The defendants and other companies were formerly obliged to keep a stock of corn for the supply of the market, and to sell it when the Lord Mayor directed, and he, on some occasions, fixed the price. In 1646 an estate was conveyed to trustees in trust to pay out of the rents certain annual sums. One of the sums was to be paid to the defendants for the increase of the stock of corn for the service of the market. Some of the other sums were given for clearly charitable purposes.
Held: that the gift to the defendants was not a charity,, and that the purpose of it having failed, they were entitled to apply it to their corporate purposes period
[1832] EngR 828, (1832) 5 Sim 478, (1832) 58 ER 417
Commonlii
England and Wales
Updated: 22 October 2021; Ref: scu.319775
