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United Kingdom Leading Case resulting trusts

Twinsectra Ltd v Yardley

[2002] UKHL 12
JurisdictionUnited Kingdom
CourtUK House of Lords
Year2002
StatusBinding authority

Summary

A Quistclose trust arises where money is lent for a specific purpose; the lender retains beneficial interest, and on failure of purpose the money is held on resulting trust for the lender.

Key Principle

A Quistclose trust arises where money is lent for a specific purpose; the lender retains a beneficial interest in the money, and if the purpose fails, the money is held on resulting trust for the lender.

Area of Law

trusts

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