Table Of Content

COOMA. LAU & LOH LIBRARY FIDUCIARY OBLIGATIONS UNITED KINGDOM Sweet & Maxwell Ltd. London CANADA AND U.S.A. by The Carswell Company Ltd. Agincourt, Ontario P. D. FINN B.A., LLB. (Qld), LL.M. (Lond.), Ph.D. (Cantab.) NEW ZEALAND Senior Lecturer in Law, The Australian National University Sweet & Maxwell (N.Z.) Ltd. Wellington Cooma, Lau & Loh HONG KONG LlBftf\.RY Swindon Book Company Hong Kong K<:a·l PIN PAKISTAN Pakistan Law House 10 DEC 1988 Karachi 221 SINGAPORE: MALAYSIA: BRUNEI Malayan Law Journal (Pte) Ltd. Singapore THE LAW BOOK COMPANY LIMITED SYDNEY MELBOURNE BRISBANE PERTH 1977 Published in Sydney by The Law Book Company Limited 301-305 Kent Street, Sydney 389-393 Lonsdale Street, Melbourne 27-35 Turbot Street, Brisbane PREFACE 6 Sherwood Court, Perth The sole purpose-and justification-of this book is to fill a gap in the writings on Equity. Unlike trusts and equitable remedies, fiduciary obli gations have escaped sustained attention by legal commentators. It is hoped that the following pages will serve to dispel many of the miscon ceptions and mysteries which currently bedevil this branch of the law. National Library of Australia Insofar as a seemingly amorphous mass of case law has permitted, I have Cataloguing-in-Publication entry attempted to outline the general principles and rules which inform judicial supervision of fiduciaries. Consequently I have not concerned myself with Finn, Paul D. presenting a description of the possible fiduciary incidents of particular Fiduciary obligations. legal relationships such as principal and agent or trustee and beneficiary. Index. Indeed, in my view, these "incidents" can only be understood properly after ISBN O 455 19589 7. one first divines the purport and nature of Equity's regulation of fiduciaries. And thus one must go back to the general rules and principles. 1. Trusts and trustees-Australia. 2. Fiducia. The manner in which the case law has been packaged and presented here I. Title. simply represents my own appreciation of the existing law. Doubtless others 346.94059 may see it differently. In coming to my conclusions I have benefited greatly from the comments, doubts and criticisms of others-particularly from Professor Gareth Jones of Trinity College, Cambridge, Dr L. S. Sealy of Gonville & Caius College, Cambridge, W. A. Lee of the University of Queensland, and my wife and colleague Mary. For typing the manuscript, proof reading and preparation of tables, I must thank Mrs Denise Ho kin of Queensland University and Mark Richardson of the Australian National University. The law is stated as at August 1976. © The Law Book Company Limited 1977 P.D.F. This book is copyright. Apart from fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part m_ay. be August, 1976 reproduced by any process without written permission. Inquiries should be addressed to the publisher. Typeset by Queensland Type Service Pty Ltd, Brisbane. Printed by Hogbin, Poole (Printers) Pty. Ltd., Redfern. N.S.W. v :"""f-.-.- TABLE OF CONTENTS PAGE Preface . v Table of Cases . xiii Table of Statutes . xxxiii CH. 1. FIDUCIARIES : . Fiduciary Powers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Standards of Loyalty and Fidelity . . . . . . . . . . . . . . . . . . . . . . . . . 3 PART I FIDUCIARY OFFICES AND THE FIDUCIARY'S DUTY TO ACT HONESTLY IN WHAT HE ALONE CONSIDERS TO BE THE INTERESTS OF HIS BENEFICIARIES CH. 2. THE FIDUCIARY OFFICE............................... 8 1. A Position which Exists for the Benefit of Others. . . . . . . . . . 9 2. The Source of the Fiduciary's Powers and Duties . . . . . . . . . 12 3. The Fiduciary Alone Determines how the Interests of his Beneficiaries are to be Served . . . . . . . . . . . . . . . . . . . . . . . . . . 13 CH. 3. THE FIDUCIARY OBLIGATION . . . . . . . . . . . . . . . . . . . . . . . . . . 15 CH. 4. APPOINTMENTS To FIDUCIARY OFFICES. . . . . . . . . . . . . . . . . . 18 CH. 5. DELEGATION OF DISCRETIONS. . . . . . . . . . . . . . . . . . . . . . . . . . 20 CH. 6. ACTING UNDER DICTATION . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 The Fiduciary's Autonomy... . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 "Having Regard to Beneficiaries' Wishes" . . . . . . . . . . . . . . . . . . 23 CH. 7. FETTERING DISCRETIONS . 25 The Limits of the Rule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 The Proper Time to Exercise a Discretion . . . . . . . . . . . . . . . . . . 27 The Consequences of an Improper Fetter. . . . . . . . . . . . . . . . . . . 30 The Release of Powers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Covenants not to Exercise Powers. . . . . . . . . . . . . . . . . . . . . . . . . 33 CH. 8. THE DUTY To CONSIDERW HETHER A DISCRETION SHOULD BE EXERCISED . 34 The Duty to Consider and Exercises of Power Devoid of any Exercise of Discretion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 CH. 9. JUDICIAL REVIEW OF THE EXERCISEO F DISCRETION . 38 Judicial Review And The Fiduciary Obligation . . . . . . . . . . . . . . . . . 38 The Fiduciary as Donee of Limited Powers . . . . . . . . . . . . . . . . . 39 The Fiduciary as Fiduciary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 CH. 10. THE REQUIREMENTSO F THE FIDUCIARY OBLIGATION IN EXERCISING A DISCRETION. . . . . . . . . . . . . . . . . . . . . . . . . . 45 The Four Duties........................ . . . . . . . . . . . . . . . . 45 vii viii TABLE OF CONTENTS TABLE OF CONTENTS ix PAGE PAGE CH. 11. THE FIDUCIARY'S DuTY NoT To Acr FoR His OwN B. Fiduciary Positions and Property Other Than Money-Limited BENEFIT OR FOR THE BENEFIT OF ANY THIRD PERSON. .. 47 Right of Beneficial User . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95 1. Partnerships. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95 Own Benefit · · · · · · · · · · · · · · · · · 47 2. Fiduciary Positions in General . . . . . . . . . . . . . . . . . . . . . . . . . 98 1. Powers Authorising a Personal Interest . 49 2. Incidental Benefits which are Inevitable Consequences of C. Fiduciary Position and Money-No Right of Beneficial User... 99 Exercising a Power . 49 1. "Trusts" in General . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99 3. The Personal Interest Disclosed . 51 2. Trusts of Money Received from Another, or for or on his Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101 Benefi.!s To T?/rd Person_s . 51 1. Group Companies ; . 52 D. Fiduciary Positions and Money-Limited Rights of Beneficial 2. Third Persons and "The Interests of the Company" . 53 User . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 3. Nominee Directors . 54 1. Loan-type Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 2. Other Fiduciary Positions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 CH. 12. THE DUTY To TREAT BENEFICIARIESO F THE SAME CLASS EQUALLY ,·, . 56 CH. 18. MISUSE OF PROPERTY HELD IN A FIDUCIARY CAPACITY: THE LIABILITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 CH. 13. THE DUTY To TREAT BENEFICIARIESO F DIFFERENT CLASSES A. Profits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 FAIRLY ~ . 59 1. Profits Derived From The Misuse of Trust Moneys . . . . . . . . . . 113 1. Decisions taken for the Purpose of Advantaging/Dis- (a) The Liability to Pay Interest . . . . . . . . . . . . . . . . . . . . . . . . . . 113 advantaging only some of the Beneficiaries . 60 (b) The Liability for Actual Profits Attributable to Money 2. Decisions which are Unfair in their Consequences to some Misused . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117 of the Beneficiaries . 62 (c) The Liability to Deliver up Specific Property or to Hold Companies And The Duty To Act Fairly . 64 it Subject to a Lien or to a Constructive Trust. . . . . . . . . . . . 122 Fairness as between Classes of Shareholders . 69 2. Profits Derived From The Misuse of Property Other Than Advantaging/Disadvantaging only some of the Shareholders .. 70 Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124 3. Profits Derived by Virtue of Legal Ownership . . . . . . . . . . . . . . . 126 CH. 14. THE DuTY NoT To Acr CAPRICIOUSLY OR TOTALLY UNREASONABLY . 75 B. Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127 "Absolute" Discretions . 76 CH. 19. THE DUTY OF CONFIDENCE . . . . . . . . . . . . . . . . . . . . . . . . . . . 130 PART II "Things of Confidence" . 130 Duties of' Confidence Imposed by Express Contractual Stipulation. . 135 THE DUTIES OF GOOD FAITH The Implied or Imposed Duty of Confidence . . . . . . . . . . . . . . . . . . . 136 The Duty of Confidence: The Nature of the Relationship . . . . . 137 CH. 15. THE DUTIES OF GOOD FAITH . 78 The Duty of Confidence: The Circumstances of the Communi- 1. Undue Influence . 79 cation and the Nature of the Information . . . . . . . . . . . . . . 143 2. The Misuse of Property Held in a Fiduciary Capacity . 79 Duties of Confidence and Limited Rights of Beneficial User. . . 151 3. The Misuse of Information Derived in Confidence . 79 Indirect or Triangular Relationships of Confidence . . . . . . . . . . 152 4. Purchases of Property Dealt with in a Position of a The Duty of Confidence-the Just Cause or Excuse Exceptions. 156 Confidential Character . 79 Breach of Confidence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159 5. Conflict of Duty and Interest . 80 Breach of Confidence and Third Parties . . . . . . . . . . . . . . . . . . . . 161 6. Conflict of Duty and Duty . 80 Knowing and Unknowing Breaches of Confidence........... 162 7. Renewals of Leases and Purchases of Reversions . 80 Remedies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 8. Inflicting Actual Harm on an "Employer's" Business . 80 U.K. Proposals for Reform of Breach of Confidence . . . . . . . . . 168 CH. 16. UNDUE INFLUENCE . 82 CH. 20. PURCHASES OF PROPERTY DEALT WITH IN Posrrroxs OF A The Presumption of an Undue Exercise of Influence . 83 CONFIDENTIAL CHARACTER. . . . . . . . . . . . . . . . . . . . . . . . . . 169 A Relationship of Influence . 84 Rebutting the Presumption . 86 The Purchasing Rule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169 Positions of a Confidential Character . . . . . . . . . . . . . . . . . . . . . . 170 Dispositions In Favour of Third Persons . 87 The Rule of Automatic Avoidance-No Consent Obtained . . . 180 oi. 17. THE Mrsuss OF PROPERTY HELD IN A FIDucIARY CAPACITY 89 TAh eC oRnutilneu ionfg" FDaiirsnabeislist"y- C. . o. n. s.e .n .t . .O . b. .t a. i. n. e. d. .. .. ... .. ... ... .. ... ... ... . . . . . . 118940 A. Fiduciary Positions and Property Other Than Money-No Right Assisting Another to Purchase . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191 of Beneficial User . 90 Sales to Spouses and Relatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . 193 1. The Legal Owner Fiduciary . 90 Sales to Companies, Partnerships and Trusts . . . . . . . . . . . . . . . . 193 2. The Fiduciary in Possession or Control of Another's Fiduciary Purchasing from a Mortgagee. . . . . . . . . . . . . . . . . . . . 194 Property . 93 The Consent of the Court to Purchases. . . . . . . . . . . . . . . . . . . . . 195 TABLE OF CONTENTS xi TABLE OF CONTENTS x PAGE PAGE B. Company Liquidators . 276 195 Statute and the Purchasing Rule . Winding Up by the Court . 277 Trustees in Bankruptcy, Liquidators, Committees of Inspection 195 Mem_bers' Voluntary Winding Up . 279 Auctioneers, Estate Agents, etc . 196 Creditors' Voluntary Winding Up . 279 197 Dealers in Securities . 197 C. Trustees . 279 Company Directors : Powers to Appoint New Trustees . 280 The Purchasing Rule and the Mortgagee's Power of Sale . 198 Appointment by the Court . 280 D. Trustees in Bankruptcy . 282 199 CH. 21. CONFLICT OF DUTY AND INTEREST . E. Company Directors . 284 200 The Reason for the Rule . 201 A Fiduciary . Index . 287 205 A. Unauthorised Remuneration . 206 1. Self Employment for Reward . 209 2. Director's Fees and Partner's Profits . 3. Discounts, Rebates, Introduction Fees, and Usual Com- 211 missions · · 213 4. Tips and Gratuities . 214 5. Bribes and Secret Commissions . B. Assuming a Double Character . 222 223 1. Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . · . · · · · · · 2. Sales . 