284 CHAP. XVII. but that thenceforth they shall be wholly liable and Release of debts. subject to the full amount of the debts,-that the creditors, intending to take the benefit of the trust-deed, shall subscribe a declaration engaging to accept the composition, and to execute a letter of license. The deed lastly witnesses that, in consideration of the premises, the several persons parties to the deed release the creditor from "all actions, suits, bills, bonds, "writings, obligations, debts, &c." which they or any of them have against the said debtor, his heirs, executors, &c., or his estate or effects, which are due and owing to them or any of them from the said debtor, and all interest, &c. other than and except the security effected, or intended to be effected," by means of these presents, &c., " and the trusts hereby declared as aforesaid." G The letter of license, with covenants to execute a release, may either form part of the general trust-deed or may be by a separate deed, according as may appear more suitable to the parties. If the affairs of the debtor be very complicated, and his property extensive, and variously charged by mortgages, annuities, judgments, &c., the transaction will be most commodiously arranged by three deeds, the first being a simple conveyance to trustees, in trust to sell, for the purposes to be declared by another deed,-the second deed will declare those purposes and trusts, and the third will be a letter of license, with covenants to execute a release. Besides the general provisions stated above, as being proper to be contained in a deed of this description, there may be, of course, many others, the nature of which will depend on the situation of the parties and the peculiar circumstances of the case, and these must, of course, be left to the discretion of the draftsman who no dividend shall be pay for sale may may be employed on the particular occasion. The two CHAP. XVII. following may be noticed as occurring occasionally in composition-deeds, namely—a proviso that no creditor Proviso that shall be entitled to a dividend unless he make affidavit of his debt before a Master in Chancery, or, being a able without an affidavit, &c. Quaker, shall make solemn affirmation thereof, such affidavit or affirmation to be left with the trustees, on or before the day appointed for payment of the dividend.— The other point, to which reference is here made, is a pro- That trustees viso on a deed of sale, that the trustees may act by agent: appoint an minute provisions of this kind are, however, necessary only agent. in cases of considerable importance and delicacy as in the case of a nobleman's affairs, in which it may be necessary that very large powers should be given, and that there should be a very minute inquiry into the validity of the several claims, and that there should be clear evidence of fraud on the part of the creditors, where these embrace long unsettled tradesmen's bills, or running transactions with money-lenders, brokers, &c. FINIS. INDEX (TO THE FORMS.) ADMINISTRATION: Recital of limited letters of, 34. of letters of de bonis non, ib. APPOINTMENT. See Receiver. ASSIGNMENT: Of several terms to attend; recitals in, 180. BEQUEST: Of pictures, books, furniture, &c. as heir-looms, 121. Of residue and appointment of executors, 122. By codicil, 123. BILL: For the naturalization of an alien, 629. CODICIL: Bequest by, 123. COVENANTS: In mortgage for title (short form), 57, Commencement of to purchaser for persons entitled to shares When one of the grantors is tenant for life, and the others For title, alteration in, where the estate is limited to uses, &c. upon trusts, 60. when the estate is limited to uses or To obtain conveyance from infant trustee at 21, ib. To allow bills of exchange to be drawn and to accept and To pay off a mortgage-debt affecting an estate settled by the To procure release of a portion when an infant trustee shall To pay accepted bills of exchange when due, 63. For title to personalty, ib. For production of title-deeds where held by vendor (short By greatest purchaser at an auction, 66. DECLARATION: Of uses, commencement of, where the conveyance is both by DECLARATION continued. Of uses or trust, commencement of, ib. That clauses for appointment, indemnity, &c. of trustees shall In wills, of the trusts of a term, 107. Of the trusts of leasehold, 120. As to the power given to trustees for the payment of debts DEVISE: General, to trustees for a term, 106. Of copyhold upon the same trusts as freehold, 118. Of leasehold upon trusts after declared, 119. DIRECTION: In articles for clauses for the appointment and indemnity of ESTATE BILL: Petition for, 260. Judges' report thereon, 264. EXCHANGE: Proviso for re-entry in case of eviction, 54. EXECUTORS: Appointment of, and residuary bequest, 122. FINE: Recital of deed and fine whereby estates stand limited, 35. HABENDUM: Of personalty with short power of attorney, 42. INFANT TRUSTEE: Recital of a trustee, being an infant, with covenant to obtain Covenant to obtain conveyance from him at twenty-one, 60. Covenant to procure release of a portion when he shall attain JUDGES' REPORT: On petition for an estate bill, 264. LEASES: Proviso that lessees shall be all answerable to the lessor for LIMITATIONS: In strict settlement, 80. Of rent-charge, 275. MORTGAGE: Covenants for title (short form), 57. |