Where a bond is forfeited in the life-time of the testator, the penalty is the legal debt, and on the issue what is due must cover so much assets, but on a bond where the day of payment is not come, to be assets only can lie covered for the sum in the condition. Where an executrix pleads the penalties of three bonds, and the jury by special verdict find assets in one entire sum, if the Court are of opinion that the penalties of two of the bonds are to be considered as the debt due, but that the third shall cover no more than the sum really due upon it, they may deduct such penalties and sum due out of the assets found, and give judgment for the plaintiffs to recover the rest.
Citations:
[1795] EngR 3335, (1795) 2 Str 1028, (1795) 93 ER 1012 (B)
Links:
Citing:
See Also – Morice v The Bank of England 1732
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See Also – The Bank of England v Morice, Executrix of Humphrey Morice Deceased 1734
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See Also – The Bank of England v Katherine Morice, Widow, And Others PC 24-May-1737
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See Also – The Bank of England v Katherine Morice, Widow, And Others PC 24-May-1737
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Lists of cited by and citing cases may be incomplete.
Contract
Updated: 02 May 2022; Ref: scu.355680