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James Roscoe (Bolton) Ltd V Winder
''James Roscoe (Bolton) Ltd v Winder'' 9151 Ch 62 is an English trusts law case, concerning asset tracing. Facts Mr Winder was the trustee in bankruptcy for Mr William Wigham, who had bought James Roscoe Ltd in March 1913. Mr Wigham had agreed to give the book debts that were received up to a certain date to the sellers. He collected £455 but kept them in his account, so breaching his agreement and fiduciary duty to the company. He spent all but £25, but put in his own money so the balance on his death was £358. James Roscoe Ltd sued to recover all the money in the account, asking to trace the £358. Mr Winder argued the maximum must be only £25, because that was the lowest intermediate balance. Necessarily the other money had been dissipated, and the surplus cash would need to go to pay other creditors. Judgment Sargant J held the company could only trace £25, not £358. Once the money was spent, it was gone, down to the lowest bank balance in the interim. The debtor w ... [...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] |
Tracing In English Law
Tracing is a procedure in English law used to identify property (such as money) which has been taken from the claimant involuntarily or which the claimant wishes to recover. It is not in itself a way to recover the property, but rather to identify it so that the courts can decide what remedy to apply. The procedure is used in several situations, broadly demarcated by whether the property has been transferred because of theft, breach of trust, or mistake. Tracing is divided into two forms, common law tracing and equitable tracing.Parry, R. M. A.Reservation of Title: Can the Seller Trace? last updated 9 April 1999, archived 26 April 2005, accessed 18 November 2022 Common law tracing relies on the claimant having legal ownership of the property, and will fail if the property has been mixed with other property, the legal title has been transferred to the defendant, or the legal title has been transferred by the defendant to any further recipient of the property. Equitable tracing, o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charles Sargant
Sir Charles Henry Sargant (20 April 1856 – 23 July 1942) was a British judge who served as Lord Justice of Appeal from 1923 to 1928. Biography Sargant was born in London, the son of barrister and conveyancer Henry Sargant, and of Catherine Emma, daughter of Samuel Beale. Among his siblings were the painter Mary Sargant Florence and the botanist Ethel Sargant. He was a precocious child, and was said to have taught himself to read at the age of three. He was educated at Rugby School and New College, Oxford, where he took first-class honours in classical moderations (1876), second-class honours mathematical moderations (1877), and first-class honours in '' literae humaniores'' (1879). He was elected an honorary fellow of his college in 1919. After spending a year in a solicitors' firm, and reading as a pupil in the chambers of conveyancer Edward Parker Wolstenholme, he was called to the bar by Lincoln's Inn in 1882. After practicing as a conveyancer, he turned to court w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
In Re Hallett's Estate
''Re Hallett’s Estate'' (1880) 13 Ch D 696 is an English trusts law case, concerning asset tracing. Facts Mr Hallett, a solicitor, held bonds for Mrs Cotterill worth £2145 until he wrongfully sold them and put the proceeds in his current bank account, with Winning’s Bank, mixed with his own money. When he died the account had £3000. Judgment High Court Fry J was concerned with whether Mr Hallett had a fiduciary relation, given he held as a bailee, and not a trust, strictly speaking. He held the first in first out rule applied, following Pennell v Deffell (1853) 4 De GM&G 372, so that a large proportion of Mrs Cotterrill’s money was in fact already paid out. Court of Appeal Lord Jessel MR held that there was a fiduciary relationship, and the proceeds of the sale of the bonds could be traced. It then went back to determine how much could be traced. A trustee cannot say trust money is merely lost. He reversed Fry J and held that the claimants were entitled to an eq ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clayton's Case
''Devaynes v Noble'' (1816) 35 ER 781, best known for the claim contained in ''Clayton's case'', created a rule, or more precisely common law presumption, in relation to the distribution of money from a bank account. The rule is based upon the deceptively simple notion of ''first-in, first-out'' to determine the effect of payments from an account, and normally applies in English Law in the absence of evidence of any other intention. Payments are presumed to be appropriated to debts in the order in which the debts are incurred. Facts Mr. Clayton had an account with a banking firm, Devaynes, Dawes, Noble, and Co, that was a partnership rather than a joint stock company as modern banks almost always are. The bank's partners were therefore personally liable for the debts of the bank. One of the partners, William Devaynes, died in 1809. The amount then due to Clayton was £1,717. After Mr. Devaynes' death, Clayton made further deposits with the bank and the surviving partners pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Re Oatway
