This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 edition. Excerpt: ...referring to cases cited are only applications of the wellestablished doctrine that, where one party has acquired the legal title to property to which another has the better right, a court of equity will convert him into a trustee of the true owner."4 It is important to observe that constructive trusts ...
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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 edition. Excerpt: ...referring to cases cited are only applications of the wellestablished doctrine that, where one party has acquired the legal title to property to which another has the better right, a court of equity will convert him into a trustee of the true owner."4 It is important to observe that constructive trusts are not in fact trusts, but are improperly called so, because they resemble trusts in several important particulars, and are in many respects governed by the same rules. In the same way we apply the term "implied contracts" to certain obligations not arising from contract, but which, in the Roman law, are more correctly called quasi contracts, implying merely that they resemble contracts; and, in the same way, constructive trusts should be considered rather as quasi than as actual trusts. There was no impropriety in the employment of the word "use" in this connection, and it is unfortunate that the term "trust" has been substituted. But the expression "constructive use," to designate this class of rights, has become obsolete, and cannot be revived. The term "equitable estate" expresses, however, precisely the same idea; for an equitable estate, if not an active trust, is nothing more than a 1 Young v. Piper, cited supra; 2 Spence, Eq. Jur. 199. 2 Eq. Jur. 1255. Stark v. Starrs, 6 Wall. 419. 4 In what has been said upon the subject of trusts, I have had reference more particularly to rights, or estates, in land. The same principles apply generally to trusts in personal property--subject, however, to the qualification that the separation of the equitable from the legal title is not so common in the case of personal property, and that often under circumstances where, were the case one of...
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