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![handle is hein.slavery/ssactsengr0745 and id is 1 raw text is: 944 FARQUHARSON V. SETON 5 RUSS. 45.
was made to the plan. His prayer was, that this clerical error in the enrolment
of the specification might be amended.
Mr. Beames, for the petition,
The Master of the Rolls [Sir John Leach] made the order.
[45] FARQUHARSON V,. SETON. Rolls. July 2, 4, 8, 21, 25, 1828.
A second incumbrancer filed a bill in Grenada, to which the mortgagor and first
incumbrancer were parties defendants, impeaching one of the deeds under which
the first incumbrancer claimed, and praying that the equity of redemption of
the mortgaged premises might be sold. By a decree made in that suit, the court
in Grenada declared the impeached deed void, the effect of which was to reduce
considerably the claim of the first incumbrancer : he, therefore appealed from
that decree to the privy council, who reversed the decree of the court in Grenada,
and established the deed in question. Before that, suit was finally concluded,
the mortgagor filed a bill here against the first incumbrancer for redemption,
praying that the same deed might be declared void, which had been affirmed
by the privy council :-his bill was dismissed with costs, on the ground that
he was concluded by the decree of the privy council from raising, in a new suit,
the question as to the validity of that instrument.
In 1794, the Defendant Seton contracted for the purchase, at the price of £60,000,
of a plantation called Dunfermline, in the island of Grenada, with the slaves, stock,
and utensils attached to it. An insurrection of the slaves, which occurred shortly
afterwards, prevented the immediate completion of the contract, and greatly
lessened the value of the property ; and an arrangement was subsequently entered
into, by which the purchase-money with interest, amounting in the whole to £81,900,
was to be paid by eleven annual instalments, on the 1st of October 1797, and the
1st of October in each of the ten succeeding years. The first instalment having
been paid, the estate was, by indentures of lease and release, dated the 21st and
22d of August 1798, conveyed to Seton in fee, subject to a term of years, for securing
to the vendors the remaining ten instalments.
In the mean time, Seton had been negotiating for the sale of the property to
Barclay Farquharson and John M'Pherson, who carried on business under the
firm of Barclay Farquharson and Co. The first agreement, dated the 10th of
March 1797, and signed by both Farquharson and M'Pherson, fixed the price at
£58,860, payable by three instalments at twelve, eighteen, and twenty-four months,
exclusive of a further sum of upwards of £5000 for the growing crops, negroes,
supplies, &c. Barclay Farquharson and Co. drew bills for the amount on their
correspondents in London, and were let into possession [46] of the plantation. The
bills were dishonoured ; and, in the absence of Farquharson, who, in the mean
time had left the West Indies and returned to England, M'Pherson concluded a
new agreement with Seton, dated the 4th of August 1797, and signed by him
M'Pherson on his own behalf, and also as attorney for Farquharson, by which
the price was to be £120,000, payable by ten successive instalments of £12,000,
and secured by a mortgage of the estate. In March 1798, it was arranged by
Seton and M'Pherson, that these yearly payments should be divided into two
sets of instalments :-one set, amounting in the whole to £69,700, payable on the
1st of October in each successive year, and corresponding exactly with the ten yearly
payments which Seton had to make to his vendors ; and the other set, payable
on the 1st of January in each successive year, and amounting in the whole to
£50,300. The first of the first set of iinstalments, being a sum of £8120, was paid ;
and by indentures of lease and release, dated on the 25th and 26th days of December
1798, the estate was conveyed to Farquharson and M'Pherson as tenants in common
in fee, subject to a terri of 1000 years, for securing the remaining nine instalments
of the sum of £69,700. In these deeds there was no mention of, or reference to,
the other set of instalments ; neither was there any allusion to the sum of £50,300,
which was their amount ; and there was an express proviso that the term should
cease on payment of the residue of the £69,700. But Farquharson and M'Pherson
afterwards executed deeds of lease and release, dated the 10th and 11th of October
1799, by which (after reciting that the price agreed to be paid was £120.000-](ViewImageLocal?handle=hein.slavery/ssactsengr0745&div=1&collection=&method=preview&ext=.png&size=3)