R v Hall [1972] 2 All ER 1009 FACTS: The defendant, a travel agent, took money for flights. Instead of using the money to buy airline tickets, he put it into the business account and it was used to pay off his creditors. Subsequently, the defendant went bankrupt and the customers lost the money they had paid to him. HELD: The Court of Appeal held that the TA 1968, s 5(3) did not apply because it was not established that his clients expected him to retain and deal with the money in a particular way, or that an obligation to do so was undertaken by him. Although the clients expected tickets in return for their money, they did not expect their the money to be kept separately, but rather to go towards the general running of the business.