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Holder V Holder
''Holder v Holder'' 968Ch 353 is an English trusts law case concerning conflict of interest. Facts Victor Holder was an executor of his father’s will. He wanted to renounce executorship, after he had performed some tasks in that capacity. Unfortunately that technically meant the executorship could not be properly renounced. The remaining executors put two farms up for auction, on which Victor was a tenant. Victor bought them at the auction. The other beneficiaries of the trust claimed he could not make the purchase, because it would constitute a conflict of interest. Judgment Harman LJ and Danckwerts LJ delivered judgments distinguishing this from Lord Eldon’s strong words in ''Ex parte James'' and '' Ex parte Lacey'' because everybody concerned knew that the purchase was planned, and maybe Lord Eldon exaggerated in saying that you can never determine what somebody knows. Sachs LJ concurred that there was no conflict of interest. He took the view that a hard and fast ru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conflict Of Interest
A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, financial or otherwise, and serving one interest could involve working against another. Typically, this relates to situations in which the personal interest of an individual or organization might adversely affect a duty owed to make decisions for the benefit of a third party. An "interest" is a commitment, obligation, duty or goal associated with a particular social role or practice. By definition, a "conflict of interest" occurs if, within a particular decision-making context, an individual is subject to two coexisting interests that are in direct conflict with each other. Such a matter is of importance because under such circumstances the decision-making process can be disrupted or compromised in a manner that affects the integrity or the reliability of the outcomes. Typically, a conflict of interest arises when an individual finds themselves occupying two soc ... [...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] |
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] |
Conflict Of Interest
A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, financial or otherwise, and serving one interest could involve working against another. Typically, this relates to situations in which the personal interest of an individual or organization might adversely affect a duty owed to make decisions for the benefit of a third party. An "interest" is a commitment, obligation, duty or goal associated with a particular social role or practice. By definition, a "conflict of interest" occurs if, within a particular decision-making context, an individual is subject to two coexisting interests that are in direct conflict with each other. Such a matter is of importance because under such circumstances the decision-making process can be disrupted or compromised in a manner that affects the integrity or the reliability of the outcomes. Typically, a conflict of interest arises when an individual finds themselves occupying two soc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Executor
An executor is someone who is responsible for executing, or following through on, an assigned task or duty. The feminine form, executrix, may sometimes be used. Overview An executor is a legal term referring to a person named by the maker of a will or nominated by the testator to carry out the instructions of the will. Typically, the executor is the person responsible for offering the will for probate, although it is not required that they fulfill this. The executor's duties also include disbursing property to the beneficiaries as designated in the will, obtaining information of potential heirs, collecting and arranging for payment of debts of the estate and approving or disapproving creditors' claims. An executor will make sure estate taxes are calculated, necessary forms are filed, and . They will also assist the attorney with the estate. Additionally, the executor acts as a legal conveyor who designates where the donations will be sent using the information left in ''bequ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auction
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory. The open ascending price auction is arguably the most common form of auction and has been used throughout history. Participants bid openly against one another, with each subsequent bid being higher than the previous bid. An auctioneer may announce prices, while bidders submit bids vocally or electronically. Auctions are applied for trade in diverse contexts. These contexts include antiques, paintings, rare collectibles, expensive wines, commodities, livestock, radio spectrum, used cars, real estate, online advertising, vacation packages, emission trading, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charles Harman
