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Pallant v Morgan

"Pallant v Morgan" constructive trust

Kilcarne Holdings Ltd v Targetfollow (Birmingham) Ltd
[2005] EWCA Civ 1355.

In dismissing an appeal on the facts the CA (citing the first instance judge) succinctly explained the principle of the Pallant v Morgan constructive trust:
    "Essentially the principle is that (i) if A and B agree that A will acquire some specific property for the joint benefit of A and B and (ii) B, in reliance on A's agreement, refrains from attempting to acquire the property, then equity will not permit A, when he acquires the property, to keep it for his own benefit, to the exclusion of B." (Para 20)

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