Gee v Liddell: ChD 1913

A co-mortgagor has an ‘interest in [and] a charge upon the estate of the principal debtor’. An equity of exoneration was applied as between brothers.
An equity of exoneration operates in the nature of ‘a charge upon the estate of the principal debtor by way of indemnity for the purpose of enforcing against that estate the right which [the beneficiary] has, as between [the beneficiary] and the principal debtor, to have that estate resorted to first for the payment of the debt’
References: [1913] 2 Ch 62
Judges: Warrington J
Jurisdiction: England and Wales
This case is cited by:

  • Cited – Day v Shaw and Another ChD 17-Jan-2014
    Mr and Mrs Shaw had granted a second charge over their jointly-owned matrimonial home to secure the personal guarantee given by their daughter and by Mr Shaw in respect of a bank loan to a company (Avon). Their daughter and Mr Shaw were the . .
    (, [2014] EWHC 36 (Ch))
  • Cited – Armstrong v Onyearu and Another CA 11-Apr-2017
    Exoneration of partner’s equity on insolvency
    The court considered the equity of exoneration, where property jointly owned by A and B is charged to secure the debts of B only, A is or may be entitled to a charge over B’s share of the property to the extent that B’s debts are paid out of A’s . .
    (, [2017] EWCA Civ 268, [2017] WLR(D) 271,, )

These lists may be incomplete.
Last Update: 27 November 2020; Ref: scu.567251