When duly stamped. As to instru ments relating to property the Crown. indorsed on the deed, of the payment of 51. be admissible as evidence of the actual amount of penalty paid. But if the revenue laws require the stamp to be affixed within a given period, the Court will, in such case, inquire into the time when the deed was stamped (t). (14.) Duplicates and counterparts. The duplicate or counterpart of an instrument chargeable with duty (except the counterpart of an instrument chargeable as a lease, such counterpart not being executed by or on behalf of any lessor or grantor,) is not to be deemed duly stamped unless it is stamped as an original instrument, or unless it appears by some stamp impressed thereon that the full and proper duty has been paid upon the original instrument of which it is the duplicate or counterpart (u). DUPLICATE or COUNTERPART of any instrument charge- Where such duty does not amount to 58. TACK IN SECURITY. See MORTGAGE, &c. p. 736. WADSET. See MORTGAGE, &c. p. 736. WARRANT OF ATTORNEY to confess and enter up a judg- See MORTGAGE, &c. p. 736. (15.) Crown deeds. £ s. d. The same duty as the original instrument. 05 0 Except where express provision to the contrary is made by this or any other Act, an instrument relating to property belonging to belonging to the Crown, or being the private property of the sovereign, is to be charged with the same duty as an instrument of the same kind relating to property belonging to a subject (x). A (16.) Bills of sale. сору of a bill of sale is not to be filed in any Court unless the original, duly stamped, is produced to the proper officer (y). (t) Rex v. Inh. of Preston, 5 B. & Ad. 1029; 3 N. & M. 31; Tilsl. on Stamps, p. 86, ed. 2. (u) Stamp Act of 1870, s. 93. (x) Ib. s. 5. (y) Ib. s. 57. (17.) Instruments containing distinct matters. Except where express provision to the contrary is made, an instrument containing or relating to several distinct matters is to be separately and distinctly charged, as if it were a separate instrument, with duty in respect of each of such matters (≈). Of course only one progressive duty was payable, viz., as on a mortgage (a). An instrument containing a declaration of trust of a previous surrender (or double surrender) of copyholds, first, to secure the purchase-money to a person advancing it, and then for the purchaser, with separate covenants of title with both purchaser and mortgagee, and with the other usual mortgage provisoes and covenants, was held to be well stamped with one 35s. stamp (b). In Walker v. Giles (c), it was treated as doubtful, whether an agreement in the mortgage deed, that the mortgagor should be tenant at will to the mortgagee at a certain rent, with power of re-entry by the mortgagee, rendered a lease stamp requisite. It was not necessary to decide the question, as the deed was as a mortgage exempt from stamp duty under the Building Societies Act, and bore a 57. unappropriated stamp. But Maule, J., seemed to think that the redemise would only be a part of the security (c). A covenant by the devisee of the mortgagor contained in an assignment was held to be a new security, and required another stamp (d); but now it would not require a further stamp (e). As to a mortgage to different persons for different sums, the provision for separate stamps under the old law (ƒ) has been repealed, and is not re-enacted; but if separate mortgages by different parties are comprised in one mortgage, two stamps would be required under s. 8 of the Stamp Act of 1870. For the general rule upon this subject, see Phillips on Evidence, p. 490: "If the interest of the parties relates to one thing, which is the subject matter of the instrument, or, in other words, if the instrument affects the separate interests of several, and there is a community of the same subject matter as to all parties, then a single stamp will be sufficient; but where the parties have separate interests in several subject matters, there ought to be a separate stamp for each party." Accordingly, if a number of persons (z) Ib. s. 8. (a) See p. 742. (b) Rushbrooke v. Hood, 17 L. J. C. P. 58. (c) 6 C. B. 662; 13 Jur. 588. (d) Doe v. Gutteridge, 11 Q. B. 409; 12 Jur. 51. (e) Stamp Act of 1870, s. 109, sup. p. 732 (g). (f) 55 Geo. III. c. 184, sched. severally bind themselves in a penalty in one bond conditioned for the performance by each and every of them, of the same matter, the bond requires only one stamp (g). (18.) Cognovit. A mere cognovit requires no stamp, but in certain cases it becomes liable to be stamped as an agreement (h). (19.) Progressive duty. Progressive duties have now ceased to be payable, having been totally repealed (¿). The charge was formerly upon deeds or instruments which together with any schedule, receipt, or other matter put or endorsed thereon, or annexed thereto, contained 2,160 words or upwards, and duty was payable upon every entire quantity of 1,080 words over and above the first 1,080 words, as follows:: Prior to the 11th October, 1850. MORTGAGES charged with ad valorem duty £ s. d. 1 0 0 Prior to the 1st January, 1871. Where any deed or instrument shall be chargeable with any (20.) Sale subject to a mortgage, &c. 0 10 0 Where any property is conveyed to any person in