Jones on Prescription

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General Books, 2009 - Law - 260 pages
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1878. Excerpt: ... is no adverse title (a). It has hence heen argued that as the person into whose hands the estate is followed is also by construction of law a trustee, the cestui que trust is entitled to the benefit of the rule, and is not precluded by mere lapse of time from establishing his claim. But the authorities shew that this doctrine cannot be maintained." (b) This present section effectually puts a stop to any question on that point. "The rule that the Statute of Limitations does not bar a trust estate," says Lord Hardwicke, "holds only as between cestui que trust and trustee, not as between cestui que trust and trustee on the one side and strangers on the other, for that would make the Statute of no force at all, because there is hardly any estate of consequence without such trust, and so the Act would never take place. Therefore, where a cestui que trust and a trustee are both out of possession for the time limited, the party in possession has a good bar against them both." (c) Lord Manners says, in Pentland v. Stokes, 2 B. & B. 75, "If trustees neglect their duty, and suffer an adverse possession of twenty years to be held, I apprehend that the Statute of Limitations is a bar to the cestui que trust." Acknowledgment of a Debt by a Trustee.--As a general rule, the acknowledgment of a debt by a trustee will be binding on the eestuis que trustent. Toft v. Stephenson, 1 DeG. M. & G. 41. A security by way of a trust for sale is to be regarded as an ordinary mortgage in reference to the Statute of Limitations. Locking v. Parker, L. K. 8 Chy. 30; Yardley v. Holland, L. R. 20 Eq. 428. (a) Clialmert v. Bradley, 1 J. & W. 67; Bennett v. Colley, 2 M. & K. 232; Llewellyn v. Mackworth, Barn. 449; Wilson v. Moore, 1 M. & K. 146. (6) Lewin on Trusts, 704, 6th Edit.; Towmhen...

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