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#certainties #equity #law
A trust cannot arise if the relevant language reveals that the payer of money to a payee only intended a debtor-creditor relationship to arise, the payee being free to mix the money with his own and deal with it as he pleases, as in Azam v Iqbal [2007 EWHC 2025 Admin, rather than retain the money as a separate fund. However, T being free to mingle received moneys with moneys of others is consistent with a trust of the mixed fund where the segregated mixed fund is held as a pooled investment on trust for the payers in proportionate co-owned shares (Re Lewis’s of Leicester Ltd [1995] 1 BCLC 428) or where the amount in the mixed fund is not to fall below the amount of the money paid in for a temporary period, e.g. before being paid into a separate account
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