In [ case ],T mixed £3,000 of trust money with over £4,000 of his own. He then spent £2137 to buy some Oceana shares for himself when he was not entitled to do this unless and until he had restored the £3000 to the trust, so he could not claim entitlement to the shares. He dissipated the rest of the money in the account. Applying Re Hallett’s Estate as to the imposition of a charge over the fund, Joyce J held that the beneficiaries were entitled to a charge on the Oceana shares (which were worth more than their purchase price but less than the trust money paid into the account).
Answer
Re Oatway [1903] 2 Ch 356
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#equity #law #tracing
Question
In [ case ],T mixed £3,000 of trust money with over £4,000 of his own. He then spent £2137 to buy some Oceana shares for himself when he was not entitled to do this unless and until he had restored the £3000 to the trust, so he could not claim entitlement to the shares. He dissipated the rest of the money in the account. Applying Re Hallett’s Estate as to the imposition of a charge over the fund, Joyce J held that the beneficiaries were entitled to a charge on the Oceana shares (which were worth more than their purchase price but less than the trust money paid into the account).
Answer
?
Tags
#equity #law #tracing
Question
In [ case ],T mixed £3,000 of trust money with over £4,000 of his own. He then spent £2137 to buy some Oceana shares for himself when he was not entitled to do this unless and until he had restored the £3000 to the trust, so he could not claim entitlement to the shares. He dissipated the rest of the money in the account. Applying Re Hallett’s Estate as to the imposition of a charge over the fund, Joyce J held that the beneficiaries were entitled to a charge on the Oceana shares (which were worth more than their purchase price but less than the trust money paid into the account).
Answer
Re Oatway [1903] 2 Ch 356
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Open it In Re Oatway [1903] 2 Ch 356,T mixed £3,000 of trust money with over £4,000 of his own. He then spent £2137 to buy some Oceana shares for himself when he was not entitled to do this unless and until he had resto
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