R v Yule
1964 · 1 QB 5
Posted By lanbuk.com
- Facts
- A client paid Yule, a solicitor, a sum to cover costs, including fees due to counsel and to shorthand writers. The money was paid into Yule's own account and was not applied as it should have been. He was of fraudulent .
- Issue
- Had he been entrusted with the money in a sense?
- Held
- The conviction under the fraudulent-conversion provision was upheld. The money had been received for a particular purpose and had been converted.
- Principle
- Fraudulent conversion covers a person who receives ownership or possession of property for a limited purpose and then applies it dishonestly.
- Why it matters
- It is distinct from larceny, where the taker never receives ownership, and from embezzlement, which is the servant who intercepts the master's money.
Words and Latin in this note
- Fiduciary
- A person, such as a trustee, director or agent, who must act loyally for another. He must not profit from his position or put himself in a conflict of interest. Open the note.
For study only. By lanbuk.com. Always check current sources and consult a qualified professional.