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Vandervell V Inland Revenue Commissioners
''Vandervell v Inland Revenue Commissioners'' 9672 AC 291 is a leading English trusts law case, concerning resulting trusts. It demonstrates that the mere intention to not have a resulting trust (for example, to avoid taxes) does not make it so. This case was the first in a series of decisions involving Tony Vandervell's trusts and his tax liability. It concerned whether an oral instruction to transfer an equitable interest in shares complied with the writing requirement under Law of Property Act 1925, section 53(1)(c), and so whether receipt of dividends was subject to tax. The second was '' Re Vandervell Trustees Ltd'', which involved the Special Commissioner of the Inland Revenue's ability to amend tax assessments. The third was Re Vandervell Trustees Ltd (No 2), which concerned whether Vandervell could be taxed because he could have an equitable interest through a resulting trust if he had exercised an option right. Facts Tony Vandervell was a wealthy racing car manufacturer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edward Pearce, Baron Pearce
Edward Holroyd Pearce, Baron Pearce, (9 February 1901 – 26 November 1990) was a British barrister and judge. He served as a Lord of Appeal in Ordinary from 1962 until 1969. In 1971–72, he chaired the Pearce Commission, which was charged with testing the acceptability of a proposed constitutional settlement in Rhodesia. Early life and career Edward Holroyd Pearce was born in Sidcup in Kent, the eldest child (he was followed by three sisters) of John William Ernest Pearce, headmaster of a preparatory school, and Irene Pearce, ''née'' Chaplin, daughter of daughter of Holroyd Chaplin. He was educated at Charterhouse School and Corpus Christi College, Oxford, of which he was a scholar and where he took a First in Honour Moderations in 1921 and a Third in '' literae humaniores'' in 1923. He was elected an honorary fellow of Corpus Christi in 1950. Called to the bar by Lincoln's Inn and the Middle Temple in 1925, he practiced in the King's Bench and Probate, Divorce an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Westdeutsche Landesbank Girozentrale V Islington London Borough Council
is a leading English trusts law case concerning the circumstances under which a resulting trust arises. It held that such a trust must be intended, or must be able to be presumed to have been intended. In the view of the majority of the House of Lords, presumed intention to reflect what is conscionable underlies all resulting and constructive trusts. The decision was arguably the most significant of all of the local authorities swaps litigation cases. Facts The Westdeutsche Landesbank Girozentrale sued Islington LBC for the return of £1,145,525, which included compound interest, as money that it had paid under an interest rate swap agreement with the council. Interest rate swap agreements had been declared by the House of Lords, a few years earlier in ''Hazell v Hammersmith and Fulham LBC'', to be ''ultra vires'' and void because they exceeded councils' borrowing powers under the Local Government Act 1972. The council accepted that it should repay the money it had received ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1966 In British Law
Events January * January 1 – In a coup, Colonel Jean-Bédel Bokassa takes over as military ruler of the Central African Republic, ousting President David Dacko. * January 3 – 1966 Upper Voltan coup d'état: President Maurice Yaméogo is deposed by a military coup in the Republic of Upper Volta (modern-day Burkina Faso). * January 10 ** Pakistani–Indian peace negotiations end successfully with the signing of the Tashkent Declaration, a day before the sudden death of Indian prime minister Lal Bahadur Shastri. ** Georgia House of Representatives, The House of Representatives of the US state of Georgia refuses to allow African-American representative Julian Bond to take his seat, because of his anti-war stance. ** A Commonwealth Prime Ministers' Conference convenes in Lagos, Nigeria, primarily to discuss Rhodesia. * January 12 – United States President Lyndon Johnson states that the United States should stay in South Vietnam until Communism, Communist aggression there is e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1966 In Law
Events January * January 1 – In a coup, Colonel Jean-Bédel Bokassa takes over as military ruler of the Central African Republic, ousting President David Dacko. * January 3 – 1966 Upper Voltan coup d'état: President Maurice Yaméogo is deposed by a military coup in the Republic of Upper Volta (modern-day Burkina Faso). * January 10 ** Pakistani–Indian peace negotiations end successfully with the signing of the Tashkent Declaration, a day before the sudden death of Indian prime minister Lal Bahadur Shastri. ** The House of Representatives of the US state of Georgia refuses to allow African-American representative Julian Bond to take his seat, because of his anti-war stance. ** A Commonwealth Prime Ministers' Conference convenes in Lagos, Nigeria, primarily to discuss Rhodesia. * January 12 – United States President Lyndon Johnson states that the United States should stay in South Vietnam until Communist aggression there is ended. * January 15 – 1966 Nigerian coup d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Of Lords Cases
A house is a single-unit residential building. It may range in complexity from a rudimentary hut to a complex structure of wood, masonry, concrete or other material, outfitted with plumbing, electrical, and heating, ventilation, and air conditioning systems.Schoenauer, Norbert (2000). ''6,000 Years of Housing'' (rev. ed.) (New York: W.W. Norton & Company). Houses use a range of different roofing systems to keep precipitation such as rain from getting into the dwelling space. Houses may have doors or locks to secure the dwelling space and protect its inhabitants and contents from burglars or other trespassers. Most conventional modern houses in Western cultures will contain one or more bedrooms and bathrooms, a kitchen or cooking area, and a living room. A house may have a separate dining room, or the eating area may be integrated into another room. Some large houses in North America have a recreation room. In traditional agriculture-oriented societies, domestic animals such a ... [...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] |
