''Taylor v Plumer''
EWHC KB J84is an
815
EWHC KB J84is an
tracing
Tracing may refer to:
Computer graphics
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of assets which were wrongfully taken in breach of trust.
Facts
Sir Thomas Plumer gave his broker">Thomas Plumer">Sir Thomas Plumer gave his broker, Mr Walsh, a draft on his bankers for £22,200 to invest in exchequer bills. Mr Walsh cashed the draft, and got bank notes. He bought £6500 in exchequer bills, and with the balance he got American securities, paying with the bank notes. But he gave one note to his brother in law, in return for his bankers' draft of £500. He then bought 71½
doubloons
The doubloon (from Spanish ''doblón'', or "double", i.e. ''double escudo'') was a two-''escudo'' gold coin worth approximately $4 (four Spanish dollars) or 32 '' reales'',
and weighing 6.766 grams (0.218 troy ounce) of 22-karat gold (or 0.917 fi ...
, with the intention of escaping to North America via
Lisbon
Lisbon (; pt, Lisboa ) is the capital and largest city of Portugal, with an estimated population of 544,851 within its administrative limits in an area of 100.05 km2. Grande Lisboa, Lisbon's urban area extends beyond the city's administr ...
. Sir Thomas' attorney caught him at
Falmouth, and secured a return of the American securities and bullion. Mr Walsh was indicted, tried, found guilty, but pardoned, and then declared bankrupt. His assignees in bankruptcy brought an action in
trover against Sir Thomas.
Judgment
Lord Ellenborough held that Sir Thomas had never ceased to be the lawful proprietor.
Although decided in a
common law
In law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions."The common law is not a brooding omnipresen ...
court, Millett LJ in ''Jones v Jones'' noted that it was in fact decided under
equitable principles. But Millett LJ further noted that substitution has been acknowledged under common law anywhow, for example in ''Bankque Belge v Hambrouck''.
[Bankque Belge v Hambrouck ]921
__NOTOC__
Year 921 ( CMXXI) was a common year starting on Monday (link will display the full calendar) of the Julian calendar.
Events
By place
Byzantine Empire
* March – Battle of Pegae: Bulgarian forces under ''kavhan'' (first ...
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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, and share a subsequent history with countries across the ...
References
{{reflist
English trusts case law
1815 in case law
Court of Chancery cases
1815 in British law