''Re Oatway'' 9032 Ch 356 is an English trusts law case, concerning tracing. Facts Mr Oatway was a trustee of Charles Skipper’s will. He took £3000 of trust money and mixed it with £4000 of his own. He used £2137 from the fund to buy shares in the Oceana Company, and dissipated the rest. Then he died. The beneficiaries of the Skipper trust wished to trace their money into the £2475 that were the proceeds of the shares. Judgment Joyce J held the beneficiaries could claim the proceeds of the shares. A trustee cannot say the purchased assets were not bought with trust money. This was just as true as that a trustee cannot rely on Clayton’s case to say that it was the beneficiary’s money taken out first and spent.903Ch 356, 360 See also * English trusts law *'' Turner v Jacob'' 006 Alec Trevelyan (006) is a fictional character and the main antagonist in the 1995 James Bond film '' GoldenEye'', the first film to feature actor Pierce Brosnan as Bond. Trevelyan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
In Re Stenning
IN, In or in may refer to: Places * India (country code IN) * Indiana, United States (postal code IN) * Ingolstadt, Germany (license plate code IN) * In, Russia, a town in the Jewish Autonomous Oblast Businesses and organizations * Independent Network, a UK-based political association * Indiana Northeastern Railroad (Association of American Railroads reporting mark) * Indian Navy, a part of the India military * Infantry, the branch of a military force that fights on foot * IN Groupe , the producer of French official documents * MAT Macedonian Airlines (IATA designator IN) * Nam Air (IATA designator IN) Science and technology * .in, the internet top-level domain of India * Inch (in), a unit of length * Indium, symbol In, a chemical element * Intelligent Network, a telecommunication network standard * Intra-nasal (insufflation), a method of administrating some medications and vaccines * Integrase, a retroviral enzyme Other uses * ''In'' (album), by the Outsiders, 1967 * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sinclair V Brougham
''Sinclair v Brougham'' 914AC 398 is an English trusts law case, concerning the right of depositors to recover sums which were deposited (or loaned) to a building society under contracts of deposit which were beyond the powers of (''ultra vires'') the building society. Facts The Birkbeck Permanent Benefit Society was formed under the Building Societies Act 1836, but was never registered under the Building Societies Act 1874. Under rule 35 of the Society’s constitution it was allowed to borrow money. Rule 97 said that losses should be shared among the two classes of shareholders in different proportions. From the start it developed a banking business, the Birkbeck Bank, but this was wound up in 1911. The four groups of creditors were (1) A shareholders who would be repaid on maturity, (2) B shareholders who had permanent shares (3) trade creditors and (4) depositors. The trade creditors and the A shareholders had their claims settled by an agreement. The liquidator brought a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Turner V Jacob
Turner may refer to: People and fictional characters *Turner (surname), a common surname, including a list of people and fictional characters with the name * Turner (given name), a list of people with the given name *One who uses a lathe for turning *Sean and Dorothy Turner are the protagonists of '' Servant'' as is their infant "son" Jericho. Places Australia *Turner, Australian Capital Territory * Turner River, Western Australia Canada *Turner, Ontario United States * Turner, Mississippi County, Arkansas * Turner, Phillips County, Arkansas *Turner, former name of Tuttle, California * Turner, Indiana * Turner, Kansas * Turner, Maine, a New England town **Turner (CDP), Maine, within the town of Turner * Turner, Michigan * Turner, Montana *Turner, Oregon *Turner, Washington * Turner, West Virginia * Turner Air Force Base, outside Albany, Georgia *Turner County, Georgia *Turner County, South Dakota Businesses *Turner Broadcasting System, part of WarnerMedia, managed a collection o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shalson V Russo
Peter Shalson (born February 1957) is a British businessman. Early life Peter Shalson was born in February 1957. He was educated at Hendon County School, and left at 16. Career Shalson made his first fortune in coat hangers and packaging materials. In 2005 owned 800 pubs, and had a net worth of £60 million. Personal life Shalson has three daughters from his first marriage, and one from his second. In 2003, he married for the third time, spending £5 million, hiring the Roundhouse in Camden for several weeks, and the musical entertainment was provided by Elton John (for £2 million) and Kool and the Gang. Shalson lives in St John's Wood, London, and in 2011 received 200 hours' community service after he twice fired at a neighbour's burglar alarm with a shotgun, and then forced his way into the house and smashed it. Shalson has been "hugely active" with the Presidents Club charity. He donated £1.5 million to the London Academy, a school in Edgware Edgware () is a su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foskett V McKeown
is a leading case on the English law of trusts, concerning tracing and the availability of proprietary relief following a breach of trust. Facts In breach of trust, Mr Murphy took £20,440 from a company he controlled. Over 200 investors (including one Mr Foskett) had invested in the company for the purpose of buying land in the Algarve, Portugal. The land had been bought, but not developed as promised. Mr Murphy used the trust money to pay off the fourth and fifth instalments on his life insurance policy. He had already paid the first two or three premiums with his own money. Mr Murphy committed suicide. His children (the Defendants) were paid the £1,000,000 under the insurance policy. Mr Foskett and the other investors (the Claimants) sued the Defendants, claiming a 40% share in the policy monies. The Claimants argued they had a proprietary interest in the insurance monies: the insurance policy had been purchased using a proportion of misapplied trust funds. The Defen ... [...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] |
