Subject_1 DECISIONS of the LORDS OF COUNCIL AND SESSION, reported by SIR JOHN LAUDER OF FOUNTAINHALL.
Ranking of Hay of Monkton's Creditors
Date: 26 February 1695
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The Lords advised the probation led in the sale of Hay of Monkton's lands; and found, by the writs and diligences produced, compared with the proven rental of the lands, extending to 2800 merks, (all deductions allowed,) that they sufficiently instructed he was bankrupt; and valued the house, yards, and parks, at 300 merks yearly, and the lands, including the coal thereon, (which lately paid £250 sterling a-year,) to 20 years' purchase. And, in respect of the Lady's consent to the sale (which she was not obliged to do, by the Act of Parliament, unless she pleased,) of her liferent infeftment of £100 sterling, out of these lands, which was preferable to all the creditors, save those named in her husband's disposition, and with whom he was burdened; they valued it to seven years' purchase, both in regard it was an annuity, free of all public burdens, and she was a young woman, within thirty years of age. And, seeing there was no right, nor standing tack of the teinds, they modified the kindly right thereof to five years' purchase; seeing heritors, by law, can force the titular to sell them at nine; and allowed the Lady 1200 merks for her bygones, as a present subsistence, seeing it would take some time ere the roup were perfected, and before the price of her jointure would fall due; and ordained the buyer to be liable to her for the annualrent of the price, from the term it fell due. Then the Lords nominated the six adjacent parish kirks, and the citation for the creditors, with the time of the roup, and two of their number to be overseers and directors of it.