223 228 3. Trade Dealing with a Business Managed as a Fiduciary . 230 4. Loans . C. Benefits Derived to the Exclusion of the Beneficiary . . . . . . . . . . 231 1. A Fiduciary Cannot, in his Private Capacity, Derive any Benefit which his Undertaking Authorises or Requires him to Pursue in his Representative Capacity. . . . . . . . . . . . . 232 2. A Fiduciary Cannot Retain a Profit Derived through Use of his Fiduciary Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 246 CH. 22. CONFLICT OF DUTY AND DUTY. . . . . . . . . . . . . . . . . . . . . . . . 252 An Actual Conflict of Duties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 253 Avoidance of the Transaction Effected Between the Bene- ficiaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 254 The Personal Remedy against the Fiduciary . . . . . . . . . . . . . . . . 255 Forfeiture of Commission or Fees . . . . . . . . . . . . . . . . . . . . . . . . . 257 CH. 23. PURCHASING DEBTS AND lNCUMBRANCES: RENEWING LEASES AND PURCHASING REVERSIONS . . . . . . . . . . . . . . . . 259 A. Debts and Jncumbrances................................. 259 1. The Purchasing Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 259 2. Conflict of Duty and Interest ·. . . . . . . . . . . . . . 260 B. Leases and Reversions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 261 1. Renewals of Leases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 262 2. Purchases of Reversions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 264 CH. 24. HARMING AN "EMPLOYER'S" BUSINESS . . . . . . . . . . . . . . . . . . 266 APPENDIX A: SPECIAL POWERS OF APPOINTMENT . . . . . . . . . . . . . . . . . 270 1. The Donee's Position is a "Fiduciary Position"... . . . . . . . . 271 2. Exercising the Power "Fiduciarily" . . . . . . . . . . . . . . . . . . . . . 271 3. A Special Power is a "Fiduciary Power"................. 272 Powers to Appoint to Fiduciary Offices. . . . . . . . . . . . . . . . . . . . . . . . 273 APPENDIX B: APPOINTMENTS To FIDUCIARY OFFICES . . . . . . . . . . . . . . 274 A. Receivers/ Managers Appointed by the Court . . . . . . . . . . . . . . 274 TABLE OF CASES A (a person of unsound mind), re [1904] 2 Aluminium Industrie Vaassen v. Rom Ch. 328 624 alpa Aluminium [1976] I W.L.R. 676. 194, A. & B. C. Chewing Gum, re; Topps 196 Chewing Gum v. Coakley [1975] I Amalgamated Properties of Rhodesia, W.L.R. 579 . . . . . . . . . . . . . . . . . . . . . . 16 re (1914) 30 T.L.R. 405 641 Aas v. Benham [1891] 2 Ch. 244 .... 546, 547 Amalgamated Television Services v. Tele Abbotsford Hotel v. Kingham (1910) IOI vision Corporation [1969) N.S.W.R. L.T. 777 150 257 468 Aberdeen Town Council v. Aberdeen Amber Size & Chemical Co. v. Menzel University (1877) 2 App.Cas. 544 .... 183, (1913) 30 R.P.C. 433 336 280, 441, 569 Amway Corporation v. Eurway Inter Abernethy v. Hutchinson (1824) I H. & national [1974) R.P.C. 82 ... 322, 331, 332, Tw. 28 294, 297, 305, 343 335 Abrahams' Will Trusts, re; Caplan v. Anderson, re; Tebbutt v. Anderson Abrahams (1969] I Ch. 463 625 (1901) I S.R. (N.S.W.) (Eq.) 223 ..... 280 Ackroyds (London) v. Islington Plastics Andrews v. Mowbray (1807) Wils. Ex. 71 390, (1962] R.P.C. 97 ... 301, 327, 335, 378, 382 391, 392,405,433,438 Acts Oil v. Pacific Petroleums 27 D.L.R. -- v. Ramsay & Co. [1903) 2 K.B. 635 514, (3d) 444. . . . . . . . . . . . . . . . . . . . . . . . . . 545 592 Adams v. Adhesives Pty. Ltd. (1932) 32 Anglo-African Merchants v. Bayley S.R.(N.S.W.) 398 149, 583 [1970] I Q.B. 31 l 586 -- v. Kingsway Home Finance Co. Anglo-Universal Bank v. Baragnon [1966] I N.S.W.R. 683 588 (1881) 45 L.T. 362 146, 150 Adamson v. Kenworthy (1931) 49 R.P.C. Anon. ( 1707) l Salk. 155 . . . . . . . . . . . . . 594 57 548, 549 Ansell Rubber Co. v. Allied Rubber Agra & Masterman's Bank, re; ex. p. Industries [1967) V.R. 37 ... 306, 335, 336, Waring (1866) 36 L.J. Ch. 151 229 382 Agricultural Industries Ltd, re, [ 1952) Ansett v. Butler Air Transport (No. I) I All E.R. 1188 44,49,635 (1958) 75 W.N. (N.S.W.) 299 150 Ailesbury's (Marquis) Settled Estates, Anson v. Potter (1879) 13 Ch.D. 141.... 47 re, [1892] 1 Ch. 506; [1892) A.C. 356 . 133, Archer's Case; re North Australian 134 Territory Co. [1892] 1 Ch. 322 510 Airlines Airspares v. Handley Page (1970] Ardlethan Options v. Easdown (1915) Ch. 193 _127 20 C.L.R. 285 511 Albert (Prince) v. Strange (1849) l Mac. Argyl (Duchess) v. Argyl (Duke) [1967) & G. 25 352, 369 Ch. 302 298, 305, 319, 376 Albion Steel & Wire Co. v. Martin (1875) Armstrong v. Jackson [1917] 2 K.B. 822 .. 464, l Ch.D. 580 . . . . . . . . . . . . . . . . . . . . . . 529 518, 520 Alexander v. Automatic Telephone Co. Ashburton (Lord) v. Pape [1913] 2 Ch. (1900) 2 Ch. 56 I 19, 120, 151, 152 469 344, 350 Allcard v. Skinner (1887) 36 Ch.D. 145. 172, Ashburton Oil N.L. v. Alpha Minerals 173, 176, 179, 180 N.L. (1971) 45 A.L.J.R. 162 70, 150 Allebart Pty. Ltd. (in Liq.) & The Com Associated Provincial Picture Houses v. panies Act, re, (l 971] l N.S.W.L.R. 24. 634 Wednesbury Corporation [1948] 1 K.B. Allen v. Gold Reefs of West Africa [1900] 223 156 2 Ch. 656 139 Association of Land Financiers, re ( 1878) - v. Hyatt (1914) 30 T.L.R. 444 20, 468 10 Ch.D. 269 638 Allen-Meyrick's Will Trusts, re; Mang- Atlas Engineering Co, re; Davy's case nall v. Allen-Meyrick (1966] l W.L.R. (1889) 10 N.S.W.R. (Eq.) 179 104 499 30, 58 Attorney-General v. Alford (1855) 4 Allison v. Clayhills (1907) 97 L.T. 709 .. 176, DeG., M. & G. 843 248, 250 417,439,444 -- v. Cape (Jonathan) [1975] 3 W.L.R. Alperton Rubber Co. v. Manning (1917) 606 298, 328 86 L.J.Ch. 377 .... 315, 336, 338, 339, 378, 382 References are to paragraph numbers xiii TABLE OF CASES xv xiv TABLE OF CASES Birkdale District Electric Supply Co. v. Corporation v. Couper [1894] A.C. 399 118 Attorney-General v. Dudley(Lord)(l815) Barclays Bank v. Quistclose Investments Southport Corporation [1926] A.C. British American Oil Producing Co. v. G. Coop. 146 420 [1970] A.C. 567 217, 233, 234, 235 355.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62 Midway Co. 82 P. (2d) 1049 (1938) -- v. Edmunds (1868) L.R. 6 Eq. 381. 263 Baring v. Stanton (1876) 3 Ch.D. 502 491 Birtchnell v. Equity Trustees, Executors (U.S.) 540, 545, 546 - v. Goddard (1929) 98 L.J.K.B. 743. 497, Barker v. Stickney [1919] 1 K.B. 121 206 & Agency Co. (1929) 42 C.L.R. 384 .. 541, British Berna Motor Lorries v. Inter 498, 511 Barnard v. Hunter (1856) 28 L.T.O.S. 152 406 545, 606 Transport Co. (1915) 31 T.L.R. 200 .. 280 --- v. National Gallery of N.S.W. Barnes (William R.) & Co. v. MacKenzie Biss, re; Biss v. Biss [ 1903) 2 Ch. 40 .... 602, British Celanese v. Moncrieff (1948) (Trustees) (1945) 62 W.N.(N.S.W.) 212 156 34 D.L.R. (3d)463 613,614,618 604, 607 65 R.P.C. 169 549 Attorney-General for N.S.W. v. Per Barr, Leary & Co. v. Hall (1906) 26 Bjorlow (Great Britain) v. Minter (1954) British Murac Syndicate v. Alperton petual Trustee Co. [1955] A.C. 457 ... 497 N.Z.L.R. 222 592 71 R.P.C. 321 322, 331, 336 Rubber Co. [1915] 2 Ch. 186 ..... 656, 657 Aubanel & Alabaster v. Aubanel (1949) Bartlett v. Shoe & Leather Record [1960] Black v. Freedman & Co. (1910) 12 British National Life Assurance Associ 66 R.P.C. 343 321, 613, 614, 618, 660 C.L.Y. 1151 614 C.L.R. 105 271 ation, re (1872) L.R. 14 Eq. 492 ..... 641 Austin v. Chambers (1838) 6 Cl. & F. 1 . 400, Barton v. Armstrong [1975] 2 W.L.R. -- v. Homersham (1878) 4 Ex.D. 24 .. 191 British Provident Life & Guarantee 402 1050 171 Blackham v. Haythorpe (1917) 23 C.L.R. Association, re; De Ruvigne's case Australasian Venezolana, re; Olsson v. Bartram & Sons v. Lloyd (1904) 90 L.T. 156 437, 441 (1877) 5 Ch.D. 306 . . . . . . . . . . . . . . . . 43 Vogel (1962) 4 F.L.R. 60 . . . . . . . . . . . 42 357 509, 585 Blair v. Martin [1929) N.Z.L.R. 225 469 British Reinforced Concrete Engineering Aurset r[a1l9ia5n6 ] VH.oLm.Re. Fli nance C18o4. , (1in8 7L, 2iq0.4) , 236 Ba6th1 8v . Standard Land Co. [1911] l Ch. 469 Blake, re; Jones v. Blake (1885) 29 Ch.D. Co. v. Lind (1917) 34 R.P.C. 101 ..... 548 513.............................. 88 British Syphon Co. v. Homewood [1956] Australian Metropolitan Life Assurance Bayne v. Stephens (1908) 8 C.L.R. l 253 Co. v. Ure (1923) 33 C.L.R. 199.88, 89, 156 Beale, re; ex p. The Board of Trade - v. Bayne (1908) 6 C.L.R. 179; 1 W.L.R, 1190 549, 566 reversing (1906) 4 C.L.R. 1 176 Brittlebank, re (1881) 30 W.R. 99 155 Automatic Self-Cleansing Filter Syn [1939] Ch. 761 35, 652, 655 Britton & Millard Ltd., re (1957) 107 dicate v. Cuninghame [1906] 2 Ch. 34. 45, Belchier, exp. (1754) Amb. 218 . . . . . . . 40 Blakeway v. Blakeway (1833) 2 L.J.Ch. 75 629 L.Jo. 601 582, 639, 641 114 Bell Brothers, re; exp. Hodgson (1891) Blausten v. Inland Revenue Commis Broadcasting Station 2GB re [1964-65] Automotive & General Industries, re 65 L.T. 245 84, 155, 156 sioners [1972] l Ch. 256 . . . . . . . . . . . . 71 N.S.W.R. 1648 114 [1975] V.R. 454 460 Bell v. Lever Brothers [1932] A.C. 161 .. 553, Block (H. & R.) v. Sanott [1976] 1 Brockbank, re; Ward v. Bates [1948] Aveley/Cybervox v. Bowman [1975] 660 N.Z.L.R. 213 336 Ch. 206 45, 47 F.S.R. 139 340 Bellr inger v. Blagrave (1847) 11 Jur. 406. 67 Bloye's Trust, re (1849) 1 Mac. & G. Brooks (William) & Co. & Companies Ayliffe v. Murray (1740) 1 Atk. 58 465 Beloff v. Pressdram Ltd. [1973] 1 All 488 402, 412 Act, re [1962) N.S.W.R. 142 ... 60, 77, 141 Ayr Harbour Trustees v. Oswald (1883) E.R. 241 360, 361 Blyth Chemicals v. Bushnell (1933) 49 Brooke Bond & Co.'s Trust Deed, re; 8 App. Cas. 623 61, 62, 68, 74 Bendigo Central Freezing & Fertilizer C.L.R. 66 582 Co. v. Cunningham [1919] V.L.R. 387. 494, Bole's & British Land Co.'s Contract, re Brooke v. Brooke Bond & Co. [1963) Ch. 357 409 B.C. Timber Industries Journal v. Black 509 (1902) 71 L.J.Ch. 130 444 Brook's Settlement, re; Brook v. Brook [1934] 3 D.L.R. 31. 195, 284 Bennett, exp. (1805) 10 Yes. 381 .. 410, 445, Bond v. Barrow Haematite Co. [1902] [1968) 1 W.L.R. 1661 621, 624 B.L.B. Corporation of Australia Estab 446,449 1 Ch. 353 . . . . . . . . . . . . . . . . . . . . . . . . 77 Brooks v. Alker 9 O.R. (2d) 409 (1976). 176 lishment v. Jacobson (1974 48 A.L.J.R. Bennett v. Gaslight & Coke Co. (1882) Bond (George A.) & Co. v. Bond (1930) Broughton v. Broughton (1855) 5 DeG. 372 436, 450 52 L.J.Ch. 98 . . . . . . . . . . . . . . . . . . . . . 602 30 S.R.(N.S.W.) 15 477 M. & G. 160 475, 477 Bacup (Corporation) v. Smith (1890) 44 Bennetts v. Board of Fire Commissioners Bond & Securities (Trading) v. Glomex Brown (Christina), re (1921) 22 S.R. Ch.D. 395 , . . . . . . . . . . . 45 of N.S.W. (1967) 87 W.N. (Pt. 1) Mines [1971] l N.S.W.L.R. 879 ..... 582 (N.S.W.) 90 644 Baden's Deed Trusts, re; McPhail v. (N.S.W.) 307 328 Bongiovanni v. Societe Generate (1886) Brown, exp.; re Smith (1886) 17 Q.B.D. Daulton [1971] A.C. 424 625 Benningfield v. Baxter (1886) 12 App. 54 L.T. 320 196 488 .42, 49, 155, 156 Bailey v. Birkenhead, Lancashire & Cas. 167 395, 402, 420 Bostitch Inc. v. McGarry & Cole [1964] -- v. De Tastet (1821) Jae. 284 269 Cheshire Junction Railway Co. (1850) Bentinck v. London Joint Stock Bank R.P.C. 173 . . . . . . . . . . . . . . . . . . . . . . . 367 -- v. Inland Revenue Commissioners 12 Beav. 433 145 [1893] 2 Ch. 120 196 Boston's Will Trusts, re; Inglis v. Boston [1965) A.C. 244 261 Bainbrigge v. Browne (1881) 18 Ch.D. Bentley v. Craven (1853) 18 Beav. 15 529 [1956] Ch. 395 90, 123, 134 -- v. Litton (1711) 1 P.Wms. 140 269 188 182 Bents Brewery Co. v. Hogan [1945] 2 Boston Deep Sea Fishing & Ice Co. v. Brown's Settlement, re; Public Trustee Baker v. Gibbons [1972] 2 All E.R. 759. 321, All E.R. 570 315, 336 Ansell (1888) 39 Ch.D. 339 .. 495, 511, 514 v. Brown [1939) 1 Ch. 944 ..... 19, 71, 622 338 Berk v. Permanent Trustees Co. (1947) Boswell v. Coaks (1883) 23 Ch.D. 302; -- v. The Wickham & Bullock Island -- v. Palm Bay Island Resort (No. 2) 47 S.R. (N.S.W;) 459 181, 182 (1886) 11 App. Cas. 232 407, 453 Coal Co. (1894) 15 N.S.W.R.(L.) 306. 