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Belmont Finance Corp Ltd V Williams Furniture Ltd (No 2)
''Belmont Finance Corp Ltd v Williams Furniture Ltd (No 2)'' 9801 All ER 393 is an English trusts law case, concerning breach of trust and dishonest assistance. Facts Belmont Finance Corp was wholly owned by City Industrial Finance, Mr James the chairman of both. Belmont’s directors paid £500,000 under a scheme to help Maximum Co, owned and controlled by Mr Grosscurth, to buy shares in Belmont from City. This was a breach of fiduciary duty and breach of the prohibition on financial assistance. City received £489,000 ultimately. Belmont later claimed City was liable to account as a constructive trustee.See the headnote of the All England Law Report, at 9801 All ER 393 Judgment The Court of Appeal held that City Industrial Finance was liable to account. Buckley LJ noted ''Barnes v Addy ''Barnes v Addy'' (1874) LR 9 Ch Appbr>244ref name="citations" /> was a decision of the Court of Appeal in Chancery. It established that, in English trusts law, third parties could be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Trusts Law
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the Commonwealth and the United States. Trusts developed when claimants in property disputes were dissatisfied with the common law courts and petitioned the King for a just and equitable result. On the King's behalf, the Lord Chancellor developed a parallel justice system in the Court of Chancery, commonly referred as equity. Historically, trusts have mostly been used where people have left money in a will, or created family settlements, charities, or some types of business venture. After the Judicature Act 1873, England's courts of equity and common law were merged, and equitable principles took precedence. Today, trusts play an important role in financial investment, especially in unit trusts and in pension trusts (where trustees and fun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Trust Law
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the Commonwealth and the United States. Trusts developed when claimants in property disputes were dissatisfied with the common law courts and petitioned the King for a just and equitable result. On the King's behalf, the Lord Chancellor developed a parallel justice system in the Court of Chancery, commonly referred as equity. Historically, trusts have mostly been used where people have left money in a will, or created family settlements, charities, or some types of business venture. After the Judicature Act 1873, England's courts of equity and common law were merged, and equitable principles took precedence. Today, trusts play an important role in financial investment, especially in unit trusts and in pension trusts (where trustees and f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dishonest Assistance
Dishonest assistance, or knowing assistance, is a type of third party liability under English trust law. It is usually seen as one of two liabilities established in ''Barnes v Addy,'' the other one being knowing receipt. To be liable for dishonest assistance, there must be a breach of trust (law), trust or fiduciary duty by someone other than the defendant, the defendant must have helped that person in the breach, and the defendant must have a dishonest state of mind. The liability itself is well established, but the mental element of dishonesty is subject to considerable controversy which sprang from the House of Lords case ''Twinsectra Ltd v Yardley''. History It is a common belief that dishonest or knowing assistance originates from Lord Selbourne's judgment in ''Barnes v Addy'': As can be seen, the judgment laid down two heads of liability: one based on receipt of trust property (knowing receipt) and the other on assisting with knowledge in a dishonest and fraudulent design ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
City Industrial Finance
A city is a human settlement of notable size.Goodall, B. (1987) ''The Penguin Dictionary of Human Geography''. London: Penguin.Kuper, A. and Kuper, J., eds (1996) ''The Social Science Encyclopedia''. 2nd edition. London: Routledge. It can be defined as a permanent and densely settled place with administratively defined boundaries whose members work primarily on non-agricultural tasks. Cities generally have extensive systems for housing, transportation, sanitation, utilities, land use, production of goods, and communication. Their density facilitates interaction between people, government organisations and businesses, sometimes benefiting different parties in the process, such as improving efficiency of goods and service distribution. Historically, city-dwellers have been a small proportion of humanity overall, but following two centuries of unprecedented and rapid urbanization, more than half of the world population now lives in cities, which has had profound consequences for g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiduciary Duty
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment. Likewise, financial advisers, financial planners, and asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter... In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trust ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
All England Law Report
