Week 5 - Lecture 10 - Equity and Trusts - Equity Trusts 70517 Topic 10 Accessorial Liability Equity Trusts 70517 Topic 1 History and Nature of Equity

Week 5 - Lecture 10 - Equity and Trusts - Equity Trusts...

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Equity & Trusts 70517 Topic 10: Accessorial Liability
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Equity & Trusts 70517 Topic 1 - History and Nature of Equity Topic 2 - Unconscionable Dealing and Undue Influence Topic 3 - Introduction to Estoppel/ Proprietary Estoppel Topic 4 - Promissory Estoppel Topic 5 - Equitable Interests in Property Topic 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 Obligations Topic 10 - Accessory Liability Topic 11 - Tracing/ Account of Profits Topic 12 - Equitable Compensation Topic 13 - Constructive Trusts Topic 14 - Resulting Trusts Topic 15 - Express Trusts Topic 16 - Duties, Powers, Rights and Liabilities of Trustees; Rights of Beneficiaries
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Topic 10 – Accessorial Liability Equity & Trusts 70517 ACCESSORIAL LIABILITY LECTURE SUMMARY: A. Introduction to Third Party Liability and Barnes v Addy B. Knowing Receipt C. Knowing Assistance D. Remedies
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Topic 10 – Accessorial Liability Equity & Trusts 70517 ACCESSORIAL LIABILITY LECTURE SUMMARY A. Introduction to Third Party Liability and Barnes v Addy B. Knowing Receipt C. Knowing Assistance D. Remedies
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Topic 10 – Accessorial Liability Equity & Trusts 70517 A: 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.
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Topic 10 – Accessorial Liability Equity & Trusts 70517 Introduction contd In Paragon Finance plc v DB Thakerar & Co [1999] 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.
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