Peake v. Yeldell

Citations

• 17 Ala. 636

Syllabus

<p>1. The construction and interpretation of a contract, as well as its validity, must be governed by the law of the place where the contract is made.</p> <p>2. By an antenuptial settlement, executed in South Carolina, where the parties resided, thjilpri perty of the intended wife was convey* a to a trustee, to be hedfl ijy him for her sole and separate use, behoof, and benefit until the solemjnization of the marriage, and immediately after, in trust “for the joint and equal benefit and behoof” of the husband and wife, “for and during the term of their joint lives, without being subject in any manner to the debts, contracts and engagements” of the husband; and in trust to permit and suffer the husband and wife, “during their joint lives to receive and take the profits &c. to and for their joint and equal use, behoof, and benefit, and from and after the death of either of them, then to an'd for the sole and individual use of the survivor during his or her natural life,” with remainder over, &c. — Helrl—1st, That by the law of South Carolina the wife took a joint interest in the trust with her husband. 2d, -That, until the trust is executed by the union of the legal with the equitable title, the former continues in the trustee, and the husband’s interest in the property cannot be seized and sold under execution at law.</p>