Equity & Trusts 70517Topic 1 - History and Nature of Equity Topic 2 - Unconscionable Dealing and Undue InfluenceTopic 3 - Introduction to Estoppel/ Proprietary EstoppelTopic 4 - Promissory EstoppelTopic 5 - Equitable Interests in PropertyTopic 6 - Assignment I (Methodology/ Future Property)Topic 7 - Assignment II (Failed Assignment of Legal Property at Law)Topic 8 - Assignment III (Equitable Assignment of Equitable Property)Topic 9 - Fiduciary ObligationsTopic 10 -Accessory LiabilityTopic 11 -Tracing/ Account of ProfitsTopic 12 -Equitable CompensationTopic 13 -Constructive TrustsTopic 14 -Resulting TrustsTopic 15 -Express TrustsTopic 16 -Duties, Powers, Rights and Liabilities of Trustees; Rights of Beneficiaries
Topic 10 – Accessorial LiabilityEquity & Trusts 70517ACCESSORIAL LIABILITY LECTURE SUMMARY: A.Introduction to Third Party Liability and Barnes v AddyB.Knowing Receipt C.Knowing AssistanceD.Remedies
Topic 10 – Accessorial LiabilityEquity & Trusts 70517ACCESSORIAL LIABILITY LECTURE SUMMARY A.Introduction to Third Party Liability and Barnes v AddyB.Knowing Receipt C.Knowing AssistanceD.Remedies
Topic 10 – Accessorial LiabilityEquity & Trusts 70517A: Introduction•Where a third party is involved in a breach of fiduciary duty, the party to whom the fiduciary duty was owed may have a cause of action directly against the third party. This action arises in equity independently of, and in addition to, any action available against the trustee/ fiduciary.•Equity may, in certain circumstances, hold such a third party who has been involved in a breach of trust or fiduciary duty liable as a “constructive trustee” to the plaintiff.
Topic 10 – Accessorial LiabilityEquity & Trusts 70517Introduction contdIn Paragon Finance plc v DB Thakerar & Co  1 All ER 400 at 408-9, referred to by Evans at 752, Millet LJ noted that:“Such a person is not in fact a trustee at all, even though he may be liable to account as if he were. He never assumes the position of a trustee, and if he receives the trust property at all it is adversely to the plaintiff by an unlawful transaction which is impugned by the plaintiff.