Interest  payable  yearly
Out  of  Rents  and  Profits
Laches
Rate  of


Lawful  Interest


593
593
593
593
593


"All  interest  is  in  default  of  payment,"  i.  e.,  of  the  prm-
cipal.  Butler  v.  Duncomb,  1  P.  W.  448,  458  ;  Churchman
V  Hervey,  Amb.  335,  342.  From  the  time  a  portion  ought
to  be  raised  and  paid,  it  in  its  own  nature  ought  to  carry  in-
terest, though  not  mentioned.  E.  Pomfret  v.  Ld.  Windsor,
2  Ves  sen  472,  487.     The  question  therefore  usually  is,  at


Interest  on  Portions.  593

what  time  the  portion  became  payable.     If  there  be  an  ap-  commences  from
pointment  in  pursuance  of  a  power  which  authorizes  interest,  pl^^^'J^'^'""
lawful  interest  may  be   directed  to  be  raised    (Boycot  v.  May  be  appointed.
Cotton,  1  Atk.  552 ;  Hall  v.  Carter,  2  Atk.  358 ;  Lewis  v.
Frehe,  2  Ves.  507),  and  must  be  raised  at  the  time  ap-
pointed.    Gough  V.  Andrews,  1  Coll.  59.     But  it  frequently
happens,  that  the  power  does  not  in  terms  authorize  the  ap-
pointment of  interest.     In  such  cases,  where  the  power  is —
as  it  generally  is — to  appoint  in  such  manner  and  in  such
proportions  as  the  appointor  shall  think  fit,  he  may  appoint
the  money  to  be  paid  at  any  time,  as  at  twenty-one  or  mar-
riage, and  interest  will  be  allowed  from  such  time.     Green  v.
Belcher,  1  Atk.  505,  507;  see  Conway  v.  Conway,  3  B.  C.  C.
267.
