A party lending a large sum over an estate possessed in fee simple stipulated to receive as part security, in addition to a bond and disposition in security in his favour, assignations to certain incumbrances of a prior date. The incumbrances were paid by the trustee and agent of the borrower, but it did not appear with whose money. In a question between a party holding an incumbrance intervening between the assigned incumbrances and the bond and disposition in security, Held that the presumption was, that the prior incumbrancers were paid with the money of the assignee ; and, as there was no evidence to the contrary, that (affirming the judgment of the Court of Session) the assignment conferred a preference over the intermediate incumbrancer
[1839] EngR 583, [1839] Macl and R 117, (1839) 9 ER 42
Commonlii
Scotland
Contract
Updated: 17 January 2022; Ref: scu.311115