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Contentious Issue of Interpretation of Trust - Case Study Example

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From the paper "Contentious Issue of Interpretation of Trust" it is clear that the history of illegality is not a one fit- for- all cases. A number of all contributory factors need to be identified, assessed and argued before a final verdict is passed…
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Contentious Issue of Interpretation of Trust
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Download file to see previous pages The relationship ended, but Kathleen claimed a share of the joint property. The defendant claimed that since the transaction was itself illegal, action would not succeed. However, the House of Lords (HOL) held that since the applicant relied on trust, and not on the illegality of the agreement, the applicant’s stand was reasonable under the law. The “illegality doctrine “ is contained in the dictum “ex turpi non oritur actio”, or in other words, no suit can arise out of an inherent illegal or unlawful activity. (Smith).
The concept of ex turpi causa may sometimes be raised as a defence during the course of many claims in tort. Since people must be themselves responsible for their own criminal actions, the law recognizes that Courts, during normal cases, must not to recompense people who have suffered a loss in the course of their own wrongful actions, even where the primary fault could lie with someone else. This is also known as a public conscience test. In this case, HOL cast off the aspect of this test, or how the case would appear to the public. The main aspect that the Courts considered was reliability. Although it could only be selectively applied in property cases, as in Tinsley v. Milligan, it has been used very sparingly and selectively during trial proceedings of tort cases. (Stone & Rolls v Moore Stephens). This could be reaffirmed in the case of Stone & Rolls v Moore Stephens (2008). In this case, a one-man business owned and run by Mr Stojevic, committed letter of credit frauds, by issuing fake documents, thus cheating banks of a substantial sum of money. One of such aggrieved banks brought action against Stojevic and his company, and later the company was liquidated. But neither the company nor its owner was in a position to pay off creditors. Under such circumstances, the liquidator brought an action against the statutory auditor, Moore Stephens, and held him responsible, stating that his negligence in not properly auditing the financial statements had led to such irregularities and the ultimate fiasco of the company’s business. ...Download file to see next pagesRead More
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