Duke of Norfolk v. Trustees of The York Buildings Company
Date: 14 February 1752 Case No. No. 14.
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The York Buildings Company having purchased from the public several of the forfeited estates in Scotland, granted bonds of annuities, during the lives of certain persons mentioned in the bonds. The annuities having run in arrear, the Company entered into an indenture with the annuitants, binding themselves to obtain infeftments on the estates, and then to grant infeftments to certain persons as trustees for security of the annuitants, whose names were contained in a schedule annexed to the indenture. The Company was accordingly infeft, and the Trustees in consequence; but neither the indenture, schedule, nor disposition to the Trustees, mentioned the original bonds, nor the lives, inserted in the bonds. Several of the annuitants disponed their annuities, and, from ignorance of the law of Scotland, the purchasers were in use to give up the old bonds to the Company, and obtain from them new bonds, in which sometimes the names of the lives were changed. The Duke of Norfolk, a creditor of the Company, adjudged the estates, and being infeft, brought a reduction and improbation of the rights granted by the Company to the Trustees. In this process he insisted, that none of the new bonds could be entitled to the security of the Trustees' infeftment, not being mentioned in the schedule; and that the destroying the old bonds was a cancelling of the security; besides, that in several of the new bonds the alteration of the lives made a total alteration of the annuity. The Court found, That the annuitants, whose names were not mentioned in the schedule annexed to the disposition to the Trustees, or who had delivered up the old bonds, and taken new bonds, posterior to the Trustee's infeftment, had no real right upon the lands,
