|
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] |
Court Of Appeal Of England And Wales
The Court of Appeal (formally "His Majesty's Court of Appeal in England", commonly cited as "CA", "EWCA" or "CoA") is the highest court within the Courts of England and Wales#Senior Courts of England and Wales, Senior Courts of England and Wales, and second in the legal system of England and Wales only to the Supreme Court of the United Kingdom. The Court of Appeal was created in 1875, and today comprises 39 Lord Justices of Appeal and Lady Justices of Appeal. The court has two divisions, Criminal and Civil, led by the Lord Chief Justice of England and Wales, Lord Chief Justice and the Master of the Rolls, Master of the Rolls and Records of the Chancery of England respectively. Criminal appeals are heard in the Criminal Division, and civil appeals in the Civil Division. The Criminal Division hears appeals from the Crown Court, while the Civil Division hears appeals from the County Court (England and Wales), County Court, High Court of Justice and Family Court (England and Wales ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Jessel (jurist)
Sir George Jessel, (13 February 1824 – 21 March 1883) was a British judge. He was one of the most influential commercial law and equity judges of his time, and served as the Master of the Rolls. He was the first Jew to be a regular member of the Privy Council and to hold high judicial office. Early life and education Born in Savile Row, London, Jessel was the son of Zadok Aaron Jessel, a Jewish merchant, and his wife Mary, ''née'' Harris. He was educated at Mr Neumegen's School for Jews at Kew, and being prevented by religious disabilities from proceeding to the University of Oxford or Cambridge, went to University College London, matriculating in 1840. He entered Lincoln's Inn as a student in 1842, and a year later took his BA at the University of London, becoming MA and gold medallist in mathematics and natural philosophy in 1844. In 1846 he was elected a fellow of University College, London. He entered Lincoln's Inn in 1842 as a student and was called to the bar in 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Baggallay
Sir Richard Baggallay Privy Council of the United Kingdom, PC (1816 – 1888) was a British barrister, politician, and judge. After serving as Attorney General for England and Wales, Attorney-General under Benjamin Disraeli from 1874 to 1875, Baggallay was appointed a Lord Justice of Appeal in Chancery (Lord Justice of Appeal from 1877), serving until his death in 1883. Background and education Baggallay was one of the sons of Richard Baggallay, of Stockwell, a member of the Worshipful Company of Merchant Taylors, Merchant Taylors' Company and a significant warehouseman of the City of London (d.1870, will sworn at under £30,000). He attended Gonville and Caius College, Cambridge where he graduated with a BA in 1839 followed by an MA in 1842. He was Call to the Bar, called to the Bar, Lincoln's Inn, in 1843. Political and legal career Bagallay sat as a Conservative Party (UK), Conservative Party Member of Parliament (United Kingdom), Member of Parliament (MP) for Hereford (UK ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alfred Thesiger
Alfred Henry Thesiger PC QC (15 July 1838 – 20 October 1880), styled The Hon. Alfred Thesiger from 1858 to 1877 and The Rt Hon. Lord Justice Thesiger from 1877, was a British lawyer and judge. Early life Thesiger was the third son of Lord Chancellor Frederic Thesiger, 1st Baron Chelmsford, by his wife Anna Maria (née Tinling). He played one first-class cricket match for the Marylebone Cricket Club in 1861. Career He was Attorney-General to the Prince of Wales and was appointed a Queen's Counsel in 1873. In 1877, at the age of 37, he was made a Lord Justice of Appeal and sworn of the Privy Council. In the summer of 1877 Thesiger, took on the Arbitration of Doctor Thomas Barnardo as his legal counsel at the behest of the Evangelical Lord Chancellor, Lord Cairns. (p. 105 ''"Slumming" Seth Koven'') Judgments *''The Household Fire and Carriage Accident Insurance Company (Limited) v Grant'' (1878–79) LR 4 Ex D 216 - English contract law concerning the "postal rule", and con ... [...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] |
Bond (finance)
In finance, a bond is a type of security under which the issuer ( debtor) owes the holder ( creditor) a debt, and is obliged – depending on the terms – to repay the principal (i.e. amount borrowed) of the bond at the maturity date as well as interest (called the coupon) over a specified amount of time. The interest is usually payable at fixed intervals: semiannual, annual, and less often at other periods. Thus, a bond is a form of loan or IOU. Bonds provide the borrower with external funds to finance long-term investments or, in the case of government bonds, to finance current expenditure. Bonds and stocks are both securities, but the major difference between the two is that (capital) stockholders have an equity stake in a company (i.e. they are owners), whereas bondholders have a creditor stake in a company (i.e. they are lenders). As creditors, bondholders have priority over stockholders. This means they will be repaid in advance of stockholders, but will rank behind s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edward Fry
Sir Edward Fry, (4 November 1827 – 19 October 1918) was an English Lord Justice of Appeal (1883–1892) and an arbitrator on the Permanent Court of Arbitration. Biography Joseph Fry (1795-1879) and Mary Ann Swaine were his parents. He was a Quaker from a prominent Bristol family which founded and owned the chocolate firm J. S. Fry & Sons. His grandfather was Joseph Storrs Fry (1767–1835) and his brothers included a second Joseph Storrs Fry (1826-1913) who ran the firm and Lewis Fry (1832-1921) who was a politician. He was called to the bar in 1854, took silk in 1869 and became a judge in Chancery in 1877, receiving the customary knighthood. He was raised to the Court of Appeal in 1883, and was sworn of the Privy Council. He retired in 1892. Retirement from the court did not mean retirement from legal work. He sat on some cases in the Judicial Committee of the Privy Council. In 1897 he accepted an offer to preside over the royal commission on the Irish Land Acts. ... [...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] |
Judicial Functions Of The House Of Lords
Whilst the House of Lords of the United Kingdom is the upper chamber of Parliament and has government ministers, it for many centuries had a judicial function. It functioned as a court of first instance for the trials of peers, for impeachments, and as a court of last resort in the United Kingdom and prior, the Kingdom of Great Britain and the Kingdom of England. Appeals were technically not to the House of Lords, but rather to the King-in-Parliament. In 1876, the Appellate Jurisdiction Act devolved the appellate functions of the House to an Appellate Committee, composed of Lords of Appeal in Ordinary (informally referred to as Law Lords). They were then appointed by the Lord Chancellor in the same manner as other judges. During the 20th and early 21st century, the judicial functions were gradually removed. Its final trial of a peer was in 1935, and in 1948, the use of special courts for such trials was abolished. The procedure of impeachment became seen as obsolete. In 2009, t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter Millett, Baron Millett
Peter Julian Millett, Baron Millett, , (23 June 1932 – 27 May 2021) was a British barrister and judge. He was a Lord of Appeal in Ordinary from 1998 to 2004. Biography Early life The son of Denis and Adele Millett, he was educated at Harrow School, London, and at Trinity Hall, Cambridge, where he received a Master of Arts in Classics and Law in 1954, graduating with a Double First. From 1955 to 1957 he served as a Flying Officer in the Royal Air Force. He was awarded an honorary fellowship by Queen Mary, University of London in 2012. Legal career Millett was called to the bar at Middle Temple in 1955. In 1959, he joined Lincoln's Inn, where he was appointed a bencher in 1980. From 1958 to 1986 he practised at the Chancery Bar and was examiner and lecturer in practical conveyancing at the Council of Legal Education from 1962 to 1976. Between 1967 and 1973, Millett was junior counsel at the Department of Trade and Industry in chancery matters, and between 1971 and 1975 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> Bond (finance)")
