In [ case ], Mr Rose executed two transfers of shares in a private company on 30 March 1943, one by way of gift and the other to trustees. The transfers and share certificates were delivered to the transferees but the directors did not register the transfers until 30 June 1943. It was necessary for estate duty purposes to know when the transfers became effective. Even though legal title did not pass until registration, the Court of Appeal held that the transfers were effective in equity once Mr Rose had done everything in his power to vest the shares in the transferees. Pending registration, the settlor held the legal title to the shares on constructive trust for the transferees. What then would have happened if the directors had refused to register the transfer? The legal title would remain with the settlor but he would have to pay the dividend income to the transferees and vote as directed by them.
Answer
Re Rose [1952] Ch 499
Tags
#constitution #equity #law
Question
In [ case ], Mr Rose executed two transfers of shares in a private company on 30 March 1943, one by way of gift and the other to trustees. The transfers and share certificates were delivered to the transferees but the directors did not register the transfers until 30 June 1943. It was necessary for estate duty purposes to know when the transfers became effective. Even though legal title did not pass until registration, the Court of Appeal held that the transfers were effective in equity once Mr Rose had done everything in his power to vest the shares in the transferees. Pending registration, the settlor held the legal title to the shares on constructive trust for the transferees. What then would have happened if the directors had refused to register the transfer? The legal title would remain with the settlor but he would have to pay the dividend income to the transferees and vote as directed by them.
Answer
?
Tags
#constitution #equity #law
Question
In [ case ], Mr Rose executed two transfers of shares in a private company on 30 March 1943, one by way of gift and the other to trustees. The transfers and share certificates were delivered to the transferees but the directors did not register the transfers until 30 June 1943. It was necessary for estate duty purposes to know when the transfers became effective. Even though legal title did not pass until registration, the Court of Appeal held that the transfers were effective in equity once Mr Rose had done everything in his power to vest the shares in the transferees. Pending registration, the settlor held the legal title to the shares on constructive trust for the transferees. What then would have happened if the directors had refused to register the transfer? The legal title would remain with the settlor but he would have to pay the dividend income to the transferees and vote as directed by them.
Answer
Re Rose [1952] Ch 499
If you want to change selection, open original toplevel document below and click on "Move attachment"
Parent (intermediate) annotation
Open it In Re Rose [1952] Ch 499, Mr Rose executed two transfers of shares in a private company on 30 March 1943, one by way of gift and the other to trustees. The transfers and share certificates were delivered to the
Original toplevel document (pdf)
cannot see any pdfs
Summary
status
not learned
measured difficulty
37% [default]
last interval [days]
repetition number in this series
0
memorised on
scheduled repetition
scheduled repetition interval
last repetition or drill
Details
No repetitions
Discussion
Do you want to join discussion? Click here to log in or create user.