Sir Charles Eustace Harman (22 November 1894 – 14 November 1970) was an English lawyer and judge who was a Lord Justice of Appeal from 1959 to his retirement in mid-1970. He was born in Kensington, the son of John Eustace Harman (1861–1927), barrister of Lincoln's Inn, and his wife, Ethel Frances ''née'' Birch, of Onslow Square, central London. He was educated at Eton College and King's College, Cambridge. His brother John Augustus (Jack), only a year and a half his senior, was killed in a 1917 flying accident, as part of his war service with the Royal Flying Corps. Charles's own university career was interrupted by World War I. He was wounded within the first year, at the Battle of Loos, and spent the rest of the war as a prisoner; he used the time to improve his languages.Denys B. Buckley, ‘Harman, Sir Charles Eustace (1894–1970)’, rev. ''Oxford Dictionary of National Biography'', Oxford University Press, 200accessed 14 Sept 2015/ref> Harman was appointed a Ju ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harold Danckwerts
Sir Harold Otto Danckwerts (23 February 1888 – 12 June 1978) was a lawyer, then senior judge of England and Wales (1949-1969). Career One of three sons and one daughter of William Otto Adolph Julius Danckwerts (German, but raised in South Africa and naturalised British) and Mary Caroline Lowther, Danckwerts was educated at Winchester College, Balliol College, Oxford, and Harvard University.''The Judges of England 1272-1990'', by Sir John Sainty (Selden Society, 1993) He was called to the bar by Lincoln's Inn in 1913. In World War I he served with the East Riding of Yorkshire Yeomanry and the Machine Gun Corps, achieving the rank of Captain, and was mentioned in despatches. He was appointed a Justice of the Chancery Division of the High Court of England and Wales on 1 June 1949, and received the customary knighthood shortly after. He was promoted to be a Lord Justice of Appeal in the Court of Appeal of England and Wales on 9 January 1961. Following that he was made a member of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ex Parte James
''Ex parte James'' (1803) 32 ER 385 is an insolvency and company law case, concerning conflicts of interest, and the absolute duty to avoid them. Facts A bankrupt's estate was purchased by a solicitor to the commission of the bankrupt. Judgment Lord Eldon LC stated the following in his judgment. See also *''Regal (Hastings) Ltd v Gulliver'' 9421 All ER 378 *''Holder v Holder'' 968Ch 353 Notes References *TE Chan,Revisiting Ex Parte James 003 003, O03, 0O3, OO3 may refer to: *003, fictional British 00 Agent *003, former emergency telephone number for the Norwegian ambulance service (until 1986) *1990 OO3, the asteroid 6131 Towen * OO3 gauge model railway *''O03 (O2)'' and other related ...Singapore Journal of Legal Studies 557-582 *Copy of Judgment in the English Report United Kingdom company case law United Kingdom insolvency case law English trusts case law Court of Chancery cases 1803 in British law 1803 in case law {{UK-law-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Scott, 1st Earl Of Eldon
John Scott, 1st Earl of Eldon, (4 June 1751 – 13 January 1838) was a British barrister and politician. He served as Lord High Chancellor of Great Britain between 1801 and 1806 and again between 1807 and 1827. Background and education Eldon was born in Newcastle upon Tyne. His grandfather, William Scott of Sandgate, a street adjacent to the Newcastle quayside, was clerk to a fitter, a sort of water-carrier and broker of coals. His father, whose name also was William, began life as an apprentice to a fitter, in which service he obtained the freedom of Newcastle, becoming a member of the guild of Hostmen (coal-fitters); later in life he became a principal in the business, and attained a respectable position as a merchant in Newcastle, accumulating property worth nearly £20,000. Eldon was educated at Newcastle upon Tyne Royal Grammar School. He was not remarkable at school for application to his studies, though his wonderful memory enabled him to make good progress in them; h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keech V Sandford
is a foundational case, deriving from English trusts law, on the fiduciary duty of loyalty. It concerns the law of trusts and has affected much of the thinking on directors' duties in company law. It holds that a trustee owes a strict duty of loyalty so that there can never be a possibility of ''any'' conflict of interest. The case's importance derives partly from its historical context, with the South Sea Bubble. Lord King LC, who decided the case, replaced the former Lord Chancellor, Thomas Parker, 1st Earl of Macclesfield who was tried and found guilty in 1725 for accepting bribes and speculating with and losing client money in the South Sea crash. Lord Macclesfield had, probably not coincidentally previously held that a fiduciary was entitled to take money from a trust, invest it on their own behalf, and keep the profit, if they restored money to the trust. ''Keech'' reversed this, and the law in England and the UK has maintained a strict opposition to any possibility of a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
