A Handy book On Property Law : in a Series of Letters
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Where money to any considerable amount is settled, a power should be reserved of laying it out in land to be re-sold when convenient, and in the mean time to be treated as money.
In money settlements, generally, as I have already mentionexl, and sometimes even in settlements of real 156 ILLUSORY APPOINTMENTS.
estate, a power is reserved to the parent to appoint the property to all or such of the children as he shall think fit. If the power is only to appoint the proportions amongst the children..., he cannot exclude any ; every one must have a share ; but he may now give to any a share merely nominal.
*The Act for which I am responsible, which made what were termed illusory appointments, that is, ap- pointments of nominal sums, good in equity, as they always were at law, proceeded upon this principle, that as the poWer required every one to have a share, the donee of the power could not properly exclude any, although he might give what he pleased — Is., for ex- ample, to one or more. Of course, where the power is to appoint to any exclusively, he may give all to one ; as in substance he may under the former power.
What to read after A Handy book On Property Law : in a Series of Letters?
You can find similar books in the "Read Also" column, or choose other free books by Edward Burtenshaw Sugden to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Where money to any considerable amount is settled, a power should be reserved of laying it out in land to be re-sold when convenient, and in the mean time to be treated as money.
In money settlements, generally, as I have already mentionexl, and sometimes even in settlements of real 156 ILLUSORY APPOINTMENTS.
estate, a power is reserved to the parent to appoint the property to all or such of the children as he shall think fit. If the power is only to appoint the proportions amongst the children..., he cannot exclude any ; every one must have a share ; but he may now give to any a share merely nominal.
*The Act for which I am responsible, which made what were termed illusory appointments, that is, ap- pointments of nominal sums, good in equity, as they always were at law, proceeded upon this principle, that as the poWer required every one to have a share, the donee of the power could not properly exclude any, although he might give what he pleased — Is., for ex- ample, to one or more. Of course, where the power is to appoint to any exclusively, he may give all to one ; as in substance he may under the former power.
What to read after A Handy book On Property Law : in a Series of Letters?
You can find similar books in the "Read Also" column, or choose other free books by Edward Burtenshaw Sugden to read onlineMoreLess
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