Trust Uses – Act of Parliament – Execution of the Trust. – Held where the money, personal estate, rents, and co., belonging to a trust estate, were specially directed by the truster’s will, to be laid out in the purchase of land in England, though by Act of Parliament, power had been given to appropriate certain accumulations of these rents, and co., in purchasing up debts affecting the Annandale estates in Scotland, to which the beneficiary had succeeded, yet that the trustees and executors under the will, were still entitled, on a favourable purchase of land offering in the counties named in the will, to recall the money so lent out, and to purchase the estates.
Citations:
[1755] UKHL 6 – Paton – 697
Links:
Jurisdiction:
Scotland
Trusts
Updated: 26 October 2022; Ref: scu.558224