APPLICATIONLegal Dictionary -> APPLICATION
APPLICATION. The act of making a request for something; the paper on which
the request is written is also called an application; as, an application tochancery for leave to invest trust funds; an application to an insurancecompany for insurance. In the
land law of Pennsylvania, an application isunderstood to be a request in writing to have a certain quantity of land ator near a certain place therein mentioned. 3 Binn. 21; 5 Id.
151; Jones onLand Office Titles, 24. 2. An application for insurance ought to state the facts truly as tothe object to be insured, for if any false representation be made with
afraudulent intent, it will avoid the policy. 7 Wend. 72. 3. By application is also meant the use or disposition of a thing; asthe application of purchase money. 4. In some
cases a purchaser who buys trust property is required, tosee to the application of thee purchase money, and if be neglects to do so,and it be misapplied, he will be considered
as a trustee of the property hehas so purchased. The subject will be examined by considering, 1, the kindof property to be sold; 2, the cases where the purchaser is bound to
see tothe application of the purchase money in consequence of the wording of thedeed of trust. 5.-1. Personal property is liable, in the hands of the executor, forthe
payment of debts, and the purchaser is therefore exempted from seeing tothe application of the purchase money, although it may have been bequeathedto be sold for the
payment of debts. 1 Cox, R. 145; 2 Dick. 725; 7 John. Ch.Rep., 150, 160; 11 S. & R. 377, 385; 2 P. Wms. 148; 4 Bro. C. C. 136;White's L. C. in Eq. 54; 4 Bouv. Inst. n.
3946. 6. With regard to real estate, which is not a fund at law for thepayment of debt's, except where it is made so by act of assembly, or bydirection in the will of the
testator or deed of trust, the purchaser froman executor or trustee may be liable for the application of the purchasemoney. And it will now be proper to consider the cases
where such liabilityexists. 7.-2. Upon the sale of real estate, a trustee in whom the legal titleis vested, can it law give a valid discharge for the purchase money, becausehe
is the owner at law. In equity, on the contrary, the persons among whomthe produce of the sale is to be distributed are considered the owners; anda purchaser must obtain a
discharge from them, unless the power of givingreceipts is either expressly or by implication given to the trustees to,give receipts for the purchase money. It is, for this reason,
usual toprovide in wills and trust deeds that the purchaser shall not be required tosee to the application of the purchase money.