41 [1970] Qd.R. 210 504 Berkley (a lunatic), re; Berkeley v. Berley Boulting v. A.C.T.A.T. [1963] 2 Q.B. Brusewitz v. Brown [1923) N.Z.L.R. Bakewell v .. Holme (1943) 44 S.R. (1874) L.R. 9 Ch. App.no 650 606 113, 472, 474, 1106 176,181 (N.S.W.) 150 133 Berwick-upon-Tweed (Mayor) v. Murray 542, 567, 582 Bryant, re; Bryant v. Hickley [1894] Ballantyne v. Stokle (1924) 27 W.A.R. (1857) 7 De.G. M. & G. 497 250 Bowes v. The City of Toronto (1858) 11 1 Ch. 324 . . . . . . . . . . . . . . . . . . . . . . . . 74 45 402 Bester v. Permanent Trustee Co. [1970) Moo.P.C. 463 597 Bulfield v. Fournier (1894) 11 T.L.R. 62. 489, Bamford v. Bamford [1970] Ch. 212 150, 3 N.S.W.R. 30 177, 181 Bradshaw, re; Bradshaw v. Bradshaw 509 151, 152 Bevan v. Webb [1905] 1 Ch. 620 610 [1902] l Ch. 436 67, 621, 624 Bullock v. Lloyds Bank [1955] Ch. 317 . 176, Bank of New South Wales v. Rogers Bewdley Election Petition, re; Spencer Brady v. Stapleton ( 1952) 88 C.L.R. 322. 273 181, 182 (1941) 65 C.L.R. 42 181, 182 v. Harrison (1881) 44 L.T. 283 504 Bray v. Ford [1896] A.C. 44 462, 465 Bulmer, re; ex p. Greaves [1937) Ch. Bank of South Australia (No. 2), re Biel's Estate, re; Gray v. Warner (1873) Brenner v. Rose [1973] 1 W.L.R. 443 .. 610 499 395,409,420,454,457 (1895) 2 Mans. 129 635 LR. 16 Eq. 577 392, 395 Brentnall's Trusts, re [1872] W.N. 77 650 Burden v. Burden (1813) 1 V. & B. 170 .. 269, Barber, re; Burgess v. Vinicome (1886) Birch v. Cropper(1889) 14App. Cas. 525. 117 Briggs v. Massey (1881) 29 W.R. 926 280 277 34 Ch.D. 77 477 Bircheno v. Thop (1821) Jae. 300 305, - v. Parsloe [1937] 3 All E.R. 831 644 Barclay v. Harris and Cross (1915) 85 312, 350 British & American Trustee & Finance References are to paragraph numbers L.J.K.B. 115 250 References are to paragraph numbers xvi TABLE OF CASES TABLE OF CASES xvii Burdett-Coutts v. Inland Revenue Com Chirnside v. Chirnside [ 194 7] V. L. R. 183 . 134 Collins v. Barker [1893] 1 Ch. 578 633 Crosskill v. Bower (1862) 32 Beav. 86 .. 533 missioners [1960] 1 W.L.R. 1027 ..... 201 Cholmondeley (Earl) v. Lord Clinton Collins (Brian D.) Engineers v. Charles Crowe v. Ballard (1790) 2 Cox 253 .. 402, 420 Burdick v. Garrick (1870) L.R. 5 Ch.App. (1815) 19 Yes. 261 305, 312 Roberts & Co. [1965] R.P.C. 429 .. 327, 378 Cuckmere Brick Co. v. Mutual Finance 233 248, 250, 252, 254 Christie v. Robinson (1907) 4 C.L.R. Commercial Plastics v. Vincent [1965] 1 [1971] Ch. 949 . . . . . . . . . . . . . . . . . . . . 17 Burland v. Earle [1902] A.C. 83 .... 248,250, 1338 231 Q.B. 623 ; . . . . . . . . . 338 Cuddon v. Tite (1858) I Giff. 395 192 252, 254 Christoforides v. Terry [1924] A.C. 566. 402, Commissioner of Stamp Duties (Qld) v. Cudgen Rutile (No. 2) v. Chalk [1975] Burrell v. Burrell's Trustees [1915] S.C. 422 Livingston [1965] A.C. 594 187 A.C. 520......................... 68 333 448 Christophers v. White (1847) 10 Beav. Commissioners of Crown Lands v. Page Cumberland Holdings, CCH Australian - v. Mossop (1884) 4 T.L.R. 270 502 523 479 [1960] 2 Q.B. 274.. . . . . . . . . . . . . . . . . 68 Company Law Cases, re, 1975-1976, Burt v. Claude Cousins & Co. [1971] Church of Scientology of California v. Commonwealth v. Roydhouse 82 Atl. 74 40-250 102 2 Q.B. 426 231 Kaufman [1973] R.P.C. 635 ..... 318, 343, (1911) (U.S.) .. . . . . .. . . . . . . .. .. . . . 47 Cunningham's Settled Estates, re (1910) Burt, Boulton & Hayward v. Bull [1895] 358, 360 Consul Development v. D.P.C. Estates 27 W.N.(N.S.W.) 28 648 1 Q.B. 276 50, 89 City & County Investment Co., re (1877) (1974-75) 5 A.L.R. 231 548, 554 Bute's (Marquis) case; re Cardiff Savings 25 W.R. 342 639, 641 Contract Corporation, re; Gooch's case Dadswell v. Jacobs (1887) 34 Ch.D. 278. 336 Bank [1892]2 Ch. 100. . . . .. . . . . . . . . 405 - (1879) 13 Ch.D. 475 582 (1871) L.R. 7 Ch.App. 207 122 Dale v. Inland Revenue Commissioners Butt v. Kelson (1952] Ch. 197 . . . . . . . . . 47 City Equitable Fire Insurance Co., re Conveyor Co. of Australia v. Cameron (1954] A.C. 11 .465, 475 [1925] Ch. 407 . . . . . . . . . . . . . . . . . . . . 88 Bros. Engineering Co. [1973] 2 Dalgety & Co. v. Gray (1919) 26 C.L.R. Caird v. Sime (1887) 12 App.Cas. 326 .. 300, Clack v. Carlon (1861) 30 L.J.Ch. 639 .. 477, N.Z.L.R. 38 335, 353, 376, 383 249 (P.C.) 534 343 481 Conybeare's Settlement, ex p. (1853) 1 Dally v. Wonham (1863) 33 Beav. 154 .. 395, Campbell, re; Rowe v. McMaster (1973] Claridge, re (1901) 7 A.L.R. 104 655 W.R. 458 648 404, 437 2 N.S.W.L.R. 146 133 Clark, re; Clark v. Moore (1920) 150 Coode, re; Coode v. Foster (1913) 108 Dargusch v. Sherley Investments [1970] Campbell v. Walker (1800) 5 Yes. 678; L.T.Jo. 94. . . . . . . . . . . . . . . . . . . . . . . . 450 L.T. 94 644 Qd R. 338 583, 593 (1807) 13 Yes. 601 420 Clark v. Clark (1884) 9 App.Cas. 733 ... 416, Cook v. Deeks [1916] l A.C. 554 .. 558, 570, Davidson v. Grange (1854) 4 Gr. 377 Canadian Aero Services v. O'Malley 425 571 (Can.) , . . . . . . . 657 40 D.L.R. (3d) 371 573, 574 - v. Smith [1940] 1 K.B. 126 . . . . . . . 68 Cooke, re; Winckley v. Winterton [1922] Davies v. Clough (1937) 8 Sim. 262 .... 312 Cane v. Allen (1814) 2 Dow. 289 397, 417, -- v. Workman [1920] Ir.R. 107 51, 70 l Ch. 292 621 Davis, re; Davis v. Davis [1902] 2 Ch. 439 Clarkson v. Davies (1923] A.C. 100 511 Coomber, re; Coomber v. Coomber 314 248, 252, 254 Cannon v. Trask (1875) L.R. 20 Eq. 669 141, Clay v. Rufford (1852) 5 DeG. & Sm. 768. 51, [1911] 1 Ch. 723 I, 467 Dawes, re (1934) 7 A.B.C. 190 653 146, 149, 150, 153 53,67 Coopers Ltd., re (1897) 14 T.L.R. 144 .. 635 Dawson, re; Union Fidelity Trustee Co. Cape Breton Co., re (1885) 29 Ch.D. 795; Clegg v. Edmondson (1857) 8 DeG., M. Copp v. Lynch (1882) 26 Sol. Jo. 348. 488, 489 v. Perpetual Trustee Co. (1966) 84 and see on appeal sub.nom. Cavendish & G. 787 606 Coral Index v. Regent Index [1970] W.N. (Pt. 1) (N.S.W.) 339 ... 248, 253, 260 Bentinck v. Fenn (1887) 12 App.Cas. Clifford Deceased, re (1948] S.A.S.R. 83. 107, R.P.C. 147 . . . . . . . . . . . . . . . . . . . . . . . 338 Day v. Day; exp. Bank of N.S.W. (1892) 652 \ 520,52~52~52~529 111 Coronation Syndicate v. Lilienfeld [1903] 11 N.S.W.R. (Eq.) 190 134 Cardiff Savings Bank, re; Marquis of Clifton v. Mount Norgan (1940) 40 S.R. T.S. 489 (S.Af.) 73, 67, 6 Dean v. MacDowell (1878) 8 Ch.D. 345. 539, Bute's case [1892] 2 Ch. 100 405 (N.S.W.) 31 . . . . . . . . . . . . . . . . . . . . . . 45 Corsellis, re; Lawton v. Elwes (1887) 545, 546, 558, 618 Carter v. Palmer (1842) 8 Cl. & F. 657 .. 308, Clissold's Settlement, re (1864) 10 L.T. 34 Ch.D. 675 477 Debtor, A, re (1927] 2 Ch. 367 585 395,407,443, 445, 596, 597 642 650 Cory (William) & Son v. London Cor -- ex p. The Debtor v. Dodwell (The Cartmell's case (1874) L.R. 9 Ch.App. Clore's Settlement Trusts, re; Sainer v. poration [1951] 2 K.B. 476.......... 68 Trustee) [1949] Ch. 606 32, 128 691.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Clore [1966] 1 W.L.R. 955.......... 84 Cotter, re; Jennings v. Nye [19151 1 Ch. De Beer v. Graham (1891) 12 N.S.W.R. Cavendish Bentinck v. Fenn (1887) 12 Clutton, ex p. (1853) 17 Jur. 988 . . . . . . . 650 307; (1915) 84 L.J. Ch. 337 .. 627, 644, 650 (Eq.) 144 293 App. Cas. 652 447 Coalport China Co., re [1895] 2 Ch. 404. 88 Cotton, re; exp. Cooke (1913) 108 L.T. De Bussche v. Alt (1878) 8 Ch.D. 286 402, Chandler v. Bradley [1897] I Ch. 315 501, Cochrane v. Cochrane (1922] 2 Ch. 230. 623 310 220, 223 412,420 515, 523 Cock, re; Howden v. Cock [1915] V.L.R. Council of Auctioneers & Agents v. Delves v. Gray [1902] 2 Ch. 606 .... 420, 421 Chang v. Registrar of Titles (1976) 8 324.............................. 16 Alexander [1972] 2 N.S.W.L.R. 375 .. 402 Demerara Bauxite Co. v. Hubbard [1923) A.L.R. 283 190 Cockburn v. Edwards (1881) 18 Ch.D. · Courtier, re; Coles v. Courtier (1886) 34 A.C. 673 406,432,437,439 Chaplin v. Young (No. 2) (1864) 33 449 533 Ch.D. 136 156 Denton v. Donner (1856) 23 Beav. 285 .. 430 Beav. 414 529 Coch, ex p.; re Poole (1882) 21 Ch.D. Cradock v. Piper (1850) 1 Mac. & G. 644. 477 De Ruvigne's case (1877) 5 Ch.D. 306. . 43 Chapman, re; Freeman v. Parker (1895) 397.............................. 49 Craig, re; Meneces v. Middleton [1971] Devonshire Silkstone Coal Co., re [1878] 72 L.T. 66 155, 156 Coco v. A. N. Clark (Engineers) [1969] Ch. 95 177, 181 W.N. 71 641 Charterbridge Corporation v. Lloyds R.P.C. 41 292, 298, 300, Craig v. Attorney-General [1926] N.I. Dey v. Goldfields Building Finance & -Bank [1970] Ch. 62 110 318, 322, 325, 326, 332, 336, 366, 376, 377, 217 632 Trust Corporation [1927) W.L.R. 180 Charteris, re; Charteris v. Biddulph 379, 381 -- v. National Trustees, Executors & (S.Af.) 659 [1917] 2 Ch. 379 77, 122, 131, 134 Coffin v. Cooper (1865) 2 Dr. & Sm. 365 67 Agency Co. [1920] V.L.R. 569 157 Diabolo Separator Co. v. Hungerford Charterland Goldfields, re ( 1909) 26 Cohen v. Cohen (1929) 42 C.L.R. 91 ... 217, Cranleigh Precision Engineering v. [1935] Q.W.N. 4 220 T.L.R. 132 636, 641 222 Bryant [1966] R.P.C. 81 .... 321, 335, 336, Diamond v. Oreamuno 248 N.E. (2d) Chattock v. Muller (1878) 8 Ch.D. 177 .. 544 -- v. Kuschke & Co. (1900) 83 L.T. 378, 381 910 (1969) (U.S.) 336 Chesterfield's (Earl) Trusts, re (1883) 24 102 475, 503 Craven Settled Estates, re [ 1926] Ch. 985. 72 Dickens, re; Dickens v. Hawksley [1935] Ch.D. 643 122 Coke's Trust, re (1852) 19 L.T.O.S. 243. 646 Crawshay, re; Hore-Ruthven v. Public Ch. 267 294 Chesterfield (Earl) v. Janssen (1750) 2 Coles v. Trecothick (1804) 9 Yes. 234 ... 390, Trustee (No. 2) [1947] Ch. 356 621 Dickinson's Trusts, re [1902] W.N. 104. 645 Yes. Sen. 125 173 395,430,445 Crosley v. The Derby Gas-light Co. Diplock, re; Diplock v. Wintle [1948] Chesterfield & Boythorpe Colliery Co. (1829) 1 W.P.C. 119; (1838) 3 My. & Ch. 465 271 v. Black (1878) 37 L.T. 740 526 References are to paragraph numbers Cr. 428 288 References are to paragraph numbers xviii TABLE OF CASES TABLE OF CASES xix Diplock v. Blackburn (1811) 3 Camp. 43. 211, Elliot v. Richardson (1870) L.R. 5 C.P. Flockton v. Bunning (1872) L.R. 8 Gibson & Stuart, re; re The St Albans 259 744.............................. 16 Ch.App. 323n 264,265,267,273 Bank (1850) 35 L.T.O.S. 95 229 Distillers Co. (Biochemicals) v. Times Ellis v. Barker (1871) L.R. 7 Ch.App. Foley v. Hill (1848) 2 H.L.C. 28 ... 184, 215, Gilbert v. Star Newspaper Co. (1894) Newspapers [1975] 1 All E.R. 41 ..... 361 104 81, 126 222, 229 11 T.L.R. 4 336 Ellis & Co. (Trustees) v. Watsham (1923) Docker v. Somes (1834) 2 My. & K. 655. 183, Forder, exp.; re Sparks [1881] W.N. 17. 402, Giles v. Nuttall; re The House Improve 155 L. T.Jo. 363 . . . . . . . . . . . . . . . . . . . 526 237, 239, 241, 243, 248, 262, 264, 270, 271 420,450 ment Association (1885) 78 LT.Jo. Emanuel, re; Myers v. Emanuel (1910) 273 Forte (Charles) Investments v. Amanda: 130 632, 639 27 W.N.(N.S.W.) 27 646 Dodge v. Ford Motor Co. 170 N.W. 668 [1964] Ch. 240 , . . . . . . . . . . 157 Gillett v. Peppercorne (1840) 3 Beav. 78. 518, Emmanuel, exp.; re Batey (1881) 17 (1919) (U.S.) 77, 141 Fouche v. · Superannuation Fund Board 520 Ch.D. 388 121 Domestic Services, re (1931) 31 S.R. (1951-52) 88 C.L.R. 609 502 Gisborne v. Gisborne (1877) 2 App.Cas. Englefield Colliery Co., re (1877) 8 Ch.D. (N.S.W.) 8 504 Fox v. Mackreth (1782) 2 Bro.CC. 400 .. 397 300 , 157 388.............................. 69 Dominion Coal Co. v. Maskinonge English v. Dedham Vale Properties, The Foxwell v. Van Grutten [1897] l Ch. 64 .. 628 Gladwin's Trusts, re [1919] l Ch. 232... 91 Steamship Co. [1922] 2 K.B. 132 ..... 280 Times, 21 April 1977. . . . . . . . . . . . . . . 577 Frampton, re [1943] Q.W.N. 29 448 Glennon v. Federal Commissioner of Doody, re; Fisher v. Doody [1893] I Ch. Erikson v. Carr (1946) 46 S.R.(N.S.W.) 9 514 Franchi v. Franchi [1967] R.P.C. 149. 333, 334 Taxation (1972) 127 C.L.R. 505 .. 430, 448 129 477, 479 Erlanger v. New Sombrero Phosphate Francis, re [1948] S.A.S.R. 287 . . . . . . . . 157 Gluckstein v. Barnes [1900] A.C. 240 ... 527 -- Barrett v. Fisher (1905) 74 L.J. Ch. Gooch's case (1871) L.R. 7 Ch.App. 207. 636 Dougan v. MacPherson [1902] A.C. 197. 390, Co. (1873) 3 App.Cas. 1218 .. 515, 519, 520 395,427,432, 437 Erskine, Oxenford & Co. v. Sachs [1901] 198 475, 484 Goode, re; Exp. Mount (1974) 4 A.LR. Franks (Richard Brady) v. Price (1937) 579 223, 225 Douglas, re (1928) 29 S.R.(N.S.W.) 48 .. 448 2 K.B. 504 .402, 422 -- v. Archbutt (1858) 2 DeG. & J. 148. 