Re Codd; Fitzgerald v Codd

• Jurisdiction: Ireland
• Judgment Date: 08 December 1937
• Date: 08 December 1937
• Court: Supreme Court

S.C.,

I.F.S.

In re Codd, deceased. Fitzgerald

and

Codd and O'Conor

Bequest of residuary estate, real and personal, upon trust for conversion - Trustees to pay income to wife for life - Pending contract of malting at date of death - Payment by commission on barrels of barley received for malting - Process completed at date of death -Delivery not completed - Whether commission residuary estate or income of estate.

By his will a testator, after making a number of specific and pecuniary bequests, left all the residue and remainder of his property, whether real or personal, to trustees upon trust to sell, call in and convert into money, with power to postpone such conversion, and he directed the trustees to hold the said residuary real and personal estate before, pending and after conversion upon trust to pay the annual income thereof to his wife during her life and upon further trusts. He authorised his trustees to carry on the trade or business of maltster carried on by him during such period (but no longer) as might be necessary to complete the existing contracts for the manufacture of malt during the current malting season and for that purpose to retain and employ therein capital which should at his death be employed therein. At the date of his death, there was an existing contract for the manufacture of malt for one firm of brewers. By the terms of the contract, the testator was to receive a commission of 8s. 6d. per...