WILLS.

Strict Limitations. (Full Form.)

In the mean time invest the same in the public funds.

survivor of them, or the executors or administrators of the survivor, and their and his assigns, do and shall as soon after my decease as conveniently may be, lay out and invest all such the said rest and residue of my personal estate in the purchase of lands and tenements to be situated in that part of Great Britain called England, and not elsewhere, whereof no more than one-fourth part in value shall be leasehold, nor more than onethird part thereof copyhold, free from incumbrances, (except fee-farm, chief rents, and other rents and services); and do and shall convey and settle, or cause and procure to be conveyed and settled, the lands and tenements so to be purchased, to such uses, upon such trusts, and for such ends, intents, and purposes, and with and subject to such powers and provisos as are hereinbefore limited, created, or expressed concerning the messuages, lands, tenements, and hereditaments hereinbefore devised and mentioned to be situated in the parish of aforesaid, or as

nearly thereto as the natures and qualities of the said hereditaments, the deaths of persons, and other circumstances will permit. AND in the mean time and until the said residuary part of my personal estate shall be laid out and invested in such purchase or purchases as aforesaid, IN TRUST from time to time to invest or lay out the same or such part or parts thereof as they or he, the said trustees or trustee, shall think fit, in the public stocks or funds of Great Britain, or on parliamentary or real securities at interest,

WILLS.

Strict

Limitations. (Full Form.)

with full power for them the said trustees, or trustee from time to time to sell out, call in, assign, transfer, alter, and vary, all or any of the said stocks, funds, and securities, and again to invest the money arising thereby, or coming to their or his hands by means thereof, in or upon new or other stocks, funds, or securities, when and as often as he or they shall see occasion or think fit. AND pay and apply all and every the interests, dividends, and annual proceeds of the said stocks, funds, and securities, to or for such person or persons who for the time being would be entitled to the rents and profits of the messuages, lands, or hereditaments, so hereby directed to be purchased therewith in case the same had actually been purchased and settled in the manner hereinbefore directed. AND as to all Bequest of resimy goods, chattels, and personal estate and effects personal estates. (not consisting of money or securities for money) not hereinbefore specifically bequeathed, I give and bequeath the same unto the said (trustees) their executors, administrators, and assigns, upon TRUST in the first place to pay and satisfy all the just debts and demands which there may be upon or owing by me at the time of my death (together with interest for such of the said debts as shall carry interest), or which may thereafter become due for funeral expenses, or otherwise howsoever; and, in the next place, in payment of the several pecuniary legacies or bequests given or bequeathed by this my will, or by any codicil or codicils thereto; and after full payment and satis

due of trustees'

WILLS.

Strict Limitations. (Full Form.)

faction thereof, then IN TRUST to lay out and in-
vest the surplus or residue thereof in the pur-
chase of three per cent. consolidated bank an-
nuities, in their or his names or name, and from
time to time apply the dividends, interest, and
annual income or proceeds thereof, as and when
the same shall be due and be paid, in the pur-
chase of the same or like annuities, during the
minority of my son and until he shall attain
the full age of twenty-one years, or (in case of
his decease before that age) until such time or
period as he would, if living, have attained that
age, and then IN TRUST to pay, assign, and transfer
the same unto him my said son
his exe-

cutors, administrators, and assigns, to and for his and their own use and benefit.

Acquittance of a debt.

The Gift of a Debt.

AND I give and bequeath, and acquit and release
unto the said
one of my executors herein-

after named, the debt or sum of £ owing to me
by him on his bond, and I desire the same to be
delivered up to him by the other of my executors
to be cancelled, provided there shall, without such
debt or sum, be sufficient of my personal estate to
pay
all my just debts and testamentary charges (1).

(1) Testator's forgiving a debt, and desiring the security to be delivered up, is good as against the executors, but not as against

Bequest of Furniture, Books, &c.

my said

AND I do hereby give and bequeath to wife for her own use and benefit, all my household furniture, plate, linen, china, liquors, provisions, and other household goods and furniture that may be in and about my dwelling-house at the time of my decease, save and except all books, papers, and manuscripts; it being my will and desire, and I do hereby direct, that such of the said books and papers as shall be necessary for settling or elucidating my affairs or concerns, shall be delivered to my executors hereinafter mentioned, and that such of the same books, papers, and manuscripts as shall not be necessary for that

WILLS.

Strict Limitations.

(Full Form.)

creditors; Sibthorp v. Moxom, 3 Atk. 581; Elliot v. Davenport, 2 Vern. 521; Toplis v. Butler, 1 P. Wms. 86, (n.); and although the debtor die before the testator, it does not lapse, but is a release of the debt.

Legacy given by a debtor to a creditor, if it exceed or be equal to the debt, is a satisfaction of the debt; Richardson v. Greese, 3 Atk. 68; Jeffs v. Wood, 2 P. Wms. 132; but if smaller, it shall not be taken as a satisfaction pro tanto, Cranmer's Ca. Salk. 508; Atkinson v. Webb, 2 Vern. 478; Eastwood r. Vinke, 2 P. Wms. 616, or be less beneficial to the creditor than the debt; Nicholls v. Judson, 2 Atk. 300; Compton v. Sall, 2 P. Wms. 555; or be, in any respect, of a different nature from the debts; Clarke v. Sevell, 3 Atk. 96; Haynes v. Micox, 1 Br. Ch. Ca. 129; the rule, though admitted, being disapproved; Barclay v. Wainwright, 3 Ves. 466; Carr v. Eastbrook, 3 ibid. 561; 12 Car. 2.

And so of an annuity; Goold v. Adams, Vern. and Scriv. 258. As to the bequest of a bond by one of joint obligees to the obligor; see Tyon v. Butler, 2 Price 74.

WILLS.

Strict

Limitations.

(Full Form.)

purpose, shall be delivered to my said son

to be preserved or destroyed, or otherwise disposed of, as he shall think fit. ALSO I give and bequeath to my said present wife

of £

the sum

for the purpose of providing mourning for herself and children; and also the sum of for mourning for her servants; also I give

£

to my said wife the sum of £

herself, and the sum of £

rings, of the value of £

for a ring for

for six mourning.

each, for any six

persons to whom she may think proper to give them; I give to each of my executors hereinfor their care

Other specific before named, the sum of £

bequests.

and trouble in the execution of this my will; and

also to each of them a ring of the value of

Bequest of the residue of personal estate to executors.

Bequest of Residue of a Testator's Property to be sold.

AND as to all the rest, residue, and remainder of my personal estate and effects whatsoever, whereof or whereto, I or any person or persons in trust for me, shall at the time of my decease be possessed or entitled, I do hereby give and bequeath the same unto

that they the said

, upon trust, , my said executors, or the survivors or survivor of them, or the executors