A man effected an insurance policy which contained a term that it should not be assignable in any case whatever. He had previously covenanted with trustees to settle after-acquired property.
Held: The court will seek to protect the interests of those who are contractually entitled to have the benefit of an inalienable asset even before the fruits of the asset have been realised. Although he could not assign the benefit of the policy so as to give the trustees the power to recover the money from the insurance company, he could validly make a declaration of trust of the proceeds, which required him to hand over such proceeds to the trustees.
Citations:
(1888) 40 ChD 5
Jurisdiction:
England and Wales
Cited by:
Cited – Barbados Trust Company Ltd v Bank of Zambia and Another CA 27-Feb-2007
The creditor had assigned the debt, but without first giving the debtor defendant the necessary notice. A challenge was made to the ability of the assignee to bring the action, saying that the deed of trust appointed to circumvent the reluctance of . .
Lists of cited by and citing cases may be incomplete.
Equity
Updated: 20 August 2022; Ref: scu.249316
