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110 IMPLIED TRUSTS. entitled to the renewed lease on paying B. his charges. Rushworth's Case (1676), 2 Free. 13. 3. A. bequeaths a lease of a market to B. in trust for an infant. B. before the expiration of the term applies to the lessor for a renewal for the benefit of the infant. The lessor declines to grant such renewal, whereupon B. gets a lease made to himself. B. is a trustee for the infant. Keech v. Sand ford (1726), Sel. Oh. Ca. 61. 4. A. and B. agree to buy property which is subject to incumbrances. Some of the incumbrancers make abatements of interest and give other advantages to A. for his own benefit. He must account for these to B. Carter v. Home (1728), 1 Eq. Ca. Abr. 7. 5. Leasehold property is settled upon trust for A. for life, and after A.'s death for B. absolutely. A. obtains an extension of the lease. She is a trustee of the extended lease for B. and cannot devise it by her will. Taster v. Marriott (1768), Amb. 668. To the same effect are Raice v. Chichester (1773), Amb. 715; Pickering v. Vowles (1783), 1 Bro. Oh. 197; Coppin v. Fernyhough (1787), 2 Bro. Oh. 291; James v. Dean (1808), 15 Ves. 236; Eyre v. Dolphin (1813) 2 Ball & B. 290 ; Ron-ley v. Ginnever, (1897)'2 Ch. 503. 6. Leasehold property is settled on A. for life, with remainders over. A. applies for a renewal. X. pays her 3,000/. to withdraw her application. A. is a trustee of this sum for the remaindermen. Owen v. Williams (1773), Amb. 734. 7. Leasehold property devolves on A. (an adult) and B. (an infant) jointly. A. obtains a renewal in his own name. He is a trustee for B. Ex parte Grace (1799), 1 Bos. & Pull. 376, explained in In re Biss, (1903) 2 Ch. 40. 8. A. by will gives leasehold property to his two infant children. B. by threats persuades the executors to assign the lease to him, and then obtains a renewal. B. is a trustee for the infants. Mukaney v. DiUon, (1810) 1 Ball & B. 409. 9. A., B. and C. are partners. B. and C., without notice to A., obtain a renewal to themselves of the lease of the partnership premises and then dissolve partnership. B. and C. are trustees of the renewed lease for A. in proportion to his share. Featherstonhaugh v. Fenwick (1810), 17 Ves. 298. Cf. Clegg v. Edmondson
CONSTRUCTIVE TRUSTS. Ill (1857), 8 De Gr. M. & Q-. 787, where the action was successfully defended on the ground of laches. 10. A., acting on behalf of himself and his partners B. and 0., negotiates with X. for a lease to be granted to the firm. X., without the knowledge of B. and 0., pays A. a sum of 12,000/. in consideration of his procuring the firm to take the lease. A. is a trustee of this sum for the firm. Faiccett v. Whitehouse (1829), 1 Euss. & My. 132. Hichens v. Congreve (1828), ibid. 150, is to the same effect. See also Bentley v. Craven (1853), 18 Beav. 75. 11. A., being director of a railway company, receives 5,000/. to pay for the purchase of a concession of which he is the concealed owner. A. is a trustee of the 5,000/. for the company on having the concession restored to him. Great Luxembourg Ry. Co. v. Magnay (1858), 25 Beav. 586. 12. The facts are as in Taster v. Marriott, supra (5), except that A. assigns to B., who obtains the renewal. B. is a trustee for the remaindermen. In re Lord Hanelagh's Will (1884), 26 Ch. D. 590. The trustee is, however, entitled, on accounting for the advantage gained by him, to repayment of any costs and expenses properly incurred by him in obtaining such advantage, together with interest thereon and the value of any permanent improvements made to it by him, and to an indemnity against any liabilities properly contracted in respect thereof. " He that seeks equity must do equity." " If," as Kekewich, J., has put it (1897, 2 Ch. at p. 507), " you insist upon a man performing his duties as trustee and making over property as trustee, you must treat him as a trustee throughout, and you cannot expect him to perform his duties without at the same time exonerating him from expenditure incurred which benefits the property of which he is trustee." (See Holt v. Holt (1671), 1 Ch. Ca. 190 ; Keech v. Sandford (1726), Sel. Ca. Ch. 61; Rawe v. Chichester (1773), Amb. 715; Eyre v. Dolphin (1813), 2 Ball & B. 290; Ex parte Grace (1799), 1 Bos. & Pull. 376; Giddings v. CHddings (1826), 3 Euss. 241; In re Lord Ranelagh's Will (1884), 26 Ch. D. 590; Roivley v. Ginnever, (1897) 2 Ch. 503.) The trustee is also entitled to a lien or charge for such expenses, &c. on the trust property. (Roicley v. Ginnever, supra.)
