Trust – lmmixing of Charity Funds – Increased Value of Estate – Proportional Division of Profits.
The funds of a specific mortification which were made over to a corporation for certain purposes about the year 1700 were immixed with other funds held by the same corporation in trust for the same object, and they were administered in common. The accounts were kept and payments were made in a mixed and unseparated form. In various other particulars the conditions of the bequest were not complied with, but not from any improper motive. Held (1) that no lapse of time could interfere to prevent the testator’s intention from receiving effect, and that the bequest fell to be administered upon that footing; (2) that the mortification fund had become so immixed with the other fund belonging to the corporation that it must be taken to have participated proportionally with them in the increase of value of the aggregate funds which had taken place since the date in question.
Judges:
Lord Hatherley, Lord Blackburn, and Lord Gordon
Citations:
[1879] UKHL 828, 16 SLR 828
Links:
Jurisdiction:
Scotland
Trusts
Updated: 05 July 2022; Ref: scu.637967
