Abstract:
An analysis of the jurisprudential nature of the Quistclose trust reveals that it is a species of resulting trust. The cases support a unified theory of resulting trust, which arises whenever the transferor has no intention to benefit the recipient. However, this unified theory poses the question of whether the resulting trust arises in response to unjust enrichment or is merely a vindication of a pre-existing property interest. The main thrust of this article is that, despite the unified theory, the resulting trust cannot and should not be rationalised as a response to unjust enrichment for both logical-legal and practical reasons. The resulting trust should be rationalised as a set of institutional equitable rules, which by custom have been regarded to have proprietary effects, and is at root a vindicatio claim.
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Zhuang, WenXiong, The Quistclose resulting trust as a proprietary response to unjust enrichment: A bridge too far?. Singapore Academy of Law Journal, Volume 26, No 2, Sept 2014: 649-686.
First posted 2014-10-19 09:31:42
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