Ritchie and Another (Banks' Trustees) v. Banks'Trustees and Others [1906] ScotLR 44_121 (29 November 1906)

Ritchie and Another (Banks' Trustees) v. Banks'Trustees and Others [1906] ScotLR 44_121 (29 November 1906)

Vesting of William Addison Banks' share was postponed until the death or remarriage of the widow; William did not acquire a vested right. Frances Isobel Banks, as issue of William, is substituted to her father's share but vesting is postponed until the widow's death or remarriage, not to Frances' attainment of majority. Frances is entitled to the one-tenth share of income accruing after her father's death. The share of income does not accresce to surviving children nor to William's trustees.

Citation
[1906] ScotLR 44_121
Parties
First Parties: Charles Ritchie and another (Alexander Banks' trustees); Second Parties: Trustees of William Addison Banks; Third Parties: Tutors of Frances Isobel Banks
Jurisdiction
Scotland
Judgment Date
29 November 1906
Procedural Posture
Special Case / Judgment
Outcome
special case determined; interlocutor pronounced
Legal Topics
Vesting of Interests, Gift to Children, Survivorship Clause, Income Distribution
Succession Trusts Vesting of Interests Gift to Children Survivorship Clause Income Distribution

Case Brief

Summary, issues, holding and outcome

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Parties

Charles Ritchie and another (Alexander Banks' trustees)

First Parties

Trustees of William Addison Banks

Second Parties

Tutors of Frances Isobel Banks

Third Parties

Procedural Posture

Special Case / Judgment

Legal Issues

  1. 1 Did the share of residue destined to William Addison Banks vest in him?
  2. 2 Did the said share vest in Frances Isobel Banks on her father's death?
  3. 3 Is vesting postponed until the death or remarriage of the widow or until Frances attains majority?

Ratio Decidendi

Vesting of William Addison Banks' share was postponed until the death or remarriage of the widow; William did not acquire a vested right. Frances Isobel Banks, as issue of William, is substituted to her father's share but vesting is postponed until the widow's death or remarriage, not to Frances' attainment of majority. Frances is entitled to the one-tenth share of income accruing after her father's death. The share of income does not accresce to surviving children nor to William's trustees.

Court Disposition

special case determined; interlocutor pronounced

Orders

  • Answer first and second questions in the negative.
  • Answer branch (a) of third question in the affirmative; branches (b) and (c) in the negative.