This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 Excerpt: ... Simonsen, 5 De Gex & S. 726. Flint On Trusts--24 5 Glengall v. Barnard, 5 Beav. 245; Pickering v. Pickering, 4 Mylne & C. 298. 8 Phillips v. Sarjent, 7 Hare, 33; Lord v. Godfrey, 4 Madd. 455; Morgan v. Morgan, 14 Beav. 72; Cotton v. Cotton, 14 Jur. 950. $ 201. Conversion.--Trustees who are directed or empowered to ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 Excerpt: ... Simonsen, 5 De Gex & S. 726. Flint On Trusts--24 5 Glengall v. Barnard, 5 Beav. 245; Pickering v. Pickering, 4 Mylne & C. 298. 8 Phillips v. Sarjent, 7 Hare, 33; Lord v. Godfrey, 4 Madd. 455; Morgan v. Morgan, 14 Beav. 72; Cotton v. Cotton, 14 Jur. 950. $ 201. Conversion.--Trustees who are directed or empowered to convert the trust estate, have a year in which to do it, unless some other time is expressly stated.1 Frequently conversion is in the discretion of the trustees,2 and they have power to pay over the entire income.3 The trustees, tenant for life, and remainder-man, must act in good faith and for the protection of each other.4 Formerly, where there was a direction for conversion, it was thought that no income would be received by the life tenant;5 but it is now determined, unless there is a direction for accumulation, that he will receive the income for one year. Generally, the accumulation, if there is to be one, is limited to a year.7 1 Johnson v. Newton, 11 Hare, 160; Cogswell v. Cogswell, 2 Edw. Ch. 231. 8 Yates v. Yates, 28 Beav. 637. 3 Williamson v. Williamson, 6 Paige, 303; Howe v. Dartmouth, 7 Ves. 150. 4 Dimes v. Scott, 4 Rasa. 200; Fearns v. Young, 9 Ves. 549. 5 Stott v. Hollingworth, 3 Madd. 161; Sitwell v. Bernard, 6 Ves. 520. Macpherson v. Macpherson, 16 Jur. 847; Hewitt v. Morris, Turn. & R. 244. 7Ib.; Walker v. Shore, 19 Ves. 387; Tucker v. Bos well, 5 Beav. 607; Cassamaijor v. Pearson, 8 Clark & FV 69; Greisley v. Chesterfield, 13 Beav. 238. $ 303. Bishta to dividends.--According to the earlier decisions, e; tra dividends became a part of the principal fund, benefiting the remainder-man rather than the life tenant, the income only going to the latter;1 but the later decisions make such extra dividends a part cf the i...
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