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Release · from Creditors to a Bankrupt, he paying
the general Benefit of his Creditors.
To all, &c., we, who have hereunto set our hands and seals, (creditors of A. B., late of, &c., who have severally proved the debts under the fiat in bank. ruptcy hereinafter recited,) send greeting. Whereas, &c. [Recite the fiat, the finding, and that the bankrupt has passed his last examination, and state the offer of a composition, and its acceptance by the creditors.] Now, therefore, know ye, that for the consideration aforesaid, each of us, the said several per: sons who have hereunto set our hands and seals, creditors of the said A. B. as aforesaid, for himself and herself, his and her heirs, executors, and copartners, doth by these presents remise, release, and for ever discharge the said A. B., his heirs, executors, and administrators, of and from oursaid several debts, and all and all manner of action and actions, &c., which we, and each and every of us, the said creditors, now have or hath, or which each and every of our heirs, executors, or administrators respectively, hereafter may, can, or ought to have, claim, or demand, against the said A. B., his heirs, executors, or administrators, for or by reason of the said several and respective debts to us severally due and owing, or for or by reason of any other matter, cause, or thing whatsoever, from the beginning of the world unto the day of the date of these presents. In witness, &c.
Release of an Equity of Redemption of a Mortgage
in Fee to the Mortgagee as a Purchaser by In-
By section 133 of the 6th Geo. IV. c. 16, the Lord Chancellor is empowered to supersede any fiat after a composition has been accepted by nine-tenths in number and value of the creditors assembled at two different meetings after the bankrupt's last examination.
named (mortgagor) of the one part, and the withindamed (mortgagee) of the other part. Whereas the within-mentioned mortgage debt or sum of L. was not paid on the day within-mentioned for payment thereof, and the same sum is still due and owing to the said [mortgagee,] on the within-written security, but all interest for the same hath been duly paid up to the day of the date hereof, as he, the said [mortgagce,] doth hereby acknowledge, and whereas the said (mortgagee) hath agreed with the said (mortgagor) for the absolute purchase and release of the equity of redemption of and in the within-mentioned or described. Now, this indenture witnesseth, that, in pursuance of the said agreement in this behalf, and in consideration of the sum of L. to the said (mortgagor) in hand paid by the said (mortgagee,) at or before the execution of these presents, the receipt of which said sum of L. , and that the same is in full, for the purchase and release of the equity of redemption of and in the said messuage, &c., the said [mortgagee] doth Operative hereby acknowledge, &c., he, the said (mortgagor,) part. hath granted, bargained, sold, and released, and by these presents doth, &c., unto the said (mortgagee) and his heirs, all, &c., comprised in the within-written indenture, and all the estate, right, title, in. terest, and equity of redemption, which he, the said (mortgagor,) now hath or may claim, either at law or in equity, of, in, or to the said messuage, hereditaments, and premises comprised in the within-writ. ten indenture, and every part thereof; To have and Habendum. to hold the said messuages, &c., hereby released, or intended so to be, unto and to the use of the said (mortgagee) and his heirs, absolutely freed and discharged of and from all right of equity of redemption therein. [Add covenants from mortgagor that Covenants. he had done no act to incumber, and for further as. surance.] In witness, &c.k
* The amount due on the mortgage must be estimated as
Release to an Executor and Trustee under a Will,
by the Person entitled to receive the residue of the
Effects, on his coming of Age. Parties.
This indenture, made the day of, &c., between A. D., of, &c., son and heir of C. D., late of, &c., deceased, of the one part; and G. H., surviving executor named in and appointed by the last will and testament of the said C. D., deceased, of the other part. [Recite the will and the death of the testator, and the probate, and that the executor undertook the
burthen and execution of the trusts of the same. Recital of an And whereas the said Ġ. H. hath, since the said account A. D. attained his age of 21 years, come to an ac
count with him touching the several sums of money
of such account as aforesaid, and hath also delivered up unto the said A. D. all the aforesaid receipts, vouchers, and documents, as the said A. D. doth hereby acknowledge; and whereas the said A. D. hath also, in further pursuance of the said recited agreement, and at the request of the said A. D., transferred unto hin the aforesaid sum of L. 3 per cent. consolidated bank annuities, and the same have been duly accepted by the said A. D., and are now standing in his name in the books of the Governor and Company of the Bank of England. Now, Witnessing this indenture witnesseth, that, in pursuance of the part. said recited agreement in this behalf, and in consi. deration of the premises, he, the said A. D., hath re. Release. mised, released, exonerated, discharged, and for ever quitted claim, and by these presents doth remise, release, exonerate, discharge, and for ever quit claim, unto the said G. H., his heirs, executors, and admi. nistrators, all and all manner of actions and suits, cause and causes of action, and suit debts, dues, accounts, sum or sums of money, claims and demands whatsoever, both at law and in equity, for touching or concerning the personal estate and effects of the said C. D., deceased, or any part thereof, or for touching or concerning any other cause or thing whatsoever, relating to the matters aforesaid, or any of them, in anywise howsoever. [Add a clause of in- Indemnity demnity similar to the one in p. 236.] In witness, &c. clause to
*OBSERVATIONS ON RELEASES.
The several forms of releases given above are chiefly applicable to the release of rights and personal demands. Releases of interests in land, so far as they operate as conveyances, have been treated of elsewhere.
Before preparing a release, it should be clearly ascertained whether it is the intention of the parties that it should operate as a general release, or be
confined to some particular transaction or class of transactions. In the former case, it is better not to notice, either by way of recital or otherwise, any one particular debt or transaction, as such recitals have sometimest been held to limit and qualify a release which in other respects purported to be general. If any recital is introduced, it should be simply with the view of showing the agreement or other inducement upon which the release is founded; but where, on the other hand, the release is intended to have but a limited operation, either as being confined to some particular rights or demands, or to those rights of obligations which either party may have or be liable to jointly with any others, or in any particular character, as executor, trustee, &c., great care should be taken to confine the release to such limited object. This is best done by fully reciting the agreement upon which the instrument is founded, and distinctly stating the particular transactions to which it is intended to be confined. With this view, it will sometimes be found most convenient (especially where the excepted transactions are fewer in number than those to which the release is intended to apply) to let the instrument be made general in its terms, introducing an exception or proviso (to which effect will be given") that the release is not intended to apply to such and such transactions, or to such rights as the releasor may have jointly with any others, or which he may have against the releasee jointly with any third parties, or in any particular character.
The propriety of this precaution will be obvious, when it is considered that a release by one of several creditors," or other persons jointly entitled to any debt or right, operates as a release by all, and that a