consideration, wholly or in part, of any debt due to him, or subject either certainly or contingently to the payment or transfer of any money or stock, whether being or constituting a charge or incumbrance upon the property or not, such debt, money, or stock is to be deemed the whole or part, as the case may be, of the consideration in respect whereof the conveyance is chargeable with ad valorem duty (j). If on the sale of an estate, part or the whole of the purchasemoney is raised by loan, and the estate is conveyed to the lender, (g) Bowen v. Ashley, 1 B. & P. N. R. 274; and see Reed v. Wilmot, 7 Bing. 577. (h) Fish. Mtg. 1172, ed. 3; 1044, ed. 4. (i) 33 & 34 Vict. c. 99. (j) Stamp Act of 1870, s. 73. subject to redemption by the purchaser, the ad valorem duty on sales to the full amount of the purchase-money, and the ad valorem duty on mortgage to the amount of the sum borrowed, will be both payable (). A conveyance of a reversionary interest subject to the payment of a sum of money by the purchaser to a third party within three months after the death of A. provided he should die without issue male, is chargeable with an ad valorem duty on that sum, as well as on the purchase-money, the object of the Act being that upon every purchase ad valorem duty should be paid on the entire consideration, which either directly or indirectly represents the value of the free and unincumbered corpus of the subject matter of sale (). The words of the Act are general, including a contingent mortgage. The 16 & 17 Vict. c. 59, s. 10 (7), which is re-enacted by s. 73 of the Stamp Act of 1870, was passed in consequence of the case of (m). (21.) Benefit building societies. For stamps on mortgages by benefit building societies, see chap. lxxxii., inf. p. 1147. (22.) Annuity. Where an annuity is the consideration for the sale of lands, this Annuity. is not a sale of an annuity within the Registry or Stamp Acts, and though a bond is the only security for the annuity, and there is no grant of the annuity contained in the deed, a common deed stamp is sufficient (n). So where the consideration for an annuity is the release of a life interest in stock, that is not the sale of an annuity within the Acts, and a deed of assignment of a policy of insurance on goods, by way of better securing the payment of such annuity, was held to be well stamped with a common deed stamp, on the ground that the policy (no loss having occurred), would not be considered property (0). (k) Mortimore v. Comm. of Inland Revenue, 33 L. J. Exc. 263; 2 H. & C. 838; 10 L. T. N. S. 654. (7) Repealed, 33 & 34 Vict. c. 99. (m) Marquis of Chandos v. Comm. of (n) Montague v. Biggs, 1 C. M. & R.110. Stamp. Objection to title. Exemption of deeds, &c. from stamp duty. (23.) Order to pay, or equitable assignment. Such an order to pay as alluded to in p. 538, sup., if delivered to the creditor or his agent, required a stamp as an inland bill of exchange within 55 Geo. III. c. 184; nor was the case altered though the creditor, immediately after delivery to him, went in company with the drawer and handed over the order to the drawee (p). But it was otherwise, if the order was delivered to the fundholder (q); or, as it seems, if such had been the agreement between the debtor and creditor; or if an agreement, to give a lien on the fund distinct from the order, could be proved, and the order be used as evidence of that agreement (r). An order by a creditor to his debtor to pay the amount of his contract to a third person is liable to a stamp as an assignment, and not as an order for payment (s). A mortgage deed, which passed the legal estate and was not duly stamped, is an objection to a title, though the mortgagee is willing to join (t), and must be duly stamped at the vendor's expense. (24.) Bankruptcy. By B. A. 1883, s. 144, every deed, conveyance, assignment, surrender, admission, or other assurance relating solely to freehold, leasehold, copyhold, or customary property, or to any mortgage, charge, or other incumbrance on, or any estate, right, or interest in, any real or personal property which is part of the estate of any bankrupt, and which, after the execution of the deed, conveyance, assignment, surrender, admission, or other assurance, either at law or in equity, is or remains the estate of the bankrupt or of the trustee under the bankruptcy, and every power of attorney, proxy paper, writ, order, certificate, affidavit, bond, or other instrument or writing relating solely to the property of any bankrupt, or to any proceeding under any bankruptcy, shall be exempt from stamp duty, except in respect of fees under the Act. (p) Lord Braybrooke v. Meredith, 13 Sim. 271; 7 Jur. 144; 12 L. J. N. S. 289; Parsons v. Middleton, 6 Ha. 261. (q) Hutchinson v. Heyworth, 9 A. & E. 375; Walker v. Rostron, 9 M. & W. 411. (r) Parsons v. Middleton, sup. (s) Diplock v. Hammond, 2 Sm. & G. 141; 5 De G. M. & G. 320; 23 L. J. Ch. 550; Crowfoot v. Gurney, 2 Mo. & Sc. 473; Brice v. Bannister, 3 Q. B. D. 569; Buck v. Robson, ib. 686; Fisher v. Calvert, W. N. 1879-7, Jessel, M. R.; see Exp. Hall, 10 Ch. D. 621, C. A., overruling Exp. Shellard, 17 Eq. 109, C. J. Bacon. (t) Whiting to Loomes, 14 Ch. D. 822, Jessel, M. R.; affirmed 17 ib. 10, C. A. END OF THE FIRST VOLUME. |