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Abstract
This paper examines the impact of equitable principles on the sphere of commercial law. It will make particular reference to the effect of the incursion of equity on ordinary creditors with regard to obtaining priorities in cases of insolvency. It will analyze the Quistclose trust and show how this type of trust may be used to obtain an advantage by those who would otherwise be ordinary creditors. It will refer to the use of equitable tracing to recover assets in a money-laundering scheme The paper will suggest that judicial acceptance of the concept of the remedial constructive trusts has enhanced the development of proprietary restitutionary remedies in commercial transactions where no proprietary remedy would have previously existed.
Type
Journal Article
Type of thesis
Series
Citation
Tappenden, S. (2009). Commercial equity: The Quistclose trust and asset recovery. Journal of Politics and Law, 2(3), 11-19.
Date
2009
Publisher
Canadian Center of Science and Education
Degree
Supervisors
Rights
This article has been published in the Journal of Politics and Law. Used with permission.