''Buttle v Saunders''
950
Year 950 ( CML) was a common year starting on Tuesday (link will display the full calendar) of the Julian calendar.
Events
By place
Byzantine Empire
* Arab–Byzantine War: A Hamdanid army (30,000 men) led by Sayf al-Dawla raids int ...
2 All ER 193 is an
English trusts law case, which held that a trustee has a duty to
gazump
Gazumping occurs when a seller (especially of property) accepts a verbal offer (a promise to purchase) on the property from one potential buyer, but then accepts a higher offer from someone else. It can also refer to the seller raising the asking ...
, or break an agreement which has not quite been completed into a formal and binding contract.
Facts
The defendant trustee agreed to sell Mrs Simpson some land for £6,142. A beneficiary of the trust then offered £6,500 for the same land. The trustee refused, since he had already come to an informal agreement with Mrs Simpson. The beneficiary applied for an injunction against the sale to Mrs Simpson, alleging the duty was to obtain the highest price.
Judgment
Wynn-Parry J granted the injunction saying,
See also
*''
Cowan v Scargill
''Cowan v Scargill'' 985Ch 270 is an English trusts law case, concerning the scope of discretion of trustees to make investments for the benefit of their members. It held that trustees cannot ignore the financial interests of the beneficiaries.
...
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Notes
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References
*
English trusts case law
High Court of Justice cases
1950 in British law
1950 in case law