Trustees of Pathhead Church, Minuters [1919] ScotLR 82 (28 November 1919)

Trustees of Pathhead Church, Minuters [1919] ScotLR 82 (28 November 1919)

The Court approved the sale and sanctioned the change of security, finding the transaction advantageous as it increased the income available for the minister's stipend and the proposed investment was a suitable trust security.

Citation
[1919] ScotLR 82
Parties
Minuters/applicants: Trustees of Pathhead Church; Petitioners (original Proceeding): Daniel Fraser and others; Purchasers: D. S. Honeyman & Son
Jurisdiction
Scotland
Judgment Date
28 November 1919
Procedural Posture
Petition/minute in Existing Cause / Application for Approval of Sale and Investment
Outcome
Application granted
Legal Topics
Sale of Trust Property, Investment of Trust Proceeds, Church Endowments, Change of Security
Trusts and Trustees Ecclesiastical Law Property Law Sale of Trust Property Investment of Trust Proceeds Church Endowments Change of Security

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Parties

Trustees of Pathhead Church

Minuters/applicants

Daniel Fraser and others

Petitioners (original Proceeding)

D. S. Honeyman & Son

Purchasers

Procedural Posture

Petition/minute in Existing Cause / Application for Approval of Sale and Investment

Legal Issues

  1. 1 Whether the trustees may sell church endowment land and invest proceeds in government annuities
  2. 2 Whether the proposed investment constitutes a suitable trust security

Ratio Decidendi

The Court approved the sale and sanctioned the change of security, finding the transaction advantageous as it increased the income available for the minister's stipend and the proposed investment was a suitable trust security.

Court Disposition

Application granted

Orders

  • Approval of sale of the lands to D. S. Honeyman & Son for £2000
  • Sanction of investment of proceeds in 2.5% Government annuities or other suitable trust securities