477, Esme Pty. Ltd .. JI. Parker [1972] W.A.R. Fra5s8e rC .vL. .ERv. an11s 2[ 1969] 1 Q.B. 8384, 91 0..6 , 310112,, 315586, GGoopoadlya v.C Bheatrtiyn g v.[ 19V5i6ja] y2a rAagllh Eav. Rac.h 1a1r i.a r. . 580 482 52 321 360, 368, 370 [1922] A.C. 488 203 Dover Coalfield Extension, re [ 1908] 1 European Assurance Society Arbitration, -- v. Murdoch (1881) 6 App.Cas. 855. 44 Gordon v. Australian & New Zealand Ch. 65 485 The; Manistry's case ( 1873) 17 Sol.Jo. - v. Whalley (1864) 2 H. & M. 10.150, 152 Theatres (1940) 40 S.R.(N.S.W.) 512... 88 Dovey v. Cory [1901] A.C. 477 . . . . . . . . 40 745 146 Dowling v. Lord Advocate [1963] S.L.T. European Central Railway Co., re; Friend v. Young [1897] 2 Ch. 421 224 - v. Gonda [1955] l W.L.R. 885 .... 202, Friend's Trust re (1904) 21 W.N.(N.SW.) 252, 254 146 409, 454 Syke's case (1872) L.R. 13 Eq. 255 ... 102 166 646 Gothenburg Commercial Co., re (1881) Downes v. Graze brook ( 1817) Mer. 200. 398, Evans v. Donaldson (1909) 9 C.L.R. 140. 42 Fripp v. Chard Railway Co. (1853) 11 44 L.T. 166 223, 225 461 Evered, re; Molineux v. Evered [1910] Hare 241 528, 630, 633 Gould v. O'Carroll (1963) 81 W.N. Dowse v. Marks (1913) 13 S.R.(N.S.W.) 2 Ch. 147 67, 71 Fuller v. Duncan (1891) 7 T.L.R. 305 .. 546 (Pt. 1) N.S.W.) 170 .... .405, 424, 426, 443 332.............................. 45 Everingham v. Everingham (1911) 12 Fullwood v. Hurley [1928] 1 K.B. 498 .. 580, Gramophone & Typewriter v. Stanley Driscoll v. Bromley ( 1837) 1 Jur. 238. . . 526 S.R. (N.S.W.) 5 452 583, 592 [1908] 2 K.B. 89................... 45 Drucker, re; ex p. Basden [1902] 2 K.B. Evitt v. Price (1827) 1 Sim. 483 . 309, 344, 350 Furs Ltd v. Tomkies (1936) 54 C.L.R. 583 527 Grant v. Gold Exploration & Develop 237 234 Exchange Banking Co., re; Ramwell's Fysh v. Page (1956) 96 C.L.R. 233 ..... 416 ment Syndicate [1900] 1 Q.B. 233 .... 502, Duffy v. Super Centre Development case (1881) 50 L.J.Ch. 827 119 503, 506, 515. 585 Corporation [1967] 1 N.S.W.R. 382 ... 123, Eyre, re; Eyre v. Eyre (1883) 49 L.T. 259. 71 Gadd, re; Eastwood v. Clark (1883) 23 Gray v. New Augarita Porcupine Mines 156 Ezekiel's Settlement Trusts, re; National Ch.D. 134 45, 650 [1952] 3 D.L.R. l. 526, 527 Dundee General Hospitals Board of Provincial Bank v. Hyam [1942] Ch. Gainsborough v. Watcombe Terra Cotta Great Cobar, re; Beeson v. The Company Management v. Walker [1952] 1 All 230.............................. 47 Clay Co. (1885) 54 L.J. Ch. 991.. . . . . 78 [1915] l Ch. 682 32, 127 E.R. 896 157 Gallard, re; exp. Gallard [1887] 2 Q.B. 8. 409, Great Eastern Electric Co., re [1941] Dunne v. English (1874) L.R. 18 Eq. 524. 392( Fada (Australia), re; exp. Brown [1927] 446,454 Ch. 241 88, 156 395, 428 S.A.S.R. 590 221, 235, 237 Galloway v. Halle Concerts Society Great Western Insurance Co. v. Cunliffe Dunstan JI. Houison (1901) l S.R. Farnell v. Cox (1898) 19 N.S.W.R. (Eq.) [1915] 2 Ch. 233 118, 136, 145 (1874) L.R. 9 Ch.App. 525 491 (N.S.W.)(Eq.) 212 51, 58, 66 142 283 Game (George), re (1884) 1 Morr. 224 .. 654, Greaves, re; Public Trustee v. Ash [1954] Du Pont (E.l.) De Nemours Powder Co. Farrarv. Farrars Ltd (1888) 40 Ch.D. 395 17, 655 Ch. 434 62~623 v. Masland 244 U.S. 100 (U.S.) 296 398, 451, 461 Garland v. Garland (1793) 2 Yes. 137 .. 632 Green v. Folgham (1823) l S. & St. 398. 290, Dyson v. Lum (1866) 4 L.T. 588 402, 420 Featherstonhaugh v. Fenwick (1810) 17 Gartside v. Outram (1857) 26 L.J.Ch. 295, 384 Yes. 298 606 113 293, 359 Green & Son v. Tugham & Co. (1913) 30 Eales v. Cumberland Black Lead Mine -- v. Turner (1858) 25 Beav. 382 269 Garvey v. Garvey 22 N.E. 889 (1889) T.L.R. 64 321, 491 Co. (1861) 6 H. & N. 481 659 Federal Bank of Australia, re (1894) 20 (U.S.) .. . . . .. .. .. .. .. .. .. .. .. . . .. 77 Greenhalgh v. Arderne Cinemas [1951] Easton v. Hitchcock [1912] I K.B. 535 .. 298, V.L.R. 199 : 636 Gaskill v. Gosling [1896] 1 Q.B. 669; Ch. 286 139 347 Federal Commissioner of Taxation v. [1897] A.C. 575 . . . . . . . . . . . . . . . . . . . 24 Greenlaw v. King (1840) 9 L.J.Ch. 377; Eden v. Ridsdales Railway Lamp & United Aircraft Corporation (1943) Gates, re; Arnold v. Gates [1933] Ch. (1841) 10 L.J.Ch. 129 394, 409, 415 Lighting Co. (1889) 23 Q.B.D. 368 ... 494, 68 C.L.R. 525 293 913 477, 481 Greenwell v. Porter [1902] l Ch. 530 .. 16, 61, 504, 506, 512 Ferguson's case (1897) 23 V.L.R. 78 229 Gee, re; Wood v. Staples [1948] Ch. 284. 486 65 Edgar v. Muscovitch (1914) 36 A.L.T. Ferguson, re; ex p. E. N. Thorne & Co. Gee v. Pritchard (1818) 2 Swans. 402 294 Greenwood, re; Greenwood v. Firth 162 629 (1969) 14 F.L.R. 311 170 Gertzenstein, re [1937] Ch. 115 477 (1911) 105 L.T. 509 75, 78 Edinburgh (Lord Provost) v. Lord Ad- Fine Industrial Commodities v. Powling Gestetner Settlement, re; Barnett v. Greenwood v. Harvey (1965) 66 S.R. vocate (1879) 4 App.Cas. 823 .... 272, 273 (1945) 71 R.P.C. 253 575 Blumka [1953] Ch. 672 74, 77 (N.S.W.) 496 .441, 447, 592 Edwards v. Glyn (1859) 2 El. & El. 29 .. 235 Flint, re; Coppock v. Vaughan [ 1885] Gibbs v. David (1875) L.R. 20 Eq. 373 .. 628 Gresham Life Assurance Society, re; -- v. Meyrick (1842) 2 Hare 60 .. .406, 407 W.N. 163 312 Gibert v. Gonard (1885) 52 L.T. 54 .... 234 exp. Penny (1872) L.R. 8 Ch.App. 446. 89 Eider's Trustee & Executor Co. v. Higgins Gibson v. Jeyes (1801) 6 Yes. 266 .. 400, 439, 1962-63) 113 C.L.R. 426 75,88 References are to paragraph numbers 533 References are to paragraph numbers xx TABLE OF CASES TABLE OF CASES xxi Griffith v. Owen [1907] 1 Ch. 195 610 Hawkins (F.T.) & Co., re [1952] Ch. 881. 479 Hodson's Settlement, re (1851) 9 Hare Industrial Development Consultants v. Grimes v. Harrison (1859) 26 Beav. 435. 50 Hay's case; re Canadian Oil Works 118 644 Cooley [1973] 1 W.L.R. 433 556, 568 Groom v. Crocker [1939] 1 K.B. 194 588 Corporation (1875) L.R. 10 Ch. App. Hodson v. Deans [1903] 2 Ch. 647 461 Industrial Furnaces v. Reeves [1970] Grover v. Hugell (1827) 3 Russ. 428 420 593 511 Hoffman v. Duncan (1853) 18 Jur. 69 .. 633 R.P.C. 605 . . . . . . . . . . . . . . . . . . . . . . . 382 Grylls, exp. (1832) 2 Deac. & Ch. 290. . . 445 Hayes, re; ex p. The Official Assignee Hogg v. Cramphorn [1967] Ch. 254 .150, 152 Industries & General Mortgage Co. v. Guazzini v. Pateson (1918) 18 S.R. (1898) 19 N.S.W.R. (B. & P.) 37 ..... 120 Holder v. Holder [1968] Ch. 353 ... 402, 425, Lewis [1949] 2 All E.R. 573 .. 496, 506, 515 (N.S.W.) 275 44, 485 Hayes' Will Trusts, re; Pattinson v. Hayes 426,430,437,440 Initial Services v. Putterill [1968] 1 Q.B. Guest v. Cochlin [1929] 3 D.L.R. 790 193 [1971] 1 W.L.R. 758 121 Holman v. Loynes (1854) 4 DeG. M. & 396 359 - v. Smythe (1870) L.R. 5 Ch.App. Haygrath v. Wearing (1871) L.R. 12 Eq. G.270 40~432 Interfirm Comparison (Australia) v. Law 551 412, 424, 517 320 416 Holmes (John), re; re Electric Power Co. Society of New South Wales (1975) 5 Gulbenkian's Settlement, re; Whishaw Haywood v. Roadknight [1927] V.L.R. (1877) 25 W.R. 603 312 A.L.R. 527; (1975) 6 A.LR. 445. 298, 327, v. Stephens [1970] A.C. 508 74, 625 512 392, 395, 402, 406, 428, Hopper v. Conyers (1866) L.R. 2 Eq. 549. 272, 333, 336, 387 Guy v. Churchill (1890) 62 L.T. 132 420 441,446, 583 275 Irish, re; Irish v. Irish (1888) 40 Ch.D. 49. 321, Headway Construction Co. v. Downham Hordern v. Bull (1905) 5 S.R.(N.S.W.) 612, 618 Hall, re (1957) 20 A.B.C. 21 156 (1974) 233 E.G. 675 524 518 , 453 Iron Ship Coating Co. v. Blunt (1868) Hallett's Estate, re; Knatchbull v. Hallett Hearn v. Central Broken Hill Silver -- v. Hordern [1910] A.C. 465 423 L.R. 3 C.P. 484 659 (1879) 13 Ch.D. 696 194, 195, 272, Mining Co. (1895) 16 N.S.W.R. (Eq.) Horsnaill, re; Wolmersley v. Horsnaill Irvine v. Union Bank of Australia (1877) 273, 278 87............................... 53 [1909] 1 Ch. 631 132, 134 2 App.Cas. 366 . . . . . . . . . . . . . . . . . . . 81 Hamilton v. Wright (1842) 9 Cl. & F. 111 596 Heath v. Parkinson (1927) 136 L.T. 128. 437, Househill Co. v. Neilson (1843) 1 W.P.C. Hamilton-Snowball's Conveyance, re 441,447 697 288 James, exp. (1803) 8 Ves. 337. 390, 400, 403, [1959] Ch. 308 192, 280 Heathcote v. Hulme (1819) 1 Jae. & W. Hovenden & Sons v. Millhoff (1900) 83 407,411,413,419,441 Hampden v. Earl of Buckinghamshire 122 258, 252 L.T. 41 .495, 496, 506, 515 James, re; Bagot's Executor & Trustee [1893] 2 Ch. 531 ... 77, 86, 91, 133, 134, 135 Heighington v. Grant (1840) 5 My. & Cr How v. Carman [1931] S.A.S.R. 413 .. 580, 588 Co. v. McGregor [1949] S.A.S.R. 143. 395, Hancock v. Heaton (1874) 30 L.T. 592 .. 545, 258 477 Howe v. Lord Dartmouth (1802) 7 Ves. 412 558 Heine Bros (Australia) v. Forrest [1963] 137 122 James v. Eve (1873) L.R. 6 H.L. 335 .... 114 - v. Smith (1889) 41 Ch.D. 456 ..... 228 V.R. 383 338 Howell v. Bennett & Fisher [1966] Jarvis, re; Edge v. Jarvis [1958] 1 W.L.R. Hankey v. Garratt (1792) 1 Ves. 236 . . . 252 Helmore v. Smith (No. 1) (1886) 35 Ch.D. S.A.S.R. 188 580 815 269, 275, 276 Harman's King (Browning) Gold Mining 436 236 Hubbard v. Vosper [1972] 2 Q.B. 84. 358, 360 Jeffreys v. Boosey (1854) 4 H.L.C. 815 .. 294 Co., re (1898) 14 T.L.R. 314 . . . . . . . . 88 Henry v. Great Northern Railway Co. Hughes exp. (1802) 6 Ves. 617 414 -- v. Dickson (1866) L.R. 1 Ch.App. Hardman v. Johnson (1815) 3 Mer. 347. 610 (1857) 1 DeG. & J. 606 122, 144, 145 Huguenin v. Baseley (1807) 14 Ves. 273. 180, 183.............................. 24 Hardwicke (Lord) v. Vernon (1799)4 Ves. -- v. Hammond [1913] 2 K.B. 515 ... 218, 182 Jenkins v. Parry (1866) 14 L.T. 503 .... 599 411 402 219, 224 Huish's Charity, re (1870) L.R. IO Eq. 5. 644 Jenner & Keighran's Contract, re [1925] Hare, re; Leycester-Penrhyn v. Leycester- Henry (Keith) & Co. v. Walker (Stuart) Hulton, re; ex p. Manchester & County V.L.R. 283 . . . . . . . . . . . . . . . . . . . . . . . 78 Penrhyn (1908) 43 L.Jo. 659 91, 104 & Co. (1958) 100 C.L.R. 342 ..... 468, 602 Bank (1891) 8 Morr. 68 288 Jennings v. Zilahi-Kiss (1972) 2 S.A.S.R. Harford v. Purrier (1816) 1 Madd. 532 . 192 Hessev. Briant(1856)6DeG. M. &G. 623 446 Humphreys & Walter, re (1931) 3 A.B.C. 493 580 Harlowe's Nominees v. Woodside (Lake's Hesse (Princess Anne) v. Field [1963] 254 653 Jensen v. Luscombe [1938] St.R.Ad. 366. 191 Entrance) Oil Co. (1968) 42 A.L.J.R. N.S.W.R. 998 485, 486, 583 Hunnings & Co. v. Hall [1932] 4 D.L.R. Jenyns v. Public Curator (Qld) (1952-53) 123 150 Heydon, re (1901) 1 S.R.(N.S.W.)(L.) 81 489 270 196 90 C.L.R. 113 . . . . . . . . . . . . . . . . . . . . 176 Harmer (H.R.) Ltd, re [1959] I W.L.R. Heywood v. Pryor (1906) 23 W.N. Hunt's Settled Estates, re; Butteel v. Jirna v. Mister Donut of Canada 22 62 627, 657 (N.S.W.) 44 453 Lawdeshayne [1905] 2 Ch. 418; [1906] D.L.R. (3d) 639; 40 D.L.R. (3d) 303 . 468 Harington v. Hogart (1830) 1 B. & Ad. Hickman, re (1943) 13 A.B.C. 138 653 2 Ch. 11 91, 107, 122, 126 Joachinson v. Swiss Bank Corporation 577 231 Hickley v. Hickley (1876) 2 Ch.D. 190 424, Hunter v. Mann [1974] Q.B. 767. 301, 309, [1921] 3 K.B. 110 229, 298 Harrington v. Victoria Graving Dock 450 311, 355 Johnson v. Bones [1970] 1 N.S.W.R. 28. 436, Co. (1878) 3 Q.B.D. 549 ..... 501, 506, 514 Higginbottom, re [1892] 3 Ch. 132 . . . . . 45 Hutchinson v. Newark (1850) 3 DeG. & 438 Harris v. Jenkins (1922) 31 C.L.R. 341 .. 179, Hill, re; Claremont v. Hill [1934] Ch. 623 479 S. 727 312 - v. Buttress (1936) 56 C.L.R. 113 .. 172, 416 Hill v. Permanent Trustee Co. (1933) 33 Huth, exp.; re Pemberton (1840) 4 Deac. 173, 174, 176, 177, 179, 180, 181 -- v. North Devon Railway Co. (1855) S.R.(N.S.W.) 133, 134 294 420 - v. Marriott [1833) 2 Cr. & M. 183 .. 312 20 Beav. 384 53, 67 Hindle v. John Cotton Ltd (1919) 56 Hutton v. West Cork Railway Co. (1883) Johnstone v. Johnstone (1902) 2 S.R. - v. Truman (1882) 9 Q.B.D. 264 211 Sc.LR. 625 86, 148 23 Ch.D. 654 . . . . . . . . . . . . . . . . . . . . . 95 (N.S.W.) (Eq.) 90 646, 648 Harrods Ltd v. Lemon [1931] 2 K.B. 157. 593 Hippisley v. Knee Brothers [1905] 1 K.B. Hyman v. Perpetual Trustee Co. ofNSW Jones, re; Jones v. Cusack-Smith [1931] Harsant v. Blaine, MacDonald & Co. 1 488,489,490,514,593 (1914) 14 S.R. (N.S.W.) 348 120 1 Ch. 375 . . . . . . . . . . . . . . . . . . . . . . . . 48 (1887) 56 L.J.Q.B. 511 248 Hirsche v. Sims [1894] A.C. 654 156 Jones v. Bouffier (1911) 12 C.L.R. 579 ... 392, Harse v. Pearl Life Assurance Co. [1904] Hirst, re Hirst v. Wilson [1954] St.R. Qd Icknield Development, re [1973] 1 W.L.R. 398,405 1 K.B. 558 170 344.............................. 58 537 635 - v. Canavan [1971) 2 N.S.W.L.R. Haskew v. Equity Trustees, Executors & Hivac v. Park Royal Scientific Instru Imeson v. Lister (1920) 149 LT.Jo. 446. 437, 243; [1972) 2 N.S.W.L.R. 236 ... 585, 588, Agency Co. (1919) 27 C.L.R. 231 .177, 181 ments [1946] Ch. 169 ... 316, 317, 614, 616, 445,446, 583, 586 591 Haslam & Hier-Evans, re (1902] 1 Ch. 619 Imperial Land Co. of Marseilles, re; exp. - v. Linton (1881) 44 L.T. 601 533 765 503, 583 Hobday v. Peters (No. 1) (1860) 28 Beav. Larking, (1877) 4 Ch.D. 566 ..... 597, 600 - v. Maynard [1952) Ch. 572 117 Hastings-Bass (Deceased), re; Hastings 349 407, 412 Imperial Mercantile Credit Association - v. Mueller [1911) Q.W.N. 44 592 Bass v. Inland Revenue Commissioners Hobkirk v. Ritchie (1933) 29 Tas.S.R. 14. 643, v. Coleman L.R. 6 H.L. 189 ..... 479, 527 Jordy v. Vanderpump (1920) 64 Sol.Jo. [1975] Ch. 25 . . . . . . . . . . . . . . . . . . . . . 83 647 Inche Noriah v. Shaik Allie Bin Omar 324 488, 491 Hatch v. Hatch (1804) 9 Ves. 292 176 References are to paragraph numbers [1929] A.C. 127 180, 181 References are to paragraph numbers

