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#certainties #equity #law
Mac-Jordan Construction Ltd v Brookmount Erostin Ltd [1992] BCLC 350 (CA). A building contract provided that part of the contract price would be retained and held by the employer as trustee for the builder. The employer became insolvent. The builder claimed the retention money in priority to other creditors. It was held that there was no trust because no retention fund had been set up, so no identifiable assets had been impressed with a trust.
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