ained that a constructive trust will be imposed in circumstances where the conduct of the parties is such that it can easily be inferred that there was a quid pro quo agreement between them.2 In other words there must be an agreement between the parties that when one party acts to his own detriment under the reasonable understanding that he/she would acquire an interest in the property and agreement to this extent will be inferred.
. On the facts of the case for discussion, the decision for Barry to give up his work and look after John’s child from a previous relationship appears to be a joint decision. It also appears that the arrangements were such as to facilitate John’s job with the understanding that he would take care of Barry. At this stage there were no discussions about Barry acquiring an interest in the house, so it cannot be determined at this stage that the parties had an agreement that Barry would by giving up work and minding the child would acquire an interest in the property. However, when Barry brings the subject up, John reassures Barry that the only reason the property is not placed in their joint names is because it would compromise his divorce settlement. He also goes on to reassure Barry that he will always take care of him. These latter reassurances can be interpreted as a promise that Barry would acquire an interest in the property should they retain the status quo. Moreover a similar scenario arose in Grant v Edwards where the male cohabitant told the female cohabitant that the only reason the property was not in their joint names was because it would have compromised his divorce proceedings it was held that the statement was evidence of a shared intention that the female inhabitant would acquire an interest in the home.3
The presumption in law is therefore that the parties had a shared intention that Barry by continuing to remain at home, taking care of the child would be rewarded by his acquiring an equitable interest in ...
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Oerton). The question demands a discussion on the settled principle of law that equity will not perfect, imperfect gifts made by the settlers or the donors. A settlor may give a gift by three methods: (1) an outright transfer; (2) a transfer on trust to a trustee; or (3) a self-declaration of trust.
Being an executive of a big corporation, I need to understand the fact that I have a responsibility to create value for share holders through profit maximization but at the same time not violate the human values and behavior that the society desires from us.
The resultant appeals would then be heard by the Lord Chancellor, a clergy who was the principle minister by then1. Although the principles of Trust and Equity would later be transformed into the rigid practices of the Crown Courts, recent times have realized more widespread application of the principles of equity and trust, more so in civil cases.
Conceptually, the transfer of any kind of property from one individual to the other is termed as a ‘gift’ in accordance with the legal propositions. The court usually determines the value of the gift on the basis of three elements that include the actual delivery of the gift, intention of the donor who is presenting the gift and the acceptance of the gift by the receiver1.
It seems that equity resides upon the appreciation of trusts, as trust depends upon equity's decisions to solve its concerns. Most resulting trusts requires equity to solve their matters in one of two situations: (i) where there has been an apparent gift of property or (ii) where an express trust has failed to dispose of all of the trust property.
Equity can be defined as a system of doctrines and procedures which developed side by side with the common law and statute law . Also equity is the degree to which one party judges that another party will fulfill its commitments and that the relationship is equitable. It is assumed that there is a reciprocal relationship between equity and trust.
Under English law, the presumption of community of ownership does not exist. This is true even with respect to couples who are married and have shared together a long, stable life. The law takes an objective
With trust there is the creation of equity.
Equity can be described as being the fairness or justice.1 This is a body of law that evolved in the courts of chancery. The law of trust is one of the most crucial creations of the court of Chancery, which is responsible
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