INTERPRETATION OF WILL.

Wairarapa Daily Times, 8 September 1926, Page 6

INTERPRETATION OF WILL.

INTERESTING POINT.

(By Telegraph—Press Association.) AUCKLAND, Tuesday.

An interesting point was decided by the Chief .Justice- (the Hon. ’C. I’. SkerI'Ott) in an action concerning the will of John Herbertson, who died lust January, leaving an estate valued at Jive thousand pounds. The testator directed payment as a commission to each ■trustee « isum equal to fivei per- cent per annum on the gross capital value of the estate, and a similar percentage on the gross amount of income collected on the estate. Ho .also expressed a wish that itlio commission payable to two of the trustees, Edmund McNair and William McKenzie, should be paid over to the Mayoress for the War Memorial Library Committee, and in the -event of either failing to abide by this wish, his trusteeship was to cease. The Hon. C. P. Skerrett -said the language iiL the will was at the very best ambiguous as to the testator’s intention to impose an obligation upon each of two trustees. He decided that the trustees were not bound in law to pay the Mayoress for the War Memorial Library Committee any commission payable to McNair and McKenzie and that the trustees were bound in law to pay the commission specified to McNair and McKenzie. As to the question -whether, if cither the trustees .named did not pay the commission he received to thei Committee lie ceased his 'trusteeship, His Honour said it was clear the trustees were not entitled to recover commission until -the estate 'had been completely realised. After that their continuance in the office of trustees was quite) unimportant, and the answer to the question was therefore in the negative. No order was made as to costs.