Judgment
The judge at first instance and the Court of Appeal ruled in accordance with the law as it had been previously understood.
The Privy Council did not agree with that conclusion. They opined that the facts of this case were novel and raised a new point not previously judicially considered. The Privy Council held that the fairness required by equity meant the fact that the trust property was vested in one trustee (Mr Pagarani himself) at the time of the gift was sufficient to make the conveyance to the trust valid. This was a slightly surprising conclusion, as there was clear legal precedent in Bridge v Bridge (1852) 16 Beav. 315 establishing that the vesting of the trust property in one trustee, the donor, out of many is not sufficient to constitute the trust. The Privy Council sidestepped this point, expressing "some doubt" whether that case had been correctly decided on this point (although not overruling it), but then distinguishing it on technical grounds.
Read more about this topic: T Choithram International SA V Pagarani
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