PC (New Zealand) The parties’ relationship failed. They had bought a house together and entered into a trust deed.
Held: ‘Defeasible interests in land are certainly conceptually possible. In England such interests may, for example, be created under the School Sites Acts. And, subject always to the rule against perpetuities, private trusts may create beneficial interests subject to defeasance on the occurrence, or non-occurrence, of specified events. But defeasance conditions in private trusts are invariably express conditions.’ In this case the claimant sought an implied condition. The breakdown of the relationship was no reason to vary the express trusts created.
Judges:
Lord Hoffmann, Lord Hope of Craighead, Lord Scott of Foscote, Lord Walker of Gestingthorpe, Baroness Hale of Richmond
Citations:
[2004] UKPC 41
Links:
Jurisdiction:
England and Wales
Citing:
Cited – Barclays Bank Ltd v Quistclose Investments Ltd; etc HL 31-Oct-1968
R Ltd were in serious financial difficulties. The company’s overdraft with the appellant bank was almost twice its permitted limit. The company sought a loan of 1 million pounds from a financier, who was willing to lend the company that sum provided . .
Lists of cited by and citing cases may be incomplete.
Equity
Updated: 11 June 2022; Ref: scu.200080
