OF SHARE IN REMAINING PARTNERSHIP ASSETS TO SURVIVING PARTNER. Agreement that said £41,000 should according to said valuations. That £26,850 was accord ingly net value of moiety of freeholds and leaseholds. Agreement that £26,850 should be deemed consideration for same. £5,000 for moiety of goodwill, ASSIGNMENT Mortgages thereon amounting to £37,300, which sum is part of the said sum of £35,350: AND WHEREAS it has been arranged and agreed between the parties hereto that the said sum of £41,000 paid or secured to be paid to the said A. B. as aforesaid as and for the share of the said X. B. deceased, in the property and assets of the said partnership pursuant to the aforesaid be apportioned award, shall be apportioned between the several items constituting the said assets and property upon the basis of the aforesaid valuation: AND WHEREAS the sum of £37,300, being the amount of the mortgage debts affecting the said freehold and leasehold premises, being deducted from the sum of £91,000 at which the said premises were valued as aforesaid, leaves the sum of £53,700 as the net value of the said premises, and the sum of £26,850 as the net value of one moiety thereof: AND WHEREAS it has accordingly been agreed that the said sum of £26,850, part of the said sum of £41,000 shall be deemed the purchase or consideration money for the moiety of the said X. B. deceased, in the said freehold and leasehold premises, subject to a moiety of the mortgage debts affecting the same, and that the sum of £5,000 (other part of the said sum of £41,000), shall be deemed the purchase or consideration money for the moiety of the said X. Y. deceased, in the goodwill of the said business, and that the sum of £100 (other part of the sum of £41,000) shall be deemed the purchase or consideration money for the moiety of the said X. Y. deceased, in the said gas shares, and that the sum of £225 (other part of the said sum of £41,000) shall be deemed the purchase or consideration money for the moiety of the said X. Y. deceased in the policies of assurance and rights and remainder comprised in the first schedule to these presents, and that the moiety of book remainder of the said sum of £41,000 shall be deemed the consideration money for the moiety of the said X. B. deceased in the mortgage debts mentioned in the second schedule hereto, and in the book debts, stock-in-trade and remaining assets of the said partnership, after allowing for the debts and liabilities of the said partnership other than the mortgage debts affecting the said freehold and leasehold premises: AND WHEREAS the ment of moiety moiety or other the part or share of the said X. B. deceased, of and leaseholds and in the said freehold and leasehold premises, has been conby five sepa- veyed and assigned by the said A. B. unto the said C. D., by five several indentures bearing even date with these presents, in £100 for moiety of gas shares, £225 for moiety of policies, of £41,000 for debts, plant, &c., after allowing for debts. Conveyance and assign of freeholds rate deeds. OF SHARE IN consideration of the several sums of money amounting together ASSIGNMENT to the sum of £26,850 in the same indentures respectively expressed to have been paid or satisfied by the said C. D. to the said A. B., the said sums of money being in fact part of the said sum of £41,000: AND WHEREAS the said Transfer of effects. That mortgage become vested debts had in surviving partner. That book debts had been gas shares have been transferred by the said A. B. unto the said C. D. by gas shares. a proper deed for that purpose bearing even date with these presents in consideration of the sum of £100 (a) (being other part of the said sum of £41,000): AND WHEREAS the barrels, Delivery of plant, stockcasks, waggons, carts, drays, horses, implements, plant, utensils, in-trade, and materials, stock of beer, ale, porter, malt, hops, and other stock-in- moveable trade, belonging to the said business, being in the nature of personal chattels, have been delivered and handed over to the said C.D.: AND WHEREAS the mortgage debts mentioned in the second schedule to these presents have become vested in the said C. D., as the survivor of the mortgagees therein named: AND WHEREAS the greater part of the book debts owing to the said late firm have been received by the said C. D., and the remainder thereof will or would be be received by him as surviving partner: NOW THIS INDEN- surviving TURE WITNESSETHI, that in consideration of the sums of partner. Witnessing £5,000 and £225 (other part of the said sum of £41,000 paid part. or secured to be paid as aforesaid) the said