Literature Quiz / Equity Law - Tracing

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Can you name the Equity Law cases for Tracing & Strangers' Liability?

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TopicCase
When tracing in a proprietary claim, you can acquire any increase in the substitute's value
A beneficiary is allowed to claim substitute assets, keep increases in value, & trace into a mixed fund
Common law tracing can work for simple transactions that have remained unmixed and retain their value & identity
Common law tracing cannot penetrate mixed funds
The limitations of common law tracing nominally lead to personal claims only
'Equity had the courage to lift the latch, walk in & examine the books’
Equity can trace through a mixed fund
Prerequisites - 1. Equitable Proprietary Interest & 2. Fiduciary relationship with the defendant
Limitations - 1. Dissipation; 2. Equity's Darling; 3. Inequitable
'Tracing isn't about what's fair, it's about hard-nosed property rights'
Remedies - Charge or Lien secured on the property - if unchanged, take it straight back
Remedies - % Share
Remedies - Subrogation (Resurrect a secured debt/loan)
Presumption of Honesty - suggests Ts money leaves the account first when funds are mixed
Presumption is displaced/rebutted when later funds are dissipated to protect the beneficiary's interest
It has been suggested that a wronged beneficiary can cherry pick the more fruitful claim
If there is enough cash left to satisfy B's claim, cherry picking should be prohibited - Policy: protect other creditors
T is presumed to pay in his own money
TopicCase
This is rebuttable if T manifests a clear intention to repay B
Beneficiaries share rateably when their funds are mixed
Except for current accounts, where tracing follows FIFO
This should be departed from when contrary to intentions; impractical; or leads to injustice (invariably)
You can trace into the property of innocent volunteers and target any value added by improvements - you cannot force sale if inequitable
'Re Diplock Personal Claims' only apply to transactions left under a will & not to trusts (No Defence)
'Trustee De Son Tort' may also be made personally liable
Strangers' Liability - Disposal; Beneficiary Receipt; & Knowledge of a Breach
Knowledge can be broken down into 5 categories
But these categories have been criticised for merging imperceptibly into one another
A recipient is not required to be unduly suspicious
Unless & until they are alerted to the possibility of wrong doing, they are entitled to proceed on the assumption that they are dealing with honest men
Recipient Liability may hinge on unconscionability
Recipient Liability is moving towards Strict Liability subject to a change in position
Accessory Liability hinges on Dishonesty - An Objective test with subjective elements
But the HL imposed a criminal standard on this test - Did the Def. know what he was doing was wrong?
However, the Privy Council has indicated, the Test is as it was - Objective, with Subjective elements

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