All or ALL may refer to: Language * All, an indefinite pronoun in English * All, one of the English determiners * Allar language (ISO 639-3 code) * Allative case (abbreviated ALL) Music * All (band), an American punk rock band * ''All'' (All album), 1999 * ''All'' (Descendents album) or the title song, 1987 * ''All'' (Horace Silver album) or the title song, 1972 * ''All'' (Yann Tiersen album), 2019 * "All" (song), by Patricia Bredin, representing the UK at Eurovision 1957 * "All (I Ever Want)", a song by Alexander Klaws, 2005 * "All", a song by Collective Soul from ''Hints Allegations and Things Left Unsaid'', 1994 Science and mathematics * ALL (complexity), the class of all decision problems in computability and complexity theory * Acute lymphoblastic leukemia * Anterolateral ligament Sports * American Lacrosse League * Arena Lacrosse League, Canada * Australian Lacrosse League Other uses * All, Missouri, a community in the United States * All, a brand of Sun Products ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barnes V Addy
''Barnes v Addy'' (1874) LR 9 Ch Appbr>244ref name="citations" /> was a decision of the Court of Appeal in Chancery. It established that, in English trusts law, third parties could be liable for a breach of trust in two circumstances, referred to as the two 'limbs' of ''Barnes v Addy'': knowing receipt and knowing assistance.'' Royal Brunei Airlines v Tan'' 9952 AC 378, 382. Although the decision remains historically significant in common law countries, the House of Lords significantly revised the relevant equitable principles in cases such as '' Royal Brunei Airlines v Tan'' (1995) and ''Dubai Aluminium Co Ltd v Salaam'' (2002). Statement of principle In '' Royal Brunei Airlines v Tan'', the House of Lords described this passage as the "much-quoted dictum" in ''Barnes v Addy'': This passage was adopted by the High Court of Australia as a statement of the 'rule in ''Barnes v Addy in '' Farah Constructions Pty Ltd v Say-Dee Pty Ltd'' (2007).(2007) 230 CLR 89; [111]. F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reginald Goff
Sir Reginald William Goff, PC (22 March 1907 – 17 January 1980) was a British judge. He was a Lord Justice of Appeal between 1975 and his death in 1980, when he was known as Lord Justice Goff. Biography The son of William Kingsley Goff and Louisa Goff, Reginald Goff was educated at Sutton County Grammar School, King's College London (Fellow, 1970) and University College London (Fellow, 1968). He took an LL.B. with first-class honours in 1928, and won the Certificate of Honour in the Bar examination the same year. He was called to the bar by Lincoln's Inn in 1929 (Bencher, 1959; Treasurer, 1974). During the Second World War, he served in the Auxiliary Fire Service until 1942, then in the Royal Air Force until 1946; he was an assistant judge advocate general from 1945 to 1946. Goff was appointed a Queen's Counsel in 1953 and was elected to the General Council of the Bar in 1958. He was appointed a Justice of the High Court in 1965 and received the customary knighthood, and w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Trusts Case Law
English usually refers to: * English language * English people English may also refer to: Peoples, culture, and language * ''English'', an adjective for something of, from, or related to England ** English national identity, an identity and common culture ** English language in England, a variant of the English language spoken in England * English languages (other) * English studies, the study of English language and literature * ''English'', an Amish term for non-Amish, regardless of ethnicity Individuals * English (surname), a list of notable people with the surname ''English'' * People with the given name ** English McConnell (1882–1928), Irish footballer ** English Fisher (1928–2011), American boxing coach ** English Gardner (b. 1992), American track and field sprinter Places United States * English, Indiana, a town * English, Kentucky, an unincorporated community * English, Brazoria County, Texas, an unincorporated community * Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Appeal (England And Wales) Cases
A court of appeals, also called a court of appeal, appellate court, appeal court, court of second instance or second instance court, is any court of law that is empowered to hear an appeal of a trial court or other lower tribunal. In much of the world, court systems are divided into at least three levels: the trial court, which initially hears cases and reviews evidence and testimony to determine the facts of the case; at least one intermediate appellate court; and a supreme court (or court of last resort) which primarily reviews the decisions of the intermediate courts, often on a discretionary basis. A particular court system's supreme court is its highest appellate court. Appellate courts nationwide can operate under varying rules. Under its standard of review, an appellate court decides the extent of the deference it would give to the lower court's decision, based on whether the appeal were one of fact or of law. In reviewing an issue of fact, an appellate court ordinar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1980 In British Law
__NOTOC__ Year 198 (CXCVIII) was a common year starting on Sunday (link will display the full calendar) of the Julian calendar. At the time, it was known as the Year of the Consulship of Sergius and Gallus (or, less frequently, year 951 ''Ab urbe condita''). The denomination 198 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. Events By place Roman Empire *January 28 ** Publius Septimius Geta, son of Septimius Severus, receives the title of Caesar. **Caracalla, son of Septimius Severus, is given the title of Augustus. China *Winter – Battle of Xiapi: The allied armies led by Cao Cao and Liu Bei defeat Lü Bu; afterward Cao Cao has him executed. By topic Religion * Marcus I succeeds Olympianus as Patriarch of Constantinople (until 211). Births * Lu Kai (or Jingfeng), Chinese official and general (d. 269) * Quan Cong, Chinese general and advisor (d. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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