Penalty and termly failzies found not preferable in a ranking.
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Where a creditor was infeft upon an heritable bond for security of his annualrents, which contained this usual clause of reversion, “Redeemable always and under reversion, by payment of the principal sum and annualrents, with the penalty and termly failzies if incurred, and expenses of infeftment to follow hereupon,” it was found in a ranking for the price, that the creditor in faid bond was only preferable for his principal sum and annualrents, but not for his penalty or termly failzies, &c.
N. B.—Though the annulrenter has no preference for the penalty, termly failzies, or even expense of his infeftment, not being infeft for security of any of these, yet by the quality of the clause of reversion, he cannot be obliged to denude or convey till he be satisfied of all; in which if he persist, the only remedy is consignation.
Fol. Dic. v. 4. p. 56. Kilkerran, (Penalty.) No 1. p. 375.
