Both rents being in each case reserving a rent. (b) Upon Whiteacre? Give the reasons for your answer. 2. Explain and illustrate the maxim-"The interest when it accrues feeds the estoppel." 3. A, the owner of land in fee simple, dedicates it to the public as a highway. B purchases the land on both sides of the highway so dedicated, and then fences it across at both ends, and throws it into his adjoining land. B remains in undisturbed possession for more than 20 years. Has Bacquired any, and (if so) what, title to the land dedicated by A as a public highway? Give the reasons for your answer. 4. A, pending an action at the suit of B, a creditor, proposes to C, another creditor, that he should accept a conveyance of certain land in discharge of his debt, which C agrees to do, and the land is conveyed to him accordingly. The object of A in making the conveyance is to pay C in preference to B, the object of C to get payment of what he thinks a doubtful debt. Ten months afterwards B recovers judgment against A, which he is unable to satisfy, and thirty days afterwards A's estate is, on B's petition, sequestrated for the benefit of his creditors. The conveyance to C did not altogether deprive A of means, but when his affairs are gone into it is seen that the necessary effect of it would be to defeat B's action, should he recover substantial damages. C, at the time of the conveyance, had reason to be doubtful of A's solvency, but did not actually know the state of his affairs. What are the rights (if any) of A's trustee in insolvency against C? Give the reasons for your answer. 5. (a) What is meant by precatory words in a will? (b) Under what circumstances do precatory words create a trust? (c) What is the doctrine of the Courts at the present time with regard to the creation of a trust by precatory words? 6. A purchases a piece of land, and by his direction the conveyance is made to hold to the use of A and his son B, and their heirs. A has made no provision for his son B, or any of his other children, at the date of the conveyance. Who is entitled to the land on the death of A, at law and in equity? Give the reasons for your answer. 7. A testator by his last will devises and bequeaths all the residue of his estate, real and personal, to trustees upon trust to pay the income to A for his life, and after the death of A to divide the corpus among all the children of A who shall attain the age of 25 years. A survives the testator, and dies leaving him surviving three children, one of whom attained the age of 25 years in the testator's lifetime, one who has attained the age of 25 years since the testator's death, and one still under the age of 25 years. What ought the trustees to do with the corpus of the testator's residuary estate after the death of A? Give the reasons for your answer. 8. A, the registered proprietor of land under the Transfer of Land Statute, executes a mortgage to B, which is duly registered. Afterwards B transfers the mortgage to C, and the transfer is duly registered. Afterwards A sells and transfers the land to D, and the transfer is duly registered. State fully the rights and liabilities of the respective parties with respect to payment of the mortgage money, explaining the reasons for your answer. 9. A, the owner of two pieces of land under the same title, brought one of them under the Transfer of Land Statute previous to the month of December, 1885, and the deeds were returned to him with a memorandum indorsed upon the last material registered document that the land had been brought under the Act. A then sold and transferred the land under the provisions of the Transfer of Land Statute to B. Afterwards A, by the use of chemicals, obliterated the memorandum indorsed on the last material registered document, and again sold and conveyed the same land as under the general law to C. At the time of the sale to C the land was unoccupied, but upon C taking possession he was ousted by B. A then could not be found. Has Cany, and (if so) what, remedy otherwise than against A? Give the reasons for your answer. 10. Lands are conveyed to A and his heirs to hold to the use of B during his life, and after the death of B, in case B should die leaving any child or children under the age of 21 years, to the use of A and his heirs for the term of 21 years, or so long as any child of A should live and be under the age of 21 years, upon trusts for the maintenance and education of the children of A, and after the determination of the said term to the use of all the children or any the child of A who, being a son or sons, should attain the age of 21 years, or being daughters or a daughter should attain that age or marry, if more than one in equal shares and their respective heirs. Give the proper legal description and effect of each of the foregoing limitations. Give the reasons for your answer. 11. A, by his will, devises an estate to B. After making the will A contracts, in writing, to sell the estate to C. Before completion of the contract A dies, leaving B surviving. Eventually C, being unable to complete his contract, is released from it by A's executors, who sell the land to D. Who is entitled to the purchase money? Give the reasons for your answer. 12. Upon what securities are trustees in Victoria authorized to invest moneys— (a) In the absence of any express direction in the instrument creating their trust? (b) In the event of their being expressly authorized to invest upon "real securities" ? Give the reasons for your answer. THE LAW OF OBLIGATIONS. The Board of Examiners. 1. On the 1st January, 1884, A and X made an agreement for the sale of certain land by A to X. The agreement contained conditions stipulating that (a) The purchase-money was to be £180, payable as follows:-£40 on the 1st of April then next; £40 on the 1st of April, 1885; and the balance in two equal annual payments to be paid on the 1st of April of the two succeeding years. (b) A agreed to give X possession on the 1st of February then next; and (c) A agreed to give to X a good and sufficient deed of conveyance on the 1st of May then next. Possession was given by A to X, in accordance with the contract, and the first instalment of the purchase-money was paid. Applying the rules laid down by Serjeant Williams in his note to Pordage v. Cole, 1 Saund. 320.b., was the delivery of the above deed of conveyance a condition precedent to A's right to recover the instalment due on the 1st of April, 1885? 2. Explain and illustrate by reference to authorities the doctrine of "ultra vires" as applied to a statutory corporation. 3. Give a concise statement of the Law of Victoria as to the power of a married woman to bind herself by contract. 4. Explain the following passage: "I accept Cumber v. Wane as an authority binding on this Court, but where the circumstances of the case cause it to differ, though in a slight degree, from the simple and naked transaction in Cumber v. Wane, sufficient is shown to |