Equity and Trust in UK Law

Leading Cases
  • Bristol and West Building Society v Mothew
    • Court of Appeal
    • 24 Jul 1996

    A fiduciary is someone who has undertaken to act for or on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence. A fiduciary must act in good faith; he must not make a profit out of his trust; he must not place himself in a position where his duty and his interest may conflict; he may not act for his own benefit or the benefit of a third person without the informed consent of his principal.

  • Target Holdings Ltd v Redferns
    • House of Lords
    • 20 Jul 1995

    In such a case the basic rule is that a trustee in breach of trust must restore or pay to the trust estate either the assets which have been lost to the estate by reason of the breach or compensation for such loss.

  • Lloyds Bank Plc v Rosset and Others
    • House of Lords
    • 08 May 1990

    The first and fundamental question which must always be resolved is whether, independently of any inference to be drawn from the conduct of the parties in the course of sharing the house as their home and managing their joint affairs, there has at any time prior to acquisition, or exceptionally at some later date, been any agreement, arrangement or understanding reached between them that the property is to be shared beneficially.

  • Gissing v Gissing
    • House of Lords
    • 07 Jul 1970

    A resulting, implied or constructive trust—and it is unnecessary for present purposes to distinguish between these three classes of trust—is created by a transaction between the trustee and the cestui qui trust in connection with the acquisition by the trustee of a legal estate in land, whenever the trustee has so conducted himself that it would be inequitable to allow him to deny to the cestui qui trust a beneficial interest in the land acquired.

  • Westdeutsche Landesbank Girozentrale v Islington London Borough Council [QBD (Comm)]
    • House of Lords
    • 07 Jun 1996,07 Jun 1996

    Although it is difficult to find clear authority for the proposition, when property is obtained by fraud equity imposes a constructive trust on the fraudulent recipient: the property is recoverable and traceable in equity. Thus, an infant who has obtained property by fraud is bound in equity to restore it: Stocks v. Wilson [1913] 2 K.B. 235. 244; R. Leslie Ltd. v. Shiell [1914] 3 K.B. 607.

  • Ayerst v C. & K. (Construction) Ltd
    • House of Lords
    • 21 May 1975

    The "legal ownership" of the trust property is in the trustee, but he holds it not for his own benefit but for the benefit of the cestui que trustent or beneficiaries. Upon the creation of a trust in the strict sense as it was developed by equity the full ownership in the trust property was split into two constituent elements, which became vested in different persons: the "legal ownership" in the trustee, what came to be called the "beneficial ownership" in the cestui que trust.

  • Hussey v Palmer
    • Court of Appeal
    • 22 Jun 1972

    By whatever name it is described, it is a trust imposed by law whenever justice and good conscience require it. It is a liberal process, founded upon large principles of equity, to be applied in oases where the defendant cannot conscientiously keep the property for himself alone, but ought to allow another to have the property or a share in it. It is an equitable remedy by which the Court can enable an aggrieved party to obtain restitution.

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