Keech v Sandford
1726 · (1726) Sel Cas Ch 61
Posted By lanbuk.com
- Facts
- A trustee held a lease of a market for a child. The landlord would not renew it for the child, so the trustee took the renewal for himself.
- Issue
- Could the trustee keep the new lease?
- Held
- No. Lord King LC held that he held it on for the child.
- Principle
- A trustee must not profit from his position, even where the could not have taken the benefit.
- Why it matters
- It shows the strictness of the rule.
Words and Latin in this note
- Beneficiary
- A person entitled to the benefit of trust property in equity, who can make the trustees carry out the trust. Open the 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.
- 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.
For study only. By lanbuk.com. Always check current sources and consult a qualified professional.