Into; see Shaw v. Foster, L. R. 5 H. L. 321, 333, 338, 349, 356; Lysaght v. Edwards, 2 Ch. D. 499; below, Chap. XI. Sec. 1. And rights given by statute must be recognised and enforced by all Courts, whether of legal or equitable jurisdiction, even though they may confer or create interests unknown or foreign to the previous law; see Lord Advocate v. Moray, 1905, A. C. 531.

(m) Above, p. 301.

(n) See above, p. 267. For exceptions see stats. 45 & 46 Vict. c. 38, ss. 10, 16; 53 & 54 Vict, c. 69. s. 9; Housing of the Working Classes Act, 1890 (stat. 53 & 54 Vict. c. 70), s. 74.

(o) Re Wilton's Settled Estates, 1907, 1 Ch. 50, 55, in which rase, however, a private Act of Parliament had been obtained confirming a contract by a tenant for life to sell at a valuation, and it was held that by virtue of the private Act the sale was made valid and binding on all parties interested. See above, p. 270.

(p) Stat. 45 & 46 Vict. c. 38, s. 4(1).

(q) Sect. 53. As to the duties of trustees for sale, see above, pp. 263 sq. As the purchase money may, at the direction of the tenant for life, be invested in real securities, he may well agree, on exercising his statutory power of sale, to leave a proper proportion of the purchase money on mortgage; see above, p. 367, and n. (c): but in such case the trustees of the settlement are not bound to make the investment at the direction of the tenant for life, unless they are satisfied that that direction has been given upon a proper investigation of the title and a proper report as to the value of the proposed security: Re Hotham, 1902, 2 Ch. 575.

Stipulation that the purchaser shall pay the vendor's costs of the sale.

(r) Sect. 54, also extending, in favour of a person dealing in good faith with the tenant for life, to the case of an exchange, partition, lease, mortgage or charge.

(s) Hurrell v. Littlejohn, 1904, 1 Ch. 689.

(t) See Sutherland v. Sutherland, 1893, 3 Ch. 169; Chandler v. Bradley, 1897, 1 Ch. 315; Re Handman and Wilcox's Contract, 1902, 1 Ch. 599.

(u) Chandler v. Bradley, ubi sup.

(x) See Re Smith's Settled Estates, 1891, 3 Ch. 65; Smith v. Lancaster, 1894, 3 Ch. 439.

(y) See Cardigan v. Curzon-Howe. 41 Ch. D. 375; Re Sir Robert Peel's Settled Estates, 1910, 1 Ch. 389.

(z) Above, p. 302.

(a) Re Handyman and Wilcox's Contract, 1902, 1 Ch. 599.

(b) See Chitty, J., Cardigan v. Curzon-Howe, 30 Ch. D. 531, 540; Be Norton and Las Casas' Contract, 1909, 2 Ch. 59. In Re Sandman and Wilcox's Contract, 1902, 1 Ch. 599, it was treated as an open question whether a lease granted under the Acts by a tenant for life to one who knew that the best rent was not reserved was void or voidable: but it is submitted that this view was mistaken, the rule as to the execution of statutory as well as express powers being that, in default of compliance with the terms of a power, any purported exercise thereof is void; see above, pp. 293, 299.

Where the title depends on the exercise by a mortgagee of a power of sale contained or implied in the mortgage deed, the purchaser's counsel must satisfy himself that the power of sale has become so exercisable that a purchaser thereunder will obtain the estate assured free from all equity of redemption or right to set aside the sale. Under the conveyancing practice prior to the year 1882, when powers of sale were usually conferred by the express terms of mortgage deeds, the common form was first to give the mortgagee a general authority to sell at any time after the payment of the principal money secured had become due (c), and then to provide, particularly, that the power of sale should not be executed unless and until default should have been made in payment of the money secured at the appointed time, and the mortgagee should have given notice to pay off, and default should have been made in payment for a specified time (d) after such notice, or unless or until some interest should have fallen into arrear for a given period (e). But in every well-drawn mortgage deed an elaborate clause was inserted exonerating a purchaser from the necessity of seeing or inquiring whether any of the particular cases had arisen in which a sale was authorised, and protecting him against any impropriety or irregularity in the sale (f).

Title depending on the exercise of a mortgagee's power of sale.

(c) Usually six months after the date of the mortgage.

(d) Usually .six months. (e) Usually three months.

(f) Davidson, Prec, Conv. vol. ii. pi. ii. 66 sq. 79, 308 - 310, 4th ed. The form there given provides that, upon any pale pur-porting to be made in pursuance of the mortgagee's power of sale, the purchaser shall not he hound to see or inquire whether any of the particular cases has happened, in which a sale is authorised, or whether default has been made in payment of any principal or interest secured by the mortgage deed at the time appointed for payment thereof, or whether any money remains on on security of the mortgage deed, or as to the necessity or expediency of the stipulations subject to which the sale shall have been made, or otherwise as to the propriety or regularity of the sale; and that, notwithstanding any impropriety or irregularity whatsoever in the sale, the same shall, as regards the safety and protection of the purchaser, be deemed to be within the power and be valid and effectual accordingly, and the remedy of the mortgagor in respect of any breach of the provisions of the mortgage deed conferring the power of sale or any impropriety or irregularity whatsoever in the sale shall be in damages only. Where a mortgage deed contained a similar clause, omitting the words in italics, it was held that a purchaser buying in good faith on a sale purporting to be made in exercise of the mortgagee's power of sale was not bound to inquire whether any money remained owing upon the security of the mortgage deed, and would be protected if the money secured had been paid off at the time of the sale; Dicker v. Anqerstein, 3 Ch. D. 600.