A. B. as beneficial Executrix of owner hereby assigns unto the said C. D., ALL THAT the moiety partner in or other the share and interest late of the said X. B. deceased, of £5,000 and of and in ALL THAT the goodwill of the said partnership £225 assigns business, and of and in all those policies of assurance, rights and things comprised in the first schedule to these presents, To HOLD the same unto the said C. D. absolutely: AND THIS INDENTURE ALSO WITNESSETH, that the said A. B. hereby acknowledges and declares that the said sum of £41,000, part whereof has been paid, and the residue whereof is secured to acknowledges be paid as aforesaid, is accepted by her, the said A. B., in full satisfaction of the share of the said X. B. deceased, in all the deceased consideration moiety of partner. receipt of £41,000 in full satisfaction of ceased partner share of de in assets, property and assets of the said partnership, and all claims and demands relating thereto : AND the said A. B. hereby covenants and covenants with the said C. D. that she the said A. B., her executors, for further administrators, or assigns, will from time to time, and at all (a) This transfer deed should be stamped with an ad valorem stamp on £100. assurance. OF SHARE IN REMAINING PARTNERSHIP ASSETS TO SURVIVING PARTNER. ASSIGNMENT times, upon the request and at the cost of the said C. D., his executors, administrators, or assigns, make, do, and execute all such further acts, deeds, and things, for effectually vesting in him or them all the property and assets of the said late partnership, and enabling him or them to receive the same as by him or them shall be reasonably required (a). IN WITNESS, &c. THE FIRST SCHEDULE ABOVE REFERRED to. (Two Policies of life assurance and certain exclusive rights of supplying public houses with beer, &c.) THE SECOND SCHEDULE ABOVE REFERRED to. The principal sum of £ secured by an indenture dated, &c., and made, &c. The principal sum of £- secured by, &c. secured by, &c. All the above deeds provide that the moneys thereby secured shall be payable to the survivor of the mortgagees, but the said moneys in fact form part of the partnership assets. (a) It is considered that the stamps on this deed should be an ad valorem duty at 10s. per £100 on £5,225, the consideration for the moiety of the goodwill and policies, &c., and a common deed stamp (10s.). No. XIV. NOTICE by one PARTNER to another, to determine a TO DETERMINE day of and made PURSUANT TO THE POWER for this purpose contained in certain AS WITNESS my hand this day of A. B. (partner). PARTNERSHIP. To C. D. (other partner). No. XV. NOTICE of DISSOLUTION of PARTNERSHIP to be inserted OF DISSOLUTION in the London Gazette. NOTICE IS HEREBY GIVEN, that the partnership which has for at in the trade or business of AS WITNESS our hands. was this A. B. OF PARTNER- VOL. II. 3 c 754 POWERS OF ATTORNEY. Definition of a power of its liability to revocation. A POWER of attorney is an authority given in due attorney and form of law by one person to another to act for him. By common law, a power of attorney is revocable by the grantor at any time, unless given for a valuable consideration (a), and it determines on his death (¿). Relaxation of But this rule has been relaxed by recent statutes. Thus by 22 & 23 Vict. c. 35, sect. 23, it is provided as follows: rule by statute. Trustees, &c., making payments, &c., under power of attorney, without notice of revocation by death or otherwise, indemnified. No trustee, executor, or administrator making any payment, or doing any act bonâ fide under or in pursuance of any power of attorney, shall be liable for the moneys. so paid, or the acts so done, by reason that the person who gave the power of attorney was dead at the time of such payment or act, or had done some act to avoid the power, provided that the fact of the death, or of the doing of such act as last aforesaid, at the time of such payment or act bonâ fide done as aforesaid by such trustee, executor, or administrator, was not known to him: provided always that nothing herein contained shall in any manner affect or prejudice the right of any person entitled to the money against the person to whom such payment shall have been made, but that such person so entitled shall have the same remedy against such person to whom such payment shall be made, as he would have had against the trustee, executor, or administrator if the money had not been paid away under such power of attorney. (a) Walsh v. Whitcomb, 2 Esp. Ca. 565; Smart v. Sandars, 5 Com. Bench, 916. (b) Watson v. King, 4 Chamb. 272; Wallace v. Cook, 5 Esp. Ca. 117. |