the estate will be specifically followed into the hands of the purchaser. So where there is express notice of a debt of testator unsatisfied, and the sale is a contrivance between the purchaser and executor to defeat the debtor, the purchaser makes himself party to the devastavit; see 2 Vern. 616, Crane v. Drake, 1 Atk. 163, Nugent v. Gifford, 7 Vez. jun. 152, Hill v. Simpson. And if such sale be without valuable consideration it falls within the statute, 13 El. c. 5, Gilb. Eq. R. 111.
Power to the And I do hereby declare my will to be, that it shall trustees to renew the lease of the and may be lawful to and for my said wife and testator's dwel. the said (trustees) and also to and for my said two purchase other eldest sons, when they shall severally become entitled premises, with full discretionary
to prove and shall have proved this my will, and the powers for survivors or survivor of them, and the executors or
administrators of such survivor from time to time, if trade.
need be, to renew the lease of my dwelling-house and premises wherein the said trade or business is now carried on, or to purchase the fee-simple there of, or of any undivided part or share thereof, or to take any other dwelling-house, shop or shops, warehouse or warehouses, or other premises, at such rent or rents as they shall think proper, for the purpose of carrying on the said trade or business, and to hire and employ any servant or servants, clerk or clerks, or any other person or persons whomsoever, to be employed therein, at such salary or wages as they, my said trustees and executors for the time being, shall think proper, and to repose in such servant or servants, clerk or clerks, or other person or persons, so much and such confidence, trust, power, or authority, in the conducting and carrying on of the same trade or business, and in the management, care, and disposal of the stock employed or to be employed therein, and in the receipt of any debt or debts to be contracted, in or by the carrying on the trade hereby directed to be carried on, as they my said trustees or the survivors or survivor shall in his, her, or their discretion think fit, provided that after any or either of my said sons shall become partners or partner in the said trade or business, such of them as for the time being shall be partners or partner therein, shall have a voice therein, as well as my trustees and exceutors for the time being, so as that in case of a difference in opinion, the majority of voices shall decide as hereinafter is mentioned ; and also to adjust, settle, compromise and compound all accounts, reckonings, transactions, matiers, and
things, in which I shall be concerned or interested at the time of my decease, or which shall be opened or contracted, or shall arise after my decease, and to pay, on any evidences they shall think proper, any debts claiined from my estate, and also to dismiss any such servant or servants, clerk or clerks, or other person or persons; and (with such consent as aforesaid) to hire and employ any other or others in his, or their stead, and that from time to time, and as osten as my said executors shall think proper. And If the trustees I do hereby will, direct, and declare, that in all cases differ in opinion, where my trustees, and executors for the time being the matter in shall happen to differ in opinion, the matter of such decided by the difference shall be decided by the major part or majority. number of them my said trustees and executors, and be acted upon accordingly. And I do hereby declare my will to be, that they my said executors, and their respective executors and administrators, shall not be answerable or accountable for any loss or damage which shall come or happen to the stock or capital to be employed in the said trade or business, by bad debts, decay of goods, suit or action, or suits or actions, in any court or courts of law or equity, or any other casualties or accidents whatsoever, or by reason of the trust and confidence which they or any of them shall or may place or repose in any servant or servants, clerk or clerks, banker, broker, or other persons with whom any part of the said trust-monies shall or may be deposited or lodged, for safe custody or otherwise, or for any other loss or damage which may happen about the execution of this my will, or all or any of the trusts hereby in them reposed; and that they my said trustees and executors, and their respective executors and administrators, shall not be charged or chargeable with or for any sum or sums of money, other than such as shall actually and respectively come to his, her, or their hands by virtue of this my will.
And my will is, and I do hereby further direct, that it shall and may be lawful to and for my said trustees and executors, and each and every of them, by and out of all or any of the monies which shall come to their or any of their hands, by virtue of this my will, to deduct, retain to, and reimburse themselves, himself, and herself, and to allow his, her, or their, cotrustee, or co-trustees, all such costs, charges, and expences, as they respectively shall or may sustain, expend, or be put unto, in or about the execution of all or any of the trusts, hereby in them reposed, or in anywise relating thereto. And I do hereby revoke and make void all former and other wills by me at any
time heretofore made, and do declare this only to be my last will and testament.
In witness, &c.
A comprehensive Devise and Bequest of various
descriptions of Property to Trustees, for sale and accumulation of the Produce.
I GIVE, devise, and bequeath all my stocks, funds, money, mortgages, and all lands, tenements, and hereditaments whatsoever, to which I am beneficially intitled, or which have been conveyed to, or vested in me by way of mortgage, security, or trust, and all my estate, right, title, and interest of, in, and to such mortgaged premises, and all securities for money, and all my goods, chattels, and personal estate whatsoever and wheresoever, and of what nature or kind soever, not otherwise by me disposed of, after and subject to the payment of my just debts, funeral expences, and the several legacies, bequests, and dispositions by me given, bequeathed, or made, or hereafter to be given, bequeathed, or made, and all
my estate and interest therein, unto the said and
their heirs, executors, and administrators respectively, according to the several natures and qualities of the same, upon the trusts following (that is to say) upon trust, that they my said trustees and the survivor of them, and the heirs, executors, administrators, and assigns of such survivor, do and shall stand and be seised and possessed of the estates vested in me as a trustee, upon the trusts thereof respectively, and to re-convey, assign, and dispose of the mortgaged lands, tenements, and hereditaments, when the principal and interest thereby secured respectively are paid off, and receive the principal and interest which shall be due therefrom respectively, and give receipts for the same when paid; and also do and shall sell and dispose of all the real estates, to which I am beneficially entitled, and of which I have power to dispose, and also all the Jeasehold estates that I may hold at the time of my decease, from time
to time, as they shall find purchasers for the same, or do and shall sell the same at public auction, or otherwise, at their discretion, subject nevertheless and without prejudice, to the privilege bereinbefore given to my said wife, of occupying, during her life, such of my leasehold houses as may be in my own occupation at the time of my decea e; and also shall and do make sale of such other parts of the residue of my personal estate as shall be saleable. And I hereby declare, that the receipt or receipts of the said and
-, or the survivor of them, or the executors or administrators of such survivor, shall be effectual discharges for so much money as shall be therein acknowledged or expressed to have been received. And I do hereby declare my will to be, and direct, that the said - and
and the survivor of them, and the executors or administrators of such survivor, shall and do from time to time place out and invest the monies which shall arise by sale of my