Twinsectra v Yardley : trusts, powers and contractual obligations.

Abstract

Reviews the decision in Twinsectra Ltd v Yardley on whether the arrangement between the parties created a Quistclose trust. Considers the significance of certainty of purpose and whether the trustee is under a positive or negative obligation in relation to trust funds. Suggests that the separation of proprietary rights and contractual obligations is the most acceptable solution to this problem.