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King James I. by his letters patent under the great seal of Ireland, dated the 17th of June 1608, granted the dissolved abbey or monastery of the Canons of Cong, in the county of Mayo, with the lands, tenements, and appurtenances thereunto belonging, and several vicarages, rectories, tithes, and lands, which were part of the possessions of the said abbey before the dissolution thereof, to John King and John Bingley, and their assigns, for 116 years, to commence from the 18th of May then last past, at the yearly rent of £28 17s. 4d. The residue of which term, by deed, dated the 26th of May 1667, became vested in John Tasburgh, father of the appellant Henry.

King Charles I. by his letters patent, dated the 25th of March 1647, granted the same premises to Sir Maurice Eustace, Knt. and his heirs, at the like yearly rent of £28 17s. 4d. but without reciting, or taking any notice of the said term of 116 years.

Sir Maurice Eustace, by his will, dated the 20th of June 1665, devised the premises, inter alia, to his nephew Sir John Eustace, in fee; who, by virtue thereof, or his heir at law of the testator, became entitled to the reversion and inheritance of the premises, expectant on the determination of the said term of 116 years.

The premises being only of the clear yearly value of £200, Sir John Eustace, in consideration of £200 paid him by the said John Tasburgh, did, by indentures of lease and release, dated the 30th and 31st of May 1681, grant and convey the same to Charles Tasburgh, Esq, and his heirs, in trust for the said John Tasburgh; in which indenture of release there was a proviso to the following effect, viz. That if the said Sir John Eustace, his heirs, executors, or administrators, should pay to the said Charles Tasburgh, his executors, administrators, or assigns, at the end of five years, to be accounted from the date of the said indenture of release, [266] the sum of £200 of current money of England, with full interest for the same, at the rate of £10 per cent. per ann. according to the custom of the kingdom of Ireland; that then it should be lawful for the said Sir John Eustace and his heirs, into the premises to re-enter, and the same to re-possess and enjoy as in his and their former right; but if the said Sir John Eustace, his heirs, executors, or administrators, should fail in payment of the said sum, with interest at the time limited, that then the state of the said Charles Tasburgh should be absolute and indefeasible, as well in equity as at law; and that the said Sir John Eustace, his heirs and assigns, should, on failure of payment as aforesaid, be for ever debarred from all right and relief in equity, against the tenor of the said indenture of release; and the said Sir John Eustace did thereby, for himself and his heirs, release unto the said Charles Tasburgh, his heirs and assigns, for ever, all his right in equity to redeem the premises, in case of failure of payment as aforesaid; and this conveyance being intended as a conditional purchase, there was no covenant therein, on the part of the grantor, to repay the £200 or the interest thereof, as is usual in all mortgages.

The five years mentioned in the proviso being elapsed, and no part of the £200 or the interest thereof, having been paid; and John Tasburgh having no remedy at law to compel the payment, the estate which passed by the release being only a reversion, expectant on the determination of a term of which there were then forty-three years unexpired; John Tasburgh was therefore advised to bring a bill to hasten the payment of the money, or, in default thereof, to make his estate in the premises indefeasible; and accordingly a bill was, on the 19th of April 1687, exhibited in the Court of Chancery of Ireland, in the name of the said Charles Tasburgh, against Sir John Eustace, setting forth the nature of the conveyance, and praying that he might