Fowkes v Pascoe
1875 · (1875) LR 10 Ch App 343
Posted By lanbuk.com
- Facts
- Mrs Baker bought stock in the joint names of herself and Pascoe, the son of her daughter-in-law, while holding other stock in her own name.
- Issue
- Was there a ?
- Held
- No. The Court of Appeal held the evidence showed she intended a gift.
- Principle
- The presumption of resulting trust is rebutted by evidence of an intended gift.
- Why it matters
- It shows how the presumption is rebutted.
Words and Latin in this note
- Resulting trust
- A trust under which the beneficial interest goes back to the person who provided the property, because he is presumed not to have meant a gift, or because an express trust did not use up the whole interest. Open the note.
- Trust
- An arrangement in which a trustee holds property at law but must use it for beneficiaries, or for a charitable purpose. The beneficiaries have the equitable interest. Open the note.
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