JUDGMENT

Mitter, J. - Louis Joseph Barretto and Edward Brightman (hereafter called the Settlors) were, in the year 1827, partners of the firm of Messrs. Joseph Barretto and Sons. The said firm, as also the two individual partners, became involved in debts. On March 10, 1827, they as first parties executed a deed of trust for the purpose of liquidating their debts. The second parties to the document were some of the creditors, who executed the document on behalf of themselves and the other creditors. They were made trustees. The assets of the said firm, as well as the personal properties of the settlors, were conveyed to the trustees for payment of their debts. The third parties to the document were intended to be those of the creditors, who would later on accept the terms of the trust by executing the trust instrument.

2. The document is a long one and need not, for the purpose of this appeal, be summarised in all its details. The important provisions may be summarised in a general way as follows:

(i) That the trustees were to pay out of the profits and proceeds of the partnership assets the joint debts of the settlors, due to those creditors of the firm who would be parties to the de