Private Law Theory

INTRODUCTION
Whilst, relative to its fabled heyday in the nineteenth century, the Chancery Division may not be dealing with the same number of trust and estate cases, it and other divisions of the High Court are actively applying equitable principles and remedies in substantial commercial disputes, usually with an international dimension. Commonly claims are based on a fiduciary relationship between the parties; the claimant contends the defendant breached the profit rule and conflict rule1; commonly the case concerns an opportunity belonging to the claimant, where the defendant’s position is analogous to that of the trustee in Keech v Sandford. There the trustee was negotiating the renewal of a lease. Lord King said, ‘I very well see, if a trustee, on the refusal to renew [a lease], might have a lease to himself, few trust-estates would be renewed to cestuis que use …

€ (OUP)

Toby Graham and David Russell, Account of profits, Trusts & Trustees, Volume 29, Issue 5, June 2023, Pages 367–388. Published: 28 June 2023.