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UNIVERSITY OF LONDON INSTITUTE OF A
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A THESIS UPON THE DEFINITION, CLASS
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TABLE OF CONTENTS. PAOK INTRODUCTOR
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INTRODUCTORY. THE term "trust" has
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Part L—TBUSTS IN GENEBAL. CHAPTEE
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DEFINITION OF A TRUST. 3 active or
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DEFINITION OF A TEUST. 5 owner. Thi
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DEFINITION OF A TEUST. 7 Mr. Justic
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DEFINITION OF A TRUST. 9 courts the
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DEFINITION OF A TRUST. 11 since the
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CLASSIFICATION OF TRUSTS. 13 constr
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CAPACITY OF PARTIES. 15 CHAPTEE III
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CAPACITY OF PARTIES. 17 The sanctio
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CAPACITY OF PARTIES. 19 party to it
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CAPACITY OF PARTIES. 21 Lunacy also
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THE TRUST PROPERTY. 23 CHAPTER IV.
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THE TRUST PROPERTY. 25 expectancy o
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CREATION OF EXPRESS TRUSTS OF LAND.
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CREATION OF OTHER EXPRESS TRUSTS. 2
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RULES DETERMINING INTENTION TO CREA
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ENFORCEABILITY OF EXPRESS TRUSTS. 5
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ENFOECEABILITY OF EXPRESS TRUSTS. 5
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ENFORCEABILITY OF EXPRESS TRUSTS. 5
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Page 73 and 74: DISCLAIMER OF EXPRESS TRUST, 61 CHA
Page 75 and 76: DISCLAIMER OF EXPRESS TRUST. 63 hav
Page 77 and 78: CONSTRUCTION OF EXPRESS TRUSTS. 65
Page 83 and 84: CONSTRUCTION OF EXPEESS TRUSTS. 71
Page 87 and 88: INVALIDATING CAUSES. 75 CHAPTER XI.
Page 89 and 90: INVALIDATING CAUSES. 77 Guardian an
Page 91 and 92: INVALIDATING CAUSES. 79 upon good (
Page 93 and 94: INVALIDATING CAUSES. 81 ment is not
Page 95 and 96: INVALIDATING CAUSES. 83 UNLAWFUL PU
Page 97 and 98: INVALIDATING CAUSES. 85 7. Testator
Page 99 and 100: INVALIDATING CAUSES. 87 Immoral Tru
Page 101 and 102: RESULTING TRUSTS. 89 Part IIL—IMP
Page 103 and 104: RESULTING TRUSTS. 91 to give the tr
Page 105 and 106: RESULTING TRUSTS. 93 satisfied with
Page 107 and 108: RESULTING TRUSTS. 95 tion of A.'s e
Page 109 and 110: RESULTING TRUSTS. 97 or successive,
Page 111 and 112: RESULTING TRUSTS. 99 4. Copyhold la
Page 113 and 114: RESULTING TRUSTS. 101 Lastly, if A.
Page 115 and 116: RESULTING TRUSTS. 103 It does not s
Page 117 and 118: RESULTING TRUSTS. 105 CHAPTER XV.
Page 119 and 120: CONSTRUCTIVE TRUSTS. 107 B.—Const
Page 121: CONSTRUCTIVE TRUSTS. 109 quences of
Page 125 and 126: CONSTRUCTIVE TRUSTS. 113 40 Ch. D.
Page 127 and 128: CONSTRUCTIVE TRUSTS. 115 4. A. and
Page 129 and 130: CONSTRUCTIVE TRUSTS. 117 The follow
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a thesis - Institute of Advanced Legal Studies

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