III.   Fund

The High Court of Chancery, also known as Chancery, is a type of administration defined by the act 1662 (14Car2. C.23) yet associated with an Assurance Fund first created in 1601 (43El.c.12) as the Assurance of Merchants of the City of London and subsequently purchased by the members of the Inner and Middle Temple in 1608 from the Crown for the sum of £666, whereby any doubts arising out of the privately owned Court being a proper court were resolved; and the court defined as the High Court of Chancery; and further powers were granted as if a valid court of Admiralty where witnesses were “beyond the seas” and subject to Admiralty Law.