Twinsectra Ltd V Yardley
is a leading case in English trusts law. It provides authoritative rulings in the areas of ''Quistclose'' trusts and dishonest assistance. Facts Twinsectra Ltd sued an entrepreneur, Mr Yardley, and two solicitors, Mr Sims and Mr Paul Leach (of Godalming), for failing to repay a £1m loan. Twinsectra Ltd had given £1m to Mr Sims to pass onto Mr Yardley as a loan for buying real estate near Apperley Bridge, Bradford. Twinsectra Ltd had said it would only give the loan if someone guaranteed Mr Yardley's repayment. Mr Yardley's solicitor, Mr Leach, refused to give the guarantee, but Mr Sims accepted. Mr Sims had owed £1.5m to Mr Yardley from previous dealings. They agreed that if Mr Sims took the loan into his account first, the prior debts would be considered repaid. Mr Sims promised Twinsectra Ltd to not release the money unless the loan conditions were satisfied. The clause read as follows. However, Mr Sims then gave the money to Mr Yardley’s solicitor anyway (Mr Leach), w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barclays Bank Ltd V Quistclose Investments Ltd
(sub nom ''Quistclose Investments Ltd v Rolls Razor Ltd'') is a leading property, unjust enrichment and trusts case, which invented a new species of proprietary interest in English law. A "Quistclose trust" arises when an asset is given to somebody for a specific purpose and if, for whatever reason, the purpose for the transfer fails, the transferor may take back the asset. If a debtor undertakes to use the loan in a particular way and segregates the creditor's money from his general assets, and the debtor becomes insolvent, the creditor's money is refundable and is not available to pay the debtor's other creditors. If the trust fails (because the purpose is not or cannot be fulfilled), the sums become subject to a resulting trust in favour of the person who originally advanced the credit and the person to whom the sums were advanced holds them as trustee. Facts Rolls Razor Ltd owed £484,000 to Barclays Bank Ltd. It still needed more money to pay a dividend, which it had dec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Air Jamaica Ltd V Charlton
''Air Jamaica Ltd v Charlton'' 999UKPC 20is an English trusts law case, concerning resulting trusts. In it Lord Millett expressed the view that a resulting trust arises because of the absence of intention to benefit a recipient of money. Facts Air Jamaica Ltd had set up a pension trust for the benefit of its employees, funded by contributions from its employees' salaries. When the company was privatised, J$400 million was left over in the pension fund. Clause 4 of the pension deed provided that ‘No moneys which at any time have been contributed by the Company under the terms hereof shall in any circumstances be repayable to the Company’. Air Jamaica Ltd wished to remove clause 4, and change clause 13.3 to say that surpluses would be held on trust for the company. The Judge held that clause 13.3 was void, going against the rule against perpetuity, and so the surplus passed on trust as ''bona vacantia'' to the Crown. The Court of Appeal held that the surplus should be dealt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tribe V Tribe
is an English trusts law case, concerning resulting trusts, the presumption of advancement and illegality. Facts A father transferred company shares to his son (presumption of advancement) to preserve them for the family’s benefit because he could be soon liable for dilapidations under commercial leases. It turned out he was not liable. The son refused to re-transfer shares. Judgment The Court of Appeal held that the father could demand return of the shares, because his illegal scheme had not in fact been carried into effect. Millett LJ said it was true that an illegal purpose cannot rebut the presumption of advancement, but because the illegal purpose had not been carried out, the father was not precluded of pleading the purpose to claim a resulting trust. See also *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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tinsley V Milligan
is an English trusts law case, concerning resulting trusts, the presumption of advancement and Illegality in English law, illegality. The decision was criticised as "creating capricious results". It has now been overruled by . Facts Miss Tinsley sought possession of a house that was solely in her name. Her relationship with her partner, Miss Milligan, had come to an end. Miss Milligan had been living there and had contributed to the purchase price. It had been in Tinsley’s name alone when they bought it, as a way of claiming more in social security. Milligan later repented and confessed to the benefit fraud. Then Tinsley moved out and sought possession of the house, arguing she was solely entitled. Miss Milligan pleaded that it was the common intention that the property should belong to both of them (and so did not need to rely on the illegality). Judgment The Judicial Committee of the House of Lords, House of Lords held that because Miss Milligan could invoke the presumptio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Re Vandervell's Trusts (No 2)
''Re Vandervell Trustees Ltd (No 2)'' 974EWCA Civ 7is a leading English trusts law case, concerning resulting trusts. This was the third decision concerning Tony Vandervell's will. The first was '' Vandervell v Inland Revenue Commissioners'', where the House of Lords was concerned with whether an oral instruction to transfer an equitable interest in shares complied with the writing requirement under Law of Property Act 1925 section 53(1)(c), and so whether receipt of dividends was subject to tax. The second was '' In re Vandervell's Trusts'', which involved the Special Commissioner of the Inland Revenue's ability to amend tax assessments. Facts Tony Vandervell, a wealthy racing car manufacturer, was attempting to make a donation to the Royal College of Surgeons to establish a chair in his name. Since large donations were taxed at the time, he granted the College a number of shares in his company, and paid dividends on those shares, which the College (being a charity), would rece ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
