a thesis - Institute of Advanced Legal Studies

56 EXPRESS TRUSTS.
trust, since no act remains to be done by A., and the trust is
enforceable against him. Fortescue v. Barnett (1834), 3 My. &
K. 36.
[Note. —This decision is at first sight a little curious, since by
s. 3 of the Policies of Assurance Act, 1867, it is provided that no
assignment of a policy of life assurance is to confer on the assignee
any right to sue for the amount of the policy until a written note
of the date and purport of such assignment has been given to the
assurance company. But it seems that it is no part of the duty of
the assignor to give the notice; this is for the assignee to do; so
far as the assignor is concerned, the assignment is complete as soon
as he has executed the assignment. " The trustees ought to have
given notice of the assignment, but their omission to give notice
cannot affect the cestui que trust" Sir John Leach, M. R., says at
p. 43 of the report. This case was followed in Pear son v. The
Amicable Assurance Office (1859), 27 Beav. 229.]
2. A. by a voluntary deed assigns a plot of land which he
holds under an agreement for a lease, with the agreement and all
his interest therein, to trustees upon certain trusts. Subsequently
a lease of the premises is granted to A., but the legal term thereby
vested in him is never assigned to the trustees. This creates a
perfect trust, the settlor having completely assigned the equity
vested in him at the date of the settlement, and the subsequent
grant of the lease being immaterial. Gilbert v. Overton (1864),
2 H. & M. 110.
3. A. writes to B., one of the trustees of his marriage settlement,
a letter stating that he is desirous of making a settlement
upon his four children of six policies of assurance on his own life,
the particulars of which he gives. Three of the policies are handed
to B., but the other three are deposited with the office as collateral
security, but A. undertakes to pay off the loan. The letter
describes the trusts upon which the policies are to be held, and until
the settlement is executed "A. is to be bound by this agreement in
the same manner as if the settlement were actually executed." No
notice of the letter is given to the office, no formal settlement is
ever executed, and no notice is ever given to the other trustees.
B. dies, and the letter and policies are returned to A. This is a
complete assignment of the policies to B., and the trust is enforceable.
In re King, Sewellv. King (1879), 14 Oh. D. 179.