Equity and trust, Case Study. Case-Barclays Bank v Quistclose (1970) AC 567
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... and trust, Case Study. Case-Barclays Bank v Quistclose (1970) AC 567 Introduction of the case. Quistclose case, as it is generally called,represents the concept of commercial form of trust. In this case, it was established that in commercial transactions, entrustment of property during the course of business, transactions cannot be treated as gift. The principle established in this case is the equity requiring that the person receiving a property from another person for a specific purpose cannot treat it as his or her own and should use it only for that specific purpose; also, the transferee cannot keep that property if that specific purpose cannot be fulfilled, as interpreted by Peter Gibson J 1...