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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 3, Page 346   View pdf image (33K)
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346 HIGH COURT OF CHANCERY.
case has since been decided, and although the validity of the
deed drawn in question was affirmed by a divided Court (8
Gill, 472), I consider that I am obeying the weight of judicial
authority in this State, in declaring the deeds in this case to
be valid instruments. This being so, I see no reason to deviate
from the conclusion to which I came when this case was before
me twelve months ago. That conclusion was, assuming the
deeds of trust to be good, " that the sum now remaining in the
hands of the trustees should be subject to the order and control
of John Hollins, his executors, administrators, and assigns,"
" and that, upon the death of Hollins, the complainant, his ad-
ministrator, might rightfully demand it of the trustees, who would
not be in any way responsible for its application by the admini-
strator." The deed in this case, after providing for the payment
of the expenses of the trust and a commission to the trustees,
and for those of the creditors who should comply with the con-
dition, by executing to the grantors " a full and final release
and discharge of and from all claims to the date of the convey-
ance, in full satisfaction and payment of all such claims of all
such creditors assenting as aforesaid, and executing such re-
leases as aforesaid, if the fund be sufficient for that purpose,
and the balance or surplus, if any may remain, shall and will
pay over to the said John Hollins, or to his legal representa-
tives, but ratably and proportionally, according to the amount
of the claims of each of the said creditors, if the fund be in-
sufficient to discharge the whole," contains this further pro-
vision, " that the proportion or share of such creditors, if any,
as neglect, refuse, or omit to execute such assent or release as
aforesaid, shall not be distributed or divided amongst the other
creditors, but shall be by the said trustees held subject to the
future order and control of the said John Hollins, his execu-
tors," &c.
It is clear, then, upon the terms of this deed, that the divi-
dends, which would otherwise have been distributed to those
creditors who failed or refused to sign the required release,
were not to be paid to the creditors who did release, in the
event of their not being paid in full, but those dividends were
to be paid to John Hollins, one of the grantors. The assent-

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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 3, Page 346   View pdf image (33K)
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