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Fiduciary obligations PDF

169 Pages·1977·55.94 MB·English
by  P. D Finn
#Law #Jurisprudence
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COOMA. LAU & LOH LIBRARY FIDUCIARY OBLIGATIONS UNITED KINGDOM Sweet & Maxwell Ltd. London CANADA AND U.S.A. by The Carswell Company Ltd. Agincourt, Ontario P. D. FINN B.A., LLB. (Qld), LL.M. (Lond.), Ph.D. (Cantab.) NEW ZEALAND Senior Lecturer in Law, The Australian National University Sweet & Maxwell (N.Z.) Ltd. Wellington Cooma, Lau & Loh HONG KONG LlBftf\.RY Swindon Book Company Hong Kong K<:a·l PIN PAKISTAN Pakistan Law House 10 DEC 1988 Karachi 221 SINGAPORE: MALAYSIA: BRUNEI Malayan Law Journal (Pte) Ltd. Singapore THE LAW BOOK COMPANY LIMITED SYDNEY MELBOURNE BRISBANE PERTH 1977 Published in Sydney by The Law Book Company Limited 301-305 Kent Street, Sydney 389-393 Lonsdale Street, Melbourne 27-35 Turbot Street, Brisbane PREFACE 6 Sherwood Court, Perth The sole purpose-and justification-of this book is to fill a gap in the writings on Equity. Unlike trusts and equitable remedies, fiduciary obli gations have escaped sustained attention by legal commentators. It is hoped that the following pages will serve to dispel many of the miscon ceptions and mysteries which currently bedevil this branch of the law. National Library of Australia Insofar as a seemingly amorphous mass of case law has permitted, I have Cataloguing-in-Publication entry attempted to outline the general principles and rules which inform judicial supervision of fiduciaries. Consequently I have not concerned myself with Finn, Paul D. presenting a description of the possible fiduciary incidents of particular Fiduciary obligations. legal relationships such as principal and agent or trustee and beneficiary. Index. Indeed, in my view, these "incidents" can only be understood properly after ISBN O 455 19589 7. one first divines the purport and nature of Equity's regulation of fiduciaries. And thus one must go back to the general rules and principles. 1. Trusts and trustees-Australia. 2. Fiducia. The manner in which the case law has been packaged and presented here I. Title. simply represents my own appreciation of the existing law. Doubtless others 346.94059 may see it differently. In coming to my conclusions I have benefited greatly from the comments, doubts and criticisms of others-particularly from Professor Gareth Jones of Trinity College, Cambridge, Dr L. S. Sealy of Gonville & Caius College, Cambridge, W. A. Lee of the University of Queensland, and my wife and colleague Mary. For typing the manuscript, proof reading and preparation of tables, I must thank Mrs Denise Ho kin of Queensland University and Mark Richardson of the Australian National University. The law is stated as at August 1976. © The Law Book Company Limited 1977 P.D.F. This book is copyright. Apart from fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part m_ay. be August, 1976 reproduced by any process without written permission. Inquiries should be addressed to the publisher. Typeset by Queensland Type Service Pty Ltd, Brisbane. Printed by Hogbin, Poole (Printers) Pty. Ltd., Redfern. N.S.W. v :"""f-.-.- TABLE OF CONTENTS PAGE Preface . v Table of Cases . xiii Table of Statutes . xxxiii CH. 1. FIDUCIARIES : . Fiduciary Powers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Standards of Loyalty and Fidelity . . . . . . . . . . . . . . . . . . . . . . . . . 3 PART I FIDUCIARY OFFICES AND THE FIDUCIARY'S DUTY TO ACT HONESTLY IN WHAT HE ALONE CONSIDERS TO BE THE INTERESTS OF HIS BENEFICIARIES CH. 2. THE FIDUCIARY OFFICE............................... 8 1. A Position which Exists for the Benefit of Others. . . . . . . . . . 9 2. The Source of the Fiduciary's Powers and Duties . . . . . . . . . 12 3. The Fiduciary Alone Determines how the Interests of his Beneficiaries are to be Served . . . . . . . . . . . . . . . . . . . . . . . . . . 13 CH. 3. THE FIDUCIARY OBLIGATION . . . . . . . . . . . . . . . . . . . . . . . . . . 15 CH. 4. APPOINTMENTS To FIDUCIARY OFFICES. . . . . . . . . . . . . . . . . . 18 CH. 5. DELEGATION OF DISCRETIONS. . . . . . . . . . . . . . . . . . . . . . . . . . 20 CH. 6. ACTING UNDER DICTATION . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 The Fiduciary's Autonomy... . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 "Having Regard to Beneficiaries' Wishes" . . . . . . . . . . . . . . . . . . 23 CH. 7. FETTERING DISCRETIONS . 25 The Limits of the Rule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 The Proper Time to Exercise a Discretion . . . . . . . . . . . . . . . . . . 27 The Consequences of an Improper Fetter. . . . . . . . . . . . . . . . . . . 30 The Release of Powers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Covenants not to Exercise Powers. . . . . . . . . . . . . . . . . . . . . . . . . 33 CH. 8. THE DUTY To CONSIDERW HETHER A DISCRETION SHOULD BE EXERCISED . 34 The Duty to Consider and Exercises of Power Devoid of any Exercise of Discretion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 CH. 9. JUDICIAL REVIEW OF THE EXERCISEO F DISCRETION . 38 Judicial Review And The Fiduciary Obligation . . . . . . . . . . . . . . . . . 38 The Fiduciary as Donee of Limited Powers . . . . . . . . . . . . . . . . . 39 The Fiduciary as Fiduciary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 CH. 10. THE REQUIREMENTSO F THE FIDUCIARY OBLIGATION IN EXERCISING A DISCRETION. . . . . . . . . . . . . . . . . . . . . . . . . . 45 The Four Duties........................ . . . . . . . . . . . . . . . . 45 vii viii TABLE OF CONTENTS TABLE OF CONTENTS ix PAGE PAGE CH. 11. THE FIDUCIARY'S DuTY NoT To Acr FoR His OwN B. Fiduciary Positions and Property Other Than Money-Limited BENEFIT OR FOR THE BENEFIT OF ANY THIRD PERSON. .. 47 Right of Beneficial User . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95 1. Partnerships. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95 Own Benefit · · · · · · · · · · · · · · · · · 47 2. Fiduciary Positions in General . . . . . . . . . . . . . . . . . . . . . . . . . 98 1. Powers Authorising a Personal Interest . 49 2. Incidental Benefits which are Inevitable Consequences of C. Fiduciary Position and Money-No Right of Beneficial User... 99 Exercising a Power . 49 1. "Trusts" in General . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99 3. The Personal Interest Disclosed . 51 2. Trusts of Money Received from Another, or for or on his Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101 Benefi.!s To T?/rd Person_s . 51 1. Group Companies ; . 52 D. Fiduciary Positions and Money-Limited Rights of Beneficial 2. Third Persons and "The Interests of the Company" . 53 User . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 3. Nominee Directors . 54 1. Loan-type Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 2. Other Fiduciary Positions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 CH. 12. THE DUTY To TREAT BENEFICIARIESO F THE SAME CLASS EQUALLY ,·, . 56 CH. 18. MISUSE OF PROPERTY HELD IN A FIDUCIARY CAPACITY: THE LIABILITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 CH. 13. THE DUTY To TREAT BENEFICIARIESO F DIFFERENT CLASSES A. Profits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 FAIRLY ~ . 59 1. Profits Derived From The Misuse of Trust Moneys . . . . . . . . . . 113 1. Decisions taken for the Purpose of Advantaging/Dis- (a) The Liability to Pay Interest . . . . . . . . . . . . . . . . . . . . . . . . . . 113 advantaging only some of the Beneficiaries . 60 (b) The Liability for Actual Profits Attributable to Money 2. Decisions which are Unfair in their Consequences to some Misused . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117 of the Beneficiaries . 62 (c) The Liability to Deliver up Specific Property or to Hold Companies And The Duty To Act Fairly . 64 it Subject to a Lien or to a Constructive Trust. . . . . . . . . . . . 122 Fairness as between Classes of Shareholders . 69 2. Profits Derived From The Misuse of Property Other Than Advantaging/Disadvantaging only some of the Shareholders .. 70 Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124 3. Profits Derived by Virtue of Legal Ownership . . . . . . . . . . . . . . . 126 CH. 14. THE DuTY NoT To Acr CAPRICIOUSLY OR TOTALLY UNREASONABLY . 75 B. Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127 "Absolute" Discretions . 76 CH. 19. THE DUTY OF CONFIDENCE . . . . . . . . . . . . . . . . . . . . . . . . . . . 130 PART II "Things of Confidence" . 130 Duties of' Confidence Imposed by Express Contractual Stipulation. . 135 THE DUTIES OF GOOD FAITH The Implied or Imposed Duty of Confidence . . . . . . . . . . . . . . . . . . . 136 The Duty of Confidence: The Nature of the Relationship . . . . . 137 CH. 15. THE DUTIES OF GOOD FAITH . 78 The Duty of Confidence: The Circumstances of the Communi- 1. Undue Influence . 79 cation and the Nature of the Information . . . . . . . . . . . . . . 143 2. The Misuse of Property Held in a Fiduciary Capacity . 79 Duties of Confidence and Limited Rights of Beneficial User. . . 151 3. The Misuse of Information Derived in Confidence . 79 Indirect or Triangular Relationships of Confidence . . . . . . . . . . 152 4. Purchases of Property Dealt with in a Position of a The Duty of Confidence-the Just Cause or Excuse Exceptions. 156 Confidential Character . 79 Breach of Confidence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159 5. Conflict of Duty and Interest . 80 Breach of Confidence and Third Parties . . . . . . . . . . . . . . . . . . . . 161 6. Conflict of Duty and Duty . 80 Knowing and Unknowing Breaches of Confidence........... 162 7. Renewals of Leases and Purchases of Reversions . 80 Remedies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 8. Inflicting Actual Harm on an "Employer's" Business . 80 U.K. Proposals for Reform of Breach of Confidence . . . . . . . . . 168 CH. 16. UNDUE INFLUENCE . 82 CH. 20. PURCHASES OF PROPERTY DEALT WITH IN Posrrroxs OF A The Presumption of an Undue Exercise of Influence . 83 CONFIDENTIAL CHARACTER. . . . . . . . . . . . . . . . . . . . . . . . . . 169 A Relationship of Influence . 84 Rebutting the Presumption . 86 The Purchasing Rule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169 Positions of a Confidential Character . . . . . . . . . . . . . . . . . . . . . . 170 Dispositions In Favour of Third Persons . 87 The Rule of Automatic Avoidance-No Consent Obtained . . . 180 oi. 17. THE Mrsuss OF PROPERTY HELD IN A FIDucIARY CAPACITY 89 TAh eC oRnutilneu ionfg" FDaiirsnabeislist"y- C. . o. n. s.e .n .t . .O . b. .t a. i. n. e. d. .. .. ... .. ... ... .. ... ... ... . . . . . . 118940 A. Fiduciary Positions and Property Other Than Money-No Right Assisting Another to Purchase . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191 of Beneficial User . 90 Sales to Spouses and Relatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . 