National Trustees Executors and Agency Company of Australasia Limited v Boyd [1926] HCA 44

Gy eto, tg Bete a ce

72 HIGH COURT

[HIGH COURT OF AUSTRALIA.]

THE NATIONAL TRUSTEES, EXECUTORS AND AGENCY COMPANY OF AUSTRAL- | APPELLANTS;

ASIA LIMITED AND ANOTHER . - PLAINTIFFS, AND BOYD AND ANOTHER . < © 2 " RESPONDENTS. DEFENDANTS, i

ON APPEAL FROM THE SUPREME COURT OF VICTORIA.

Landlord and Tenant—Life tenant—Power to lease for limited term —Fiduciary power—

an hi oe Lease granted pursuant to agreement with tenant—Lease extending beyond life of os tenant for life—Lease not registered—Right of tenant to possession—Transfer Metnourne, Land Act 1915 (Vict.) (No. 2740), secs. 61, 72—Settled Estates and Settled Lands Oct. 8, 11. Act 1915 (Viet.) (No. 2725), sees. 6, 90. Sypyey, By a deed of family arrangement, made between the widow and the children Nov. 18. of a testator and a trustee, it was agreed that the widow should transfer a

ee certain hotel to the trustee and that thereupon the trustee should transfer alife nox'C. Isaacs, Hi;

estate in the hotel to the widow, who should have sole control and man:

Gavan Duy. of the hotel during her life with power to lease, to fix the rents and the am' of bonuses to be paid therefor and to apply to her own use such bom provided that she should not have power to grant any lease for a term ex seven years, It was also agreed that the trustee should hold the hotel after the widow's death upon trust for all the testator's children equally. 'The deed arrangement was carried out and the widow became registered as the 0 of a life estate in the hotel.

Held, by the whole Court, that the power given to the widow was fiduciary.

In 1914 the widow executed a lease of the hotel to A for the term of se} years from Ist May 1914, and on the same day executed an agreement with that on every Ist June in each year during the life of the widow so long

39 C.L.R.] OF AUSTRALIA.