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Law Cases
Trusts and Equity Cases
Constructive trusts, unjust enrichment, tracing 2010 Cases

Taylor v Plumer [1815] 3 M & S 562

Country:
United Kingdom
By Oxbridge Law Team
Lord Ellenborough CJ

  • Defendant gave his stockbroker a banker’s draft to invest in exchequer bills.

  • The stockbroker only invested part of it and spent the rest on securities and bullion before attempting to flee the country.

  • Defendant intercepted him and claimed a proprietary right (as the broker was in a fiduciary position) over the bullion and securities.

  • HL held that Defendant could trace the property into the broker’s hands. 

Lord Ellenborough CJ

  • Tracing was possible because the product of the draft was always identifiable. Thus Defendant had priority over general creditors.

  • Only when the produce was turned into money an mixed with other money was tracing impossible. The claim is proprietary

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