193 1. The Legal Owner Fiduciary . 90 Sales to Companies, Partnerships and Trusts . . . . . . . . . . . . . . . . 193 2. The Fiduciary in Possession or Control of Another's Fiduciary Purchasing from a Mortgagee. . . . . . . . . . . . . . . . . . . . 194 Property . 93 The Consent of the Court to Purchases. . . . . . . . . . . . . . . . . . . . . 195 TABLE OF CONTENTS xi TABLE OF CONTENTS x PAGE PAGE B. Company Liquidators . 276 195 Statute and the Purchasing Rule . Winding Up by the Court . 277 Trustees in Bankruptcy, Liquidators, Committees of Inspection 195 Mem_bers' Voluntary Winding Up . 279 Auctioneers, Estate Agents, etc . 196 Creditors' Voluntary Winding Up . 279 197 Dealers in Securities . 197 C. Trustees . 279 Company Directors : Powers to Appoint New Trustees . 280 The Purchasing Rule and the Mortgagee's Power of Sale . 198 Appointment by the Court . 280 D. Trustees in Bankruptcy . 282 199 CH. 21. CONFLICT OF DUTY AND INTEREST . E. Company Directors . 284 200 The Reason for the Rule . 201 A Fiduciary . Index . 287 205 A. Unauthorised Remuneration . 206 1. Self Employment for Reward . 209 2. Director's Fees and Partner's Profits . 3. Discounts, Rebates, Introduction Fees, and Usual Com- 211 missions · · 213 4. Tips and Gratuities . 214 5. Bribes and Secret Commissions . B. Assuming a Double Character . 222 223 1. Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . · . · · · · · · 2. Sales . 223 228 3. Trade Dealing with a Business Managed as a Fiduciary . 230 4. Loans . C. Benefits Derived to the Exclusion of the Beneficiary . . . . . . . . . . 231 1. A Fiduciary Cannot, in his Private Capacity, Derive any Benefit which his Undertaking Authorises or Requires him to Pursue in his Representative Capacity. . . . . . . . . . . . . 232 2. A Fiduciary Cannot Retain a Profit Derived through Use of his Fiduciary Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 246 CH. 22. CONFLICT OF DUTY AND DUTY. . . . . . . . . . . . . . . . . . . . . . . . 252 An Actual Conflict of Duties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 253 Avoidance of the Transaction Effected Between the Bene- ficiaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 254 The Personal Remedy against the Fiduciary . . . . . . . . . . . . . . . . 255 Forfeiture of Commission or Fees . . . . . . . . . . . . . . . . . . . . . . . . . 257 CH. 23. PURCHASING DEBTS AND lNCUMBRANCES: RENEWING LEASES AND PURCHASING REVERSIONS . . . . . . . . . . . . . . . . 259 A. Debts and Jncumbrances................................. 259 1. The Purchasing Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 259 2. Conflict of Duty and Interest ·. . . . . . . . . . . . . . 260 B. Leases and Reversions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 261 1. Renewals of Leases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 262 2. Purchases of Reversions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 264 CH. 24. HARMING AN "EMPLOYER'S" BUSINESS . . . . . . . . . . . . . . . . . . 266 APPENDIX A: SPECIAL POWERS OF APPOINTMENT . . . . . . . . . . . . . . . . . 270 1. The Donee's Position is a "Fiduciary Position"... . . . . . . . . 271 2. Exercising the Power "Fiduciarily" . . . . . . . . . . . . . . . . . . . . . 271 3. A Special Power is a "Fiduciary Power"................. 272 Powers to Appoint to Fiduciary Offices. . . . . . . . . . . . . . . . . . . . . . . . 273 APPENDIX B: APPOINTMENTS To FIDUCIARY OFFICES . . . . . . . . . . . . . . 274 A. Receivers/ Managers Appointed by the Court . . . . . . . . . . . . . . 274 TABLE OF CASES A (a person of unsound mind), re [1904] 2 Aluminium Industrie Vaassen v. Rom Ch. 328 624 alpa Aluminium [1976] I W.L.R. 676. 194, A. & B. C. Chewing Gum, re; Topps 196 Chewing Gum v. Coakley [1975] I Amalgamated Properties of Rhodesia, W.L.R. 579 . . . . . . . . . . . . . . . . . . . . . . 16 re (1914) 30 T.L.R. 405 641 Aas v. Benham [1891] 2 Ch. 244 .... 546, 547 Amalgamated Television Services v. Tele Abbotsford Hotel v. Kingham (1910) IOI vision Corporation [1969) N.S.W.R. L.T. 777 150 257 468 Aberdeen Town Council v. Aberdeen Amber Size & Chemical Co. v. Menzel University (1877) 2 App.Cas. 544 .... 183, (1913) 30 R.P.C. 433 336 280, 441, 569 Amway Corporation v. Eurway Inter Abernethy v. Hutchinson (1824) I H. & national [1974) R.P.C. 82 ... 322, 331, 332, Tw. 28 294, 297, 305, 343 335 Abrahams' Will Trusts, re; Caplan v. Anderson, re; Tebbutt v. Anderson Abrahams (1969] I Ch. 463 625 (1901) I S.R. (N.S.W.) (Eq.) 223 ..... 280 Ackroyds (London) v. Islington Plastics Andrews v. Mowbray (1807) Wils. Ex. 71 390, (1962] R.P.C. 97 ... 301, 327, 335, 378, 382 391, 392,405,433,438 Acts Oil v. Pacific Petroleums 27 D.L.R. -- v. Ramsay & Co. [1903) 2 K.B. 635 514, (3d) 444. . . . . . . . . . . . . . . . . . . . . . . . . . 545 592 Adams v. Adhesives Pty. Ltd. (1932) 32 Anglo-African Merchants v. Bayley S.R.(N.S.W.) 398 149, 583 [1970] I Q.B. 31 l 586 -- v. Kingsway Home Finance Co. Anglo-Universal Bank v. Baragnon [1966] I N.S.W.R. 683 588 (1881) 45 L.T. 362 146, 150 Adamson v. Kenworthy (1931) 49 R.P.C. Anon. ( 1707) l Salk. 155 . . . . . . . . . . . . . 594 57 548, 549 Ansell Rubber Co. v. Allied Rubber Agra & Masterman's Bank, re; ex. p. Industries [1967) V.R. 37 ... 306, 335, 336, Waring (1866) 36 L.J. Ch. 151 229 382 Agricultural Industries Ltd, re, [ 1952) Ansett v. Butler Air Transport (No. I) I All E.R. 1188 44,49,635 (1958) 75 W.N. (N.S.W.) 299 150 Ailesbury's (Marquis) Settled Estates, Anson v. Potter (1879) 13 Ch.D. 141.... 47 re, [1892] 1 Ch. 506; [1892) A.C. 356 . 133, Archer's Case; re North Australian 134 Territory Co. [1892] 1 Ch. 322 510 Airlines Airspares v. Handley Page (1970] Ardlethan Options v. Easdown (1915) Ch. 193 _127 20 C.L.R. 285 511 Albert (Prince) v. Strange (1849) l Mac. Argyl (Duchess) v. Argyl (Duke) [1967) & G. 25 352, 369 Ch. 302 298, 305, 319, 376 Albion Steel & Wire Co. v. Martin (1875) Armstrong v. Jackson [1917] 2 K.B. 822 .. 464, l Ch.D. 580 . . . . . . . . . . . . . . . . . . . . . . 529 518, 520 Alexander v. Automatic Telephone Co. Ashburton (Lord) v. Pape [1913] 2 Ch. (1900) 2 Ch. 56 I 19, 120, 151, 152 469 344, 350 Allcard v. Skinner (1887) 36 Ch.D. 145. 172, Ashburton Oil N.L. v. Alpha Minerals 173, 176, 179, 180 N.L. (1971) 45 A.L.J.R. 162 70, 150 Allebart Pty. Ltd. (in Liq.) & The Com Associated Provincial Picture Houses v. panies Act, re, (l 971] l N.S.W.L.R. 24. 634 Wednesbury Corporation [1948] 1 K.B. Allen v. Gold Reefs of West Africa [1900] 223 156 2 Ch. 656 139 Association of Land Financiers, re ( 1878) - v. Hyatt (1914) 30 T.L.R. 444 20, 468 10 Ch.D. 269 638 Allen-Meyrick's Will Trusts, re; Mang- Atlas Engineering Co, re; Davy's case nall v. Allen-Meyrick (1966] l W.L.R. (1889) 10 N.S.W.R. (Eq.) 179 104 499 30, 58 Attorney-General v. Alford (1855) 4 Allison v. Clayhills (1907) 97 L.T. 709 .. 176, DeG., M. & G. 843 248, 250 417,439,444 -- v. Cape (Jonathan) [1975] 3 W.L.R. Alperton Rubber Co. v. Manning (1917) 606 298, 328 86 L.J.Ch. 377 .... 315, 336, 338, 339, 378, 382 References are to paragraph numbers xiii TABLE OF CASES xv xiv TABLE OF CASES Birkdale District Electric Supply Co. v. Corporation v. Couper [1894] A.C. 399 118 Attorney-General v. Dudley(Lord)(l815) Barclays Bank v. Quistclose Investments Southport Corporation [1926] A.C. British American Oil Producing Co. v. G. Coop. 146 420 [1970] A.C. 567 217, 233, 234, 235 355.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62 Midway Co. 82 P. (2d) 1049 (1938) -- v. Edmunds (1868) L.R. 6 Eq. 381. 263 Baring v. Stanton (1876) 3 Ch.D. 502 491 Birtchnell v. Equity Trustees, Executors (U.S.) 540, 545, 546 - v. Goddard (1929) 98 L.J.K.B. 743. 497, Barker v. Stickney [1919] 1 K.B. 121 206 & Agency Co. (1929) 42 C.L.R. 384 .. 541, British Berna Motor Lorries v. Inter 498, 511 Barnard v. Hunter (1856) 28 L.T.O.S. 152 406 545, 606 Transport Co. (1915) 31 T.L.R. 200 .. 280 --- v. National Gallery of N.S.W. Barnes (William R.) & Co. v. MacKenzie Biss, re; Biss v. Biss [ 1903) 2 Ch. 40 .... 602, British Celanese v. Moncrieff (1948) (Trustees) (1945) 62 W.N.(N.S.W.) 212 156 34 D.L.R. (3d)463 613,614,618 604, 607 65 R.P.C. 169 549 Attorney-General for N.S.W. v. Per Barr, Leary & Co. v. Hall (1906) 26 Bjorlow (Great Britain) v. Minter (1954) British Murac Syndicate v. Alperton petual Trustee Co. [1955] A.C. 457 ... 497 N.Z.L.R. 222 592 71 R.P.C. 321 322, 331, 336 Rubber Co. [1915] 2 Ch. 186 ..... 656, 657 Aubanel & Alabaster v. Aubanel (1949) Bartlett v. Shoe & Leather Record [1960] Black v. Freedman & Co. (1910) 12 British National Life Assurance Associ 66 R.P.C. 343 321, 613, 614, 618, 660 C.L.Y. 1151 614 C.L.R. 105 271 ation, re (1872) L.R. 14 Eq. 492 ..... 641 Austin v. Chambers (1838) 6 Cl. & F. 1 . 400, Barton v. Armstrong [1975] 2 W.L.R. -- v. Homersham (1878) 4 Ex.D. 24 .. 191 British Provident Life & Guarantee 402 1050 171 Blackham v. Haythorpe (1917) 23 C.L.R. Association, re; De Ruvigne's case Australasian Venezolana, re; Olsson v. Bartram & Sons v. Lloyd (1904) 90 L.T. 156 437, 441 (1877) 5 Ch.D. 306 . . . . . . . . . . . . . . . . 43 Vogel (1962) 4 F.L.R. 60 . . . . . . . . . . . 42 357 509, 585 Blair v. Martin [1929) N.Z.L.R. 225 469 British Reinforced Concrete Engineering Aurset r[a1l9ia5n6 ] VH.oLm.Re. Fli nance C18o4. , (1in8 7L, 2iq0.4) , 236 Ba6th1 8v . Standard Land Co. [1911] l Ch. 469 Blake, re; Jones v. Blake (1885) 29 Ch.D. Co. v. Lind (1917) 34 R.P.C. 101 ..... 548 513.............................. 88 British Syphon Co. v. Homewood [1956] Australian Metropolitan Life Assurance Bayne v. Stephens (1908) 8 C.L.R. l 253 Co. v. Ure (1923) 33 C.L.R. 199.88, 89, 156 Beale, re; ex p. The Board of Trade - v. Bayne (1908) 6 C.L.R. 179; 1 W.L.R, 1190 549, 566 reversing (1906) 4 C.L.R. 1 176 Brittlebank, re (1881) 30 W.R. 99 155 Automatic Self-Cleansing Filter Syn [1939] Ch. 761 35, 652, 655 Britton & Millard Ltd., re (1957) 107 dicate v. Cuninghame [1906] 2 Ch. 34. 45, Belchier, exp. (1754) Amb. 218 . . . . . . . 40 Blakeway v. Blakeway (1833) 2 L.J.Ch. 75 629 L.Jo. 601 582, 639, 641 114 Bell Brothers, re; exp. Hodgson (1891) Blausten v. Inland Revenue Commis Broadcasting Station 2GB re [1964-65] Automotive & General Industries, re 65 L.T. 245 84, 155, 156 sioners [1972] l Ch. 256 . . . . . . . . . . . . 71 N.S.W.R. 1648 114 [1975] V.R. 454 460 Bell v. Lever Brothers [1932] A.C. 161 .. 553, Block (H. & R.) v. Sanott [1976] 1 Brockbank, re; Ward v. Bates [1948] Aveley/Cybervox v. Bowman [1975] 660 N.Z.L.R. 213 336 Ch. 206 45, 47 F.S.R. 139 340 Bellr inger v. Blagrave (1847) 11 Jur. 406. 67 Bloye's Trust, re (1849) 1 Mac. & G. Brooks (William) & Co. & Companies Ayliffe v. Murray (1740) 1 Atk. 58 465 Beloff v. Pressdram Ltd. [1973] 1 All 488 402, 412 Act, re [1962) N.S.W.R. 142 ... 60, 77, 141 Ayr Harbour Trustees v. Oswald (1883) E.R. 241 360, 361 Blyth Chemicals v. Bushnell (1933) 49 Brooke Bond & Co.'s Trust Deed, re; 8 App. Cas. 623 61, 62, 68, 74 Bendigo Central Freezing & Fertilizer C.L.R. 66 582 Co. v. Cunningham [1919] V.L.R. 387. 494, Bole's & British Land Co.'s Contract, re Brooke v. Brooke Bond & Co. [1963) Ch. 357 409 B.C. Timber Industries Journal v. Black 509 (1902) 71 L.J.Ch. 130 444 Brook's Settlement, re; Brook v. Brook [1934] 3 D.L.R. 31. 195, 284 Bennett, exp. (1805) 10 Yes. 381 .. 410, 445, Bond v. Barrow Haematite Co. [1902] [1968) 1 W.L.R. 1661 621, 624 B.L.B. Corporation of Australia Estab 446,449 1 Ch. 353 . . . . . . . . . . . . . . . . . . . . . . . . 77 Brooks v. Alker 9 O.R. (2d) 409 (1976). 176 lishment v. Jacobson (1974 48 A.L.J.R. Bennett v. Gaslight & Coke Co. (1882) Bond (George A.) & Co. v. Bond (1930) Broughton v. Broughton (1855) 5 DeG. 372 436, 450 52 L.J.Ch. 98 . . . . . . . . . . . . . . . . . . . . . 602 30 S.R.(N.S.W.) 15 477 M. & G. 160 475, 477 Bacup (Corporation) v. Smith (1890) 44 Bennetts v. Board of Fire Commissioners Bond & Securities (Trading) v. Glomex Brown (Christina), re (1921) 22 S.R. Ch.D. 395 , . . . . . . . . . . . 45 of N.S.W. (1967) 87 W.N. (Pt. 1) Mines [1971] l N.S.W.L.R. 879 ..... 