Where a father was, by his marriage settlement, empowered to divide at discretion the funds in which the children had an expectant interest:—
Held, that he could not deal or negotiate with them in executing the power.
Per THE LORD CHANCELLOR:— A parent in, such a case purchasing the interests of the children, one of them being only eighteen years of age, is a transaction wholly inconsistent with that protection which the law of every civilised country affords to children; and would not be permitted without the fullest evidence of an intention authorizing it.
Held, reversing the decree below, that releases or discharges granted by the children to the father, in consideration of money payments made by him, formed no bar to their subsequent claims under the settlement, — such releases or discharges notwithstanding.
Per LORD CHELMSFORD:— The donee of a power may execute it without referring to it, and without taking the slightest notice of it, provided the intention to execute the power really appears.
The power may be exercised from time to time by several appointments, to suit convenience and promote advantage, as exigencies arise, or as expediency may suggest.
Per LORD WESTBURY:— Some of the learned Judges of the Court below seem to have thought that the power required an execution uno flatu, once for all. If that were so, no appointment to a child, though settled in life, could take place until all the other children, objects of the power, had attained maturity.