Subject_1 HERITABLE and MOVEABLE. Subject_2 SECT. XIII.
Effect of the death of debtor or creditor before the term of payment, in cases of bonds heritable by clause of infeftment.
Nasmith v. Lord Hay
Date: 7 February 1615 Case No. No 77.
An heritable bond by a clause obliging the debtor to infeft his creditor in case of not payment at the term, found to belong to the creditor's executors, he dying before the term of payment.
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In an action pursued by Henry Nasmith heir to John Nasmith contra my Lord Hay, to hear and see a bond of 24,000 merks made to the said John by the said Lord Hay, which was registrated in his own time, to be transferred, the Lords fand that the bond could not fall to the heir, because before the term of payment, which was Whitsunday 1614. John Nasmith died; and that notwithstanding the said bond bore an heritable clause, viz. in case of payment to infeft the said John in an annualrent of 24,000 merks.
