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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 4, Page 489   View pdf image (33K)
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MAYO VS. BLAND. 489
which Captain Mayo was to pay interest was ascertained to be
$2702 10, and the half yearly interest, being $81 06, he was
to pay on the 16th of May and November, of each year, so long
as Mrs. Bland should live.
By this statement it appeared that the books in which Mrs.
Bland had a life-estate, produced $1270. The cash on hand,
and arrears of salary due deceased amounted to $851 50, and
that the carriage and horses produced $600, amounting in all
to $2722 10, from which there was deducted a fee of $20,
leaving a sum of $2702 10, as the amount upon which interest
was to be paid.
I do not think that by any fair construction of this agreement
it can be maintained that Captain Mayo intended to run the risk
of the inadequacy of the Virginia fund, to pay the debts of the
deceased. He could not then, on the 4th of March, 1847, have
known the actual condition of the estate, and it would require
very plain language to induce any court to believe that under
these circumstances he designed assuming upon himself the
whole risk of a deficiency.
Of the sum upon which he agreed to pay interest during the life
of Mrs. Bland, eight hundred and fifty-one dollars, being nearly
one-third of the whole amount, consisted of cash and arrears of
salary, in regard to which no possible doubt could be entertained
that it was responsible for the payments of debts, there being no
pretence that the bequest of it was specific, whatever may be
thought of the bequest of the books and other articles of per-
sonal property sold. The plain sense of the agreement is, that
the property bequeathed Mrs. Bland should be sold and applied
in anticipation of the receipt of the funds expected from Vir-
ginia, and as it was supposed those funds would be sufficient to
pay the claims of creditors, it was agreed that the executor
should pay Mrs. Bland interest upon so much of her money as
was taken to pay creditors, and be himself reimbursed out of
the Virginia fund when received. If Mayo intended in any
event to assume to pay Mrs. Bland interest on the amount of
sales, &c., and incur the risk of the sufficiency of the Virginia
fund, why was it stipulated that he should be substituted as
VOL. iv,—41

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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 4, Page 489   View pdf image (33K)
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