582 (N.S.W.) 90 644 Baden's Deed Trusts, re; McPhail v. (N.S.W.) 307 328 Bongiovanni v. Societe Generate (1886) Brown, exp.; re Smith (1886) 17 Q.B.D. Daulton [1971] A.C. 424 625 Benningfield v. Baxter (1886) 12 App. 54 L.T. 320 196 488 .42, 49, 155, 156 Bailey v. Birkenhead, Lancashire & Cas. 167 395, 402, 420 Bostitch Inc. v. McGarry & Cole [1964] -- v. De Tastet (1821) Jae. 284 269 Cheshire Junction Railway Co. (1850) Bentinck v. London Joint Stock Bank R.P.C. 173 . . . . . . . . . . . . . . . . . . . . . . . 367 -- v. Inland Revenue Commissioners 12 Beav. 433 145 [1893] 2 Ch. 120 196 Boston's Will Trusts, re; Inglis v. Boston [1965) A.C. 244 261 Bainbrigge v. Browne (1881) 18 Ch.D. Bentley v. Craven (1853) 18 Beav. 15 529 [1956] Ch. 395 90, 123, 134 -- v. Litton (1711) 1 P.Wms. 140 269 188 182 Bents Brewery Co. v. Hogan [1945] 2 Boston Deep Sea Fishing & Ice Co. v. Brown's Settlement, re; Public Trustee Baker v. Gibbons [1972] 2 All E.R. 759. 321, All E.R. 570 315, 336 Ansell (1888) 39 Ch.D. 339 .. 495, 511, 514 v. Brown [1939) 1 Ch. 944 ..... 19, 71, 622 338 Berk v. Permanent Trustees Co. (1947) Boswell v. Coaks (1883) 23 Ch.D. 302; -- v. The Wickham & Bullock Island -- v. Palm Bay Island Resort (No. 2) 47 S.R. (N.S.W;) 459 181, 182 (1886) 11 App. Cas. 232 407, 453 Coal Co. (1894) 15 N.S.W.R.(L.) 306. 41 [1970] Qd.R. 210 504 Berkley (a lunatic), re; Berkeley v. Berley Boulting v. A.C.T.A.T. [1963] 2 Q.B. Brusewitz v. Brown [1923) N.Z.L.R. Bakewell v .. Holme (1943) 44 S.R. (1874) L.R. 9 Ch. App.no 650 606 113, 472, 474, 1106 176,181 (N.S.W.) 150 133 Berwick-upon-Tweed (Mayor) v. Murray 542, 567, 582 Bryant, re; Bryant v. Hickley [1894] Ballantyne v. Stokle (1924) 27 W.A.R. (1857) 7 De.G. M. & G. 497 250 Bowes v. The City of Toronto (1858) 11 1 Ch. 324 . . . . . . . . . . . . . . . . . . . . . . . . 74 45 402 Bester v. Permanent Trustee Co. [1970) Moo.P.C. 463 597 Bulfield v. Fournier (1894) 11 T.L.R. 62. 489, Bamford v. Bamford [1970] Ch. 212 150, 3 N.S.W.R. 30 177, 181 Bradshaw, re; Bradshaw v. Bradshaw 509 151, 152 Bevan v. Webb [1905] 1 Ch. 620 610 [1902] l Ch. 436 67, 621, 624 Bullock v. Lloyds Bank [1955] Ch. 317 . 176, Bank of New South Wales v. Rogers Bewdley Election Petition, re; Spencer Brady v. Stapleton ( 1952) 88 C.L.R. 322. 273 181, 182 (1941) 65 C.L.R. 42 181, 182 v. Harrison (1881) 44 L.T. 283 504 Bray v. Ford [1896] A.C. 44 462, 465 Bulmer, re; ex p. Greaves [1937) Ch. Bank of South Australia (No. 2), re Biel's Estate, re; Gray v. Warner (1873) Brenner v. Rose [1973] 1 W.L.R. 443 .. 610 499 395,409,420,454,457 (1895) 2 Mans. 129 635 LR. 16 Eq. 577 392, 395 Brentnall's Trusts, re [1872] W.N. 77 650 Burden v. Burden (1813) 1 V. & B. 170 .. 269, Barber, re; Burgess v. Vinicome (1886) Birch v. Cropper(1889) 14App. Cas. 525. 117 Briggs v. Massey (1881) 29 W.R. 926 280 277 34 Ch.D. 77 477 Bircheno v. Thop (1821) Jae. 300 305, - v. Parsloe [1937] 3 All E.R. 831 644 Barclay v. Harris and Cross (1915) 85 312, 350 British & American Trustee & Finance References are to paragraph numbers L.J.K.B. 115 250 References are to paragraph numbers xvi TABLE OF CASES TABLE OF CASES xvii Burdett-Coutts v. Inland Revenue Com Chirnside v. Chirnside [ 194 7] V. L. R. 183 . 134 Collins v. Barker [1893] 1 Ch. 578 633 Crosskill v. Bower (1862) 32 Beav. 86 .. 533 missioners [1960] 1 W.L.R. 1027 ..... 201 Cholmondeley (Earl) v. Lord Clinton Collins (Brian D.) Engineers v. Charles Crowe v. Ballard (1790) 2 Cox 253 .. 402, 420 Burdick v. Garrick (1870) L.R. 5 Ch.App. (1815) 19 Yes. 261 305, 312 Roberts & Co. [1965] R.P.C. 429 .. 327, 378 Cuckmere Brick Co. v. Mutual Finance 233 248, 250, 252, 254 Christie v. Robinson (1907) 4 C.L.R. Commercial Plastics v. Vincent [1965] 1 [1971] Ch. 949 . . . . . . . . . . . . . . . . . . . . 17 Burland v. Earle [1902] A.C. 83 .... 248,250, 1338 231 Q.B. 623 ; . . . . . . . . . 338 Cuddon v. Tite (1858) I Giff. 395 192 252, 254 Christoforides v. Terry [1924] A.C. 566. 402, Commissioner of Stamp Duties (Qld) v. Cudgen Rutile (No. 2) v. Chalk [1975] Burrell v. Burrell's Trustees [1915] S.C. 422 Livingston [1965] A.C. 594 187 A.C. 520......................... 68 333 448 Christophers v. White (1847) 10 Beav. Commissioners of Crown Lands v. Page Cumberland Holdings, CCH Australian - v. Mossop (1884) 4 T.L.R. 270 502 523 479 [1960] 2 Q.B. 274.. . . . . . . . . . . . . . . . . 68 Company Law Cases, re, 1975-1976, Burt v. Claude Cousins & Co. [1971] Church of Scientology of California v. Commonwealth v. Roydhouse 82 Atl. 74 40-250 102 2 Q.B. 426 231 Kaufman [1973] R.P.C. 635 ..... 318, 343, (1911) (U.S.) .. . . . . .. . . . . . . .. .. . . . 47 Cunningham's Settled Estates, re (1910) Burt, Boulton & Hayward v. Bull [1895] 358, 360 Consul Development v. D.P.C. Estates 27 W.N.(N.S.W.) 28 648 1 Q.B. 276 50, 89 City & County Investment Co., re (1877) (1974-75) 5 A.L.R. 231 548, 554 Bute's (Marquis) case; re Cardiff Savings 25 W.R. 342 639, 641 Contract Corporation, re; Gooch's case Dadswell v. Jacobs (1887) 34 Ch.D. 278. 336 Bank [1892]2 Ch. 100. . . . .. . . . . . . . . 405 - (1879) 13 Ch.D. 475 582 (1871) L.R. 7 Ch.App. 207 122 Dale v. Inland Revenue Commissioners Butt v. Kelson (1952] Ch. 197 . . . . . . . . . 47 City Equitable Fire Insurance Co., re Conveyor Co. of Australia v. Cameron (1954] A.C. 11 .465, 475 [1925] Ch. 407 . . . . . . . . . . . . . . . . . . . . 88 Bros. Engineering Co. [1973] 2 Dalgety & Co. v. Gray (1919) 26 C.L.R. Caird v. Sime (1887) 12 App.Cas. 326 .. 300, Clack v. Carlon (1861) 30 L.J.Ch. 639 .. 477, N.Z.L.R. 38 335, 353, 376, 383 249 (P.C.) 534 343 481 Conybeare's Settlement, ex p. (1853) 1 Dally v. Wonham (1863) 33 Beav. 154 .. 395, Campbell, re; Rowe v. McMaster (1973] Claridge, re (1901) 7 A.L.R. 104 655 W.R. 458 648 404, 437 2 N.S.W.L.R. 146 133 Clark, re; Clark v. Moore (1920) 150 Coode, re; Coode v. Foster (1913) 108 Dargusch v. Sherley Investments [1970] Campbell v. Walker (1800) 5 Yes. 678; L.T.Jo. 94. . . . . . . . . . . . . . . . . . . . . . . . 450 L.T. 94 644 Qd R. 338 583, 593 (1807) 13 Yes. 601 420 Clark v. Clark (1884) 9 App.Cas. 733 ... 416, Cook v. Deeks [1916] l A.C. 554 .. 558, 570, Davidson v. Grange (1854) 4 Gr. 377 Canadian Aero Services v. O'Malley 425 571 (Can.) , . . . . . . . 657 40 D.L.R. (3d) 371 573, 574 - v. Smith [1940] 1 K.B. 126 . . . . . . . 68 Cooke, re; Winckley v. Winterton [1922] Davies v. Clough (1937) 8 Sim. 262 .... 312 Cane v. Allen (1814) 2 Dow. 289 397, 417, -- v. Workman [1920] Ir.R. 107 51, 70 l Ch. 292 621 Davis, re; Davis v. Davis [1902] 2 Ch. 439 Clarkson v. Davies (1923] A.C. 100 511 Coomber, re; Coomber v. Coomber 314 248, 252, 254 Cannon v. Trask (1875) L.R. 20 Eq. 669 141, Clay v. Rufford (1852) 5 DeG. & Sm. 768. 51, [1911] 1 Ch. 723 I, 467 Dawes, re (1934) 7 A.B.C. 190 653 146, 149, 150, 153 53,67 Coopers Ltd., re (1897) 14 T.L.R. 144 .. 635 Dawson, re; Union Fidelity Trustee Co. Cape Breton Co., re (1885) 29 Ch.D. 795; Clegg v. Edmondson (1857) 8 DeG., M. Copp v. Lynch (1882) 26 Sol. Jo. 348. 488, 489 v. Perpetual Trustee Co. (1966) 84 and see on appeal sub.nom. Cavendish & G. 787 606 Coral Index v. Regent Index [1970] W.N. (Pt. 1) (N.S.W.) 339 ... 248, 253, 260 Bentinck v. Fenn (1887) 12 App.Cas. Clifford Deceased, re (1948] S.A.S.R. 83. 107, R.P.C. 147 . . . . . . . . . . . . . . . . . . . . . . . 338 Day v. Day; exp. Bank of N.S.W. (1892) 652 \ 520,52~52~52~529 111 Coronation Syndicate v. Lilienfeld [1903] 11 N.S.W.R. (Eq.) 190 134 Cardiff Savings Bank, re; Marquis of Clifton v. Mount Norgan (1940) 40 S.R. T.S. 489 (S.Af.) 73, 67, 6 Dean v. MacDowell (1878) 8 Ch.D. 345. 539, Bute's case [1892] 2 Ch. 100 405 (N.S.W.) 31 . . . . . . . . . . . . . . . . . . . . . . 45 Corsellis, re; Lawton v. Elwes (1887) 545, 546, 558, 618 Carter v. Palmer (1842) 8 Cl. & F. 657 .. 308, Clissold's Settlement, re (1864) 10 L.T. 34 Ch.D. 675 477 Debtor, A, re (1927] 2 Ch. 367 585 395,407,443, 445, 596, 597 642 650 Cory (William) & Son v. London Cor -- ex p. The Debtor v. Dodwell (The Cartmell's case (1874) L.R. 9 Ch.App. Clore's Settlement Trusts, re; Sainer v. poration [1951] 2 K.B. 476.......... 68 Trustee) [1949] Ch. 606 32, 128 691.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Clore [1966] 1 W.L.R. 955.......... 84 Cotter, re; Jennings v. Nye [19151 1 Ch. De Beer v. Graham (1891) 12 N.S.W.R. Cavendish Bentinck v. Fenn (1887) 12 Clutton, ex p. (1853) 17 Jur. 988 . . . . . . . 650 307; (1915) 84 L.J. Ch. 337 .. 627, 644, 650 (Eq.) 144 293 App. Cas. 652 447 Coalport China Co., re [1895] 2 Ch. 404. 88 Cotton, re; exp. Cooke (1913) 108 L.T. De Bussche v. Alt (1878) 8 Ch.D. 286 402, Chandler v. Bradley [1897] I Ch. 315 501, Cochrane v. Cochrane (1922] 2 Ch. 230. 623 310 220, 223 412,420 515, 523 Cock, re; Howden v. Cock [1915] V.L.R. Council of Auctioneers & Agents v. Delves v. Gray [1902] 2 Ch. 606 .... 420, 421 Chang v. Registrar of Titles (1976) 8 324.............................. 16 Alexander [1972] 2 N.S.W.L.R. 375 .. 402 Demerara Bauxite Co. v. Hubbard [1923) A.L.R. 283 190 Cockburn v. Edwards (1881) 18 Ch.D. · Courtier, re; Coles v. Courtier (1886) 34 A.C. 673 406,432,437,439 Chaplin v. Young (No. 2) (1864) 33 449 533 Ch.D. 136 156 Denton v. Donner (1856) 23 Beav. 285 .. 430 Beav. 414 529 Coch, ex p.; re Poole (1882) 21 Ch.D. Cradock v. Piper (1850) 1 Mac. & G. 644. 477 De Ruvigne's case (1877) 5 Ch.D. 306. . 43 Chapman, re; Freeman v. Parker (1895) 397.............................. 49 Craig, re; Meneces v. Middleton [1971] Devonshire Silkstone Coal Co., re [1878] 72 L.T. 66 155, 156 Coco v. A. N. Clark (Engineers) [1969] Ch. 95 177, 181 W.N. 71 641 Charterbridge Corporation v. Lloyds R.P.C. 41 292, 298, 300, Craig v. Attorney-General [1926] N.I. Dey v. Goldfields Building Finance & -Bank [1970] Ch. 62 110 318, 322, 325, 326, 332, 336, 366, 376, 377, 217 632 Trust Corporation [1927) W.L.R. 180 Charteris, re; Charteris v. Biddulph 379, 381 -- v. National Trustees, Executors & (S.Af.) 659 [1917] 2 Ch. 379 77, 122, 131, 134 Coffin v. Cooper (1865) 2 Dr. & Sm. 365 67 Agency Co. [1920] V.L.R. 569 157 Diabolo Separator Co. v. Hungerford Charterland Goldfields, re ( 1909) 26 Cohen v. Cohen (1929) 42 C.L.R. 91 ... 217, Cranleigh Precision Engineering v. [1935] Q.W.N. 4 220 T.L.R. 132 636, 641 222 Bryant [1966] R.P.C. 81 .... 321, 335, 336, Diamond v. Oreamuno 248 N.E. (2d) Chattock v. Muller (1878) 8 Ch.D. 177 .. 544 -- v. Kuschke & Co. (1900) 83 L.T. 378, 381 910 (1969) (U.S.) 336 Chesterfield's (Earl) Trusts, re (1883) 24 102 475, 503 Craven Settled Estates, re [ 1926] Ch. 985. 72 Dickens, re; Dickens v. Hawksley [1935] Ch.D. 643 122 Coke's Trust, re (1852) 19 L.T.O.S. 243. 646 Crawshay, re; Hore-Ruthven v. Public Ch. 267 294 Chesterfield (Earl) v. Janssen (1750) 2 Coles v. Trecothick (1804) 9 Yes. 234 ... 390, Trustee (No. 2) [1947] Ch. 356 621 Dickinson's Trusts, re [1902] W.N. 104. 645 Yes. Sen. 125 173 395,430,445 Crosley v. The Derby Gas-light Co. Diplock, re; Diplock v. Wintle [1948] Chesterfield & Boythorpe Colliery Co. (1829) 1 W.P.C. 119; (1838) 3 My. & Ch. 465 271 v. Black (1878) 37 L.T. 740 526 References are to paragraph numbers Cr. 428 288 References are to paragraph numbers xviii TABLE OF CASES TABLE OF CASES xix Diplock v. Blackburn (1811) 3 Camp. 43. 211, Elliot v. Richardson (1870) L.R. 5 C.P. Flockton v. Bunning (1872) L.R. 8 Gibson & Stuart, re; re The St Albans 259 744.............................. 16 Ch.App. 323n 264,265,267,273 Bank (1850) 35 L.T.O.S. 95 229 Distillers Co. (Biochemicals) v. Times Ellis v. Barker (1871) L.R. 7 Ch.App. Foley v. Hill (1848) 2 H.L.C. 28 ... 184, 215, Gilbert v. Star Newspaper Co. (1894) Newspapers [1975] 1 All E.R. 41 ..... 361 104 81, 126 222, 229 11 T.L.R. 4 336 Ellis & Co. (Trustees) v. Watsham (1923) Docker v. Somes (1834) 2 My. & K. 655. 183, Forder, exp.; re Sparks [1881] W.N. 17. 402, Giles v. Nuttall; re The House Improve 155 L. T.Jo. 363 . . . . . . . . . . . . . . . . . . . 526 237, 239, 241, 243, 248, 262, 264, 270, 271 420,450 ment Association (1885) 78 LT.Jo. Emanuel, re; Myers v. Emanuel (1910) 273 Forte (Charles) Investments v. Amanda: 130 632, 639 27 W.N.(N.S.W.) 27 646 Dodge v. Ford Motor Co. 170 N.W. 668 [1964] Ch. 240 , . . . . . . . . . . 157 Gillett v. Peppercorne (1840) 3 Beav. 78. 518, Emmanuel, exp.; re Batey (1881) 17 (1919) (U.S.) 77, 141 Fouche v. · Superannuation Fund Board 520 Ch.D. 388 121 Domestic Services, re (1931) 31 S.R. (1951-52) 88 C.L.R. 609 502 Gisborne v. Gisborne (1877) 2 App.Cas. Englefield Colliery Co., re (1877) 8 Ch.D. (N.S.W.) 8 504 Fox v. Mackreth (1782) 2 Bro.CC. 400 .. 397 300 , 157 388.............................. 69 Dominion Coal Co. v. Maskinonge English v. Dedham Vale Properties, The Foxwell v. Van Grutten [1897] l Ch. 64 .. 628 Gladwin's Trusts, re [1919] l Ch. 232... 91 Steamship Co. [1922] 2 K.B. 132 ..... 280 Times, 21 April 1977. . . . . . . . . . . . . . . 577 Frampton, re [1943] Q.W.N. 29 448 Glennon v. Federal Commissioner of Doody, re; Fisher v. Doody [1893] I Ch. Erikson v. Carr (1946) 46 S.R.(N.S.W.) 9 514 Franchi v. Franchi [1967] R.P.C. 149. 333, 334 Taxation (1972) 127 C.L.R. 505 .. 430, 448 129 477, 479 Erlanger v. New Sombrero Phosphate Francis, re [1948] S.A.S.R. 287 . . . . . . . . 157 Gluckstein v. Barnes [1900] A.C. 240 ... 527 -- Barrett v. Fisher (1905) 74 L.J. Ch. Gooch's case (1871) L.R. 7 Ch.App. 207. 636 Dougan v. MacPherson [1902] A.C. 197. 390, Co. (1873) 3 App.Cas. 1218 .. 515, 519, 520 395,427,432, 437 Erskine, Oxenford & Co. v. Sachs [1901] 198 475, 484 Goode, re; Exp. Mount (1974) 4 A.LR. Franks (Richard Brady) v. Price (1937) 579 223, 225 Douglas, re (1928) 29 S.R.(N.S.W.) 48 .. 448 2 K.B. 504 .402, 422 -- v. Archbutt (1858) 2 DeG. & J. 148. 477, Esme Pty. Ltd .. JI. Parker [1972] W.A.R. Fra5s8e rC .vL. .ERv. an11s 2[ 1969] 1 Q.B. 8384, 91 0..6 , 310112,, 315586, GGoopoadlya v.C Bheatrtiyn g v.[ 19V5i6ja] y2a rAagllh Eav. Rac.h 1a1r i.a r. . 580 482 52 321 360, 368, 370 [1922] A.C. 488 203 Dover Coalfield Extension, re [ 1908] 1 European Assurance Society Arbitration, -- v. Murdoch (1881) 6 App.Cas. 855. 44 Gordon v. Australian & New Zealand Ch. 65 485 The; Manistry's case ( 1873) 17 Sol.Jo. - v. Whalley (1864) 2 H. & M. 10.150, 152 Theatres (1940) 40 S.R.(N.S.W.) 512... 88 Dovey v. Cory [1901] A.C. 477 . . . . . . . . 40 745 146 Dowling v. Lord Advocate [1963] S.L.T. European Central Railway Co., re; Friend v. Young [1897] 2 Ch. 421 224 - v. Gonda [1955] l W.L.R. 885 .... 202, Friend's Trust re (1904) 21 W.N.(N.SW.) 252, 254 146 409, 454 Syke's case (1872) L.R. 13 Eq. 255 ... 102 166 646 Gothenburg Commercial Co., re (1881) Downes v. Graze brook ( 1817) Mer. 200. 398, Evans v. Donaldson (1909) 9 C.L.R. 140. 42 Fripp v. Chard Railway Co. (1853) 11 44 L.T. 166 223, 225 461 Evered, re; Molineux v. Evered [1910] Hare 241 528, 630, 633 Gould v. O'Carroll (1963) 81 W.N. Dowse v. Marks (1913) 13 S.R.(N.S.W.) 2 Ch. 147 67, 71 Fuller v. Duncan (1891) 7 T.L.R. 305 .. 546 (Pt. 1) N.S.W.) 170 .... .405, 424, 426, 443 332.............................. 45 Everingham v. Everingham (1911) 12 Fullwood v. Hurley [1928] 1 K.B. 498 .. 580, Gramophone & Typewriter v. Stanley Driscoll v. Bromley ( 1837) 1 Jur. 238. . . 526 S.R. (N.S.W.) 5 452 583, 592 [1908] 2 K.B. 89................... 45 Drucker, re; ex p. Basden [1902] 2 K.B. Evitt v. Price (1827) 1 Sim. 483 . 309, 344, 350 Furs Ltd v. Tomkies (1936) 54 C.L.R. 583 527 Grant v. Gold Exploration & Develop 237 234 Exchange Banking Co., re; Ramwell's Fysh v. Page (1956) 96 C.L.R. 233 ..... 416 ment Syndicate [1900] 1 Q.B. 233 .... 502, Duffy v. Super Centre Development case (1881) 50 L.J.Ch. 827 119 503, 506, 515. 585 Corporation [1967] 1 N.S.W.R. 382 ... 123, Eyre, re; Eyre v. Eyre (1883) 49 L.T. 259. 71 Gadd, re; Eastwood v. Clark (1883) 23 Gray v. New Augarita Porcupine Mines 156 Ezekiel's Settlement Trusts, re; National Ch.D. 134 45, 650 [1952] 3 D.L.R. l. 526, 527 Dundee General Hospitals Board of Provincial Bank v. Hyam [1942] Ch. Gainsborough v. Watcombe Terra Cotta Great Cobar, re; Beeson v. The Company Management v. Walker [1952] 1 All 230.............................. 47 Clay Co. (1885) 54 L.J. Ch. 991.. . . . . 78 [1915] l Ch. 682 32, 127 E.R. 896 157 Gallard, re; exp. Gallard [1887] 2 Q.B. 8. 409, Great Eastern Electric Co., re [1941] Dunne v. English (1874) L.R. 18 Eq. 524. 392( Fada (Australia), re; exp. Brown [1927] 446,454 Ch. 241 88, 156 395, 428 S.A.S.R. 590 221, 235, 237 Galloway v. Halle Concerts Society Great Western Insurance Co. v. Cunliffe Dunstan JI. Houison (1901) l S.R. Farnell v. Cox (1898) 19 N.S.W.R. (Eq.) [1915] 2 Ch. 233 118, 136, 145 (1874) L.R. 9 Ch.App. 525 491 (N.S.W.)(Eq.) 212 51, 58, 66 142 283 Game (George), re (1884) 1 Morr. 224 .. 654, Greaves, re; Public Trustee v. Ash [1954] Du Pont (E.l.) De Nemours Powder Co. Farrarv. Farrars Ltd (1888) 40 Ch.D. 395 17, 655 Ch. 434 62~623 v. Masland 244 U.S. 100 (U.S.) 296 398, 451, 461 Garland v. Garland (1793) 2 Yes. 137 .. 632 Green v. Folgham (1823) l S. & St. 398. 290, Dyson v. Lum (1866) 4 L.T. 588 402, 420 Featherstonhaugh v. Fenwick (1810) 17 Gartside v. Outram (1857) 26 L.J.Ch. 295, 384 Yes. 298 606 113 293, 359 Green & Son v. Tugham & Co. (1913) 30 Eales v. Cumberland Black Lead Mine -- v. Turner (1858) 25 Beav. 382 269 Garvey v. Garvey 22 N.E. 889 (1889) T.L.R. 64 321, 491 Co. (1861) 6 H. & N. 481 659 Federal Bank of Australia, re (1894) 20 (U.S.) .. . . . .. .. .. .. .. .. .. .. .. . . .. 77 Greenhalgh v. Arderne Cinemas [1951] Easton v. Hitchcock [1912] I K.B. 535 .. 298, V.L.R. 199 : 636 Gaskill v. Gosling [1896] 1 Q.B. 669; Ch. 286 139 347 Federal Commissioner of Taxation v. [1897] A.C. 575 . . . . . . . . . . . . . . . . . . . 24 Greenlaw v. King (1840) 9 L.J.Ch. 377; Eden v. Ridsdales Railway Lamp & United Aircraft Corporation (1943) Gates, re; Arnold v. Gates [1933] Ch. (1841) 10 L.J.Ch. 129 394, 409, 415 Lighting Co. (1889) 23 Q.B.D. 368 ... 494, 68 C.L.R. 525 293 913 477, 481 Greenwell v. Porter [1902] l Ch. 530 .. 16, 61, 504, 506, 512 Ferguson's case (1897) 23 V.L.R. 78 229 Gee, re; Wood v. Staples [1948] Ch. 284. 486 65 Edgar v. Muscovitch (1914) 36 A.L.T. Ferguson, re; ex p. E. N. Thorne & Co. Gee v. Pritchard (1818) 2 Swans. 402 294 Greenwood, re; Greenwood v. Firth 162 629 (1969) 14 F.L.R. 311 170 Gertzenstein, re [1937] Ch. 115 477 (1911) 105 L.T. 509 75, 78 Edinburgh (Lord Provost) v. Lord Ad- Fine Industrial Commodities v. Powling Gestetner Settlement, re; Barnett v. Greenwood v. Harvey (1965) 66 S.R. vocate (1879) 4 App.Cas. 823 .... 272, 273 (1945) 71 R.P.C. 253 575 Blumka [1953] Ch. 672 74, 77 (N.S.W.) 496 .441, 447, 592 Edwards v. Glyn (1859) 2 El. & El. 29 .. 235 Flint, re; Coppock v. Vaughan [ 1885] Gibbs v. David (1875) L.R. 20 Eq. 373 .. 628 Gresham Life Assurance Society, re; -- v. Meyrick (1842) 2 Hare 60 .. .406, 407 W.N. 163 312 Gibert v. Gonard (1885) 52 L.T. 54 .... 234 exp. Penny (1872) L.R. 8 Ch.App. 446. 89 Eider's Trustee & Executor Co. v. Higgins Gibson v. Jeyes (1801) 6 Yes. 266 .. 400, 439, 1962-63) 113 C.L.R. 426 75,88 References are to paragraph numbers 533 References are to paragraph numbers xx TABLE OF CASES TABLE OF CASES xxi Griffith v. Owen [1907] 1 Ch. 195 610 Hawkins (F.T.) & Co., re [1952] Ch. 881. 479 Hodson's Settlement, re (1851) 9 Hare Industrial Development Consultants v. Grimes v. Harrison (1859) 26 Beav. 435. 50 Hay's case; re Canadian Oil Works 118 644 Cooley [1973] 1 W.L.R. 433 556, 568 Groom v. Crocker [1939] 1 K.B. 194 588 Corporation (1875) L.R. 10 Ch. App. Hodson v. Deans [1903] 2 Ch. 647 461 Industrial Furnaces v. Reeves [1970] Grover v. Hugell (1827) 3 Russ. 428 420 593 511 Hoffman v. Duncan (1853) 18 Jur. 69 .. 633 R.P.C. 605 . . . . . . . . . . . . . . . . . . . . . . . 382 Grylls, exp. (1832) 2 Deac. & Ch. 290. . . 445 Hayes, re; ex p. The Official Assignee Hogg v. Cramphorn [1967] Ch. 254 .150, 152 Industries & General Mortgage Co. v. Guazzini v. Pateson (1918) 18 S.R. (1898) 19 N.S.W.R. (B. & P.) 37 ..... 120 Holder v. Holder [1968] Ch. 353 ... 402, 425, Lewis [1949] 2 All E.R. 573 .. 496, 506, 515 (N.S.W.) 275 44, 485 Hayes' Will Trusts, re; Pattinson v. Hayes 426,430,437,440 Initial Services v. Putterill [1968] 1 Q.B. Guest v. Cochlin [1929] 3 D.L.R. 790 193 [1971] 1 W.L.R. 758 121 Holman v. Loynes (1854) 4 DeG. M. & 396 359 - v. Smythe (1870) L.R. 5 Ch.App. Haygrath v. Wearing (1871) L.R. 12 Eq. G.270 40~432 Interfirm Comparison (Australia) v. Law 551 412, 424, 517 320 416 Holmes (John), re; re Electric Power Co. Society of New South Wales (1975) 5 Gulbenkian's Settlement, re; Whishaw Haywood v. Roadknight [1927] V.L.R. (1877) 25 W.R. 603 312 A.L.R. 527; (1975) 6 A.LR. 445. 298, 327, v. Stephens [1970] A.C. 508 74, 625 512 392, 395, 402, 406, 428, Hopper v. Conyers (1866) L.R. 2 Eq. 549. 272, 333, 336, 387 Guy v. Churchill (1890) 62 L.T. 132 420 441,446, 583 275 Irish, re; Irish v. Irish (1888) 40 Ch.D. 49. 321, Headway Construction Co. v. Downham Hordern v. Bull (1905) 5 S.R.(N.S.W.) 612, 618 Hall, re (1957) 20 A.B.C. 21 156 (1974) 233 E.G. 675 524 518 , 453 Iron Ship Coating Co. v. Blunt (1868) Hallett's Estate, re; Knatchbull v. Hallett Hearn v. Central Broken Hill Silver -- v. Hordern [1910] A.C. 465 423 L.R. 3 C.P. 484 659 (1879) 13 Ch.D. 696 194, 195, 272, Mining Co. (1895) 16 N.S.W.R. (Eq.) Horsnaill, re; Wolmersley v. Horsnaill Irvine v. Union Bank of Australia (1877) 273, 278 87............................... 53 [1909] 1 Ch. 631 132, 134 2 App.Cas. 366 . . . . . . . . . . . . . . . . . . . 81 Hamilton v. Wright (1842) 9 Cl. & F. 111 596 Heath v. Parkinson (1927) 136 L.T. 128. 437, Househill Co. v. Neilson (1843) 1 W.P.C. Hamilton-Snowball's Conveyance, re 441,447 697 288 James, exp. (1803) 8 Ves. 337. 390, 400, 403, [1959] Ch. 308 192, 280 Heathcote v. Hulme (1819) 1 Jae. & W. Hovenden & Sons v. Millhoff (1900) 83 407,411,413,419,441 Hampden v. Earl of Buckinghamshire 122 258, 252 L.T. 41 .495, 496, 506, 515 James, re; Bagot's Executor & Trustee [1893] 2 Ch. 531 ... 77, 86, 91, 133, 134, 135 Heighington v. Grant (1840) 5 My. & Cr How v. Carman [1931] S.A.S.R. 413 .. 580, 588 Co. v. McGregor [1949] S.A.S.R. 143. 395, Hancock v. Heaton (1874) 30 L.T. 592 .. 545, 258 477 Howe v. Lord Dartmouth (1802) 7 Ves. 412 558 Heine Bros (Australia) v. Forrest [1963] 137 122 James v. Eve (1873) L.R. 6 H.L. 335 .... 114 - v. Smith (1889) 41 Ch.D. 456 ..... 228 V.R. 383 338 Howell v. Bennett & Fisher [1966] Jarvis, re; Edge v. Jarvis [1958] 1 W.L.R. Hankey v. Garratt (1792) 1 Ves. 236 . . . 252 Helmore v. Smith (No. 1) (1886) 35 Ch.D. S.A.S.R. 188 580 815 269, 275, 276 Harman's King (Browning) Gold Mining 436 236 Hubbard v. Vosper [1972] 2 Q.B. 84. 358, 360 Jeffreys v. Boosey (1854) 4 H.L.C. 815 .. 294 Co., re (1898) 14 T.L.R. 314 . . . . . . . . 88 Henry v. Great Northern Railway Co. Hughes exp. (1802) 6 Ves. 617 414 -- v. Dickson (1866) L.R. 1 Ch.App. Hardman v. Johnson (1815) 3 Mer. 347. 610 (1857) 1 DeG. & J. 606 122, 144, 145 Huguenin v. Baseley (1807) 14 Ves. 273. 180, 183.............................. 24 Hardwicke (Lord) v. Vernon (1799)4 Ves. -- v. Hammond [1913] 2 K.B. 515 ... 218, 182 Jenkins v. Parry (1866) 14 L.T. 503 .... 599 411 402 219, 224 Huish's Charity, re (1870) L.R. IO Eq. 5. 644 Jenner & Keighran's Contract, re [1925] Hare, re; Leycester-Penrhyn v. Leycester- Henry (Keith) & Co. v. Walker (Stuart) Hulton, re; ex p. Manchester & County V.L.R. 283 . . . . . . . . . . . . . . . . . . . . . . . 78 Penrhyn (1908) 43 L.Jo. 659 91, 104 & Co. (1958) 100 C.L.R. 342 ..... 468, 602 Bank (1891) 8 Morr. 68 288 Jennings v. Zilahi-Kiss (1972) 2 S.A.S.R. Harford v. Purrier (1816) 1 Madd. 532 . 192 Hessev. Briant(1856)6DeG. M. &G. 623 446 Humphreys & Walter, re (1931) 3 A.B.C. 493 580 Harlowe's Nominees v. Woodside (Lake's Hesse (Princess Anne) v. Field [1963] 254 653 Jensen v. 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Maynard [1952) Ch. 572 117 Hastings-Bass (Deceased), re; Hastings 349 407, 412 Imperial Mercantile Credit Association - v. Mueller [1911) Q.W.N. 44 592 Bass v. Inland Revenue Commissioners Hobkirk v. Ritchie (1933) 29 Tas.S.R. 14. 643, v. Coleman L.R. 6 H.L. 189 ..... 479, 527 Jordy v. Vanderpump (1920) 64 Sol.Jo. [1975] Ch. 25 . . . . . . . . . . . . . . . . . . . . . 83 647 Inche Noriah v. Shaik Allie Bin Omar 324 488, 491 Hatch v. Hatch (1804) 9 Ves. 292 176 References are to paragraph numbers [1929] A.C. 127 180, 181 References are to paragraph numbers

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