Legal Principles – Nigerian LawCompass

Equity and Trusts Important

EQUITY AND TRUSTS — Resulting Trusts — Presumption of Advancement — When Property Purchased in Child’s Name

"Where on a purchase, property is conveyed in the name of someone other than the purchaser, the presumption is that the trust of the legal estate results to the man...

Equity and Trusts Important

EQUITY AND TRUSTS — Presumption of Advancement — Rebuttal — Father’s Subsequent Conduct Inadmissible to Rebut Advancement

"Subsequent declarations and acts of which evidence abounds from the defence are inadmissible in evidence to rebut the presumption of advancement. Again, similar dealings or the course of business practice...

Equity and Trusts Important

EQUITY AND TRUSTS — Presumption of Advancement — Rebuttal — Evidence Required to Rebut Presumption

"Both the presumption of a resulting trust and the presumption of advancement can be rebutted by evidence of the actual intention of the purchaser. In these cases, the court puts...

Equity and Trusts Important

EQUITY AND TRUSTS — Presumption of Advancement — Rebuttal — Admissibility of Subsequent Acts and Declarations

"The acts and declarations of the parties before or so immediately after it as to constitute a part of the transaction, are admissible in evidence either for or against the...

Equity and Trusts Important

EQUITY AND TRUSTS — Presumption of Advancement — When Property Purchased in Child’s Name

"Where on a purchase, property is conveyed in the name of someone other than the purchaser, the presumption is that the trust of the legal estate results to the man...

Equity and Trusts Important

EQUITY AND TRUSTS — Presumption of Advancement — Effect — Father Lacks Capacity to Sell Property Given as Advancement

"Since the appellants led no credible evidence to dislodge the presumption of advancement that the father of the 1st respondent intended that the property in dispute was a gift to...

Equity and Trusts Important

EQUITY AND TRUSTS — Trustee and Beneficiary — Distinction Between Legal Title and Beneficial Interest in Bank Shares

"I think that if as a result of the plaintiffs' claims, the defendant is successfully pronounced to be a trustee of any of the shares thereof, he the defendant will...

Equity and Trusts Important

EQUITY AND TRUSTS — Constructive Trusts — Nature and Imposition by Equity on Ground of Conscience

"We must not forget that a constructive trust, as in this case, is imposed by equity on the ground of conscience and it is not based on the prior or...

Equity and Trusts Important

EQUITY AND TRUSTS — Resulting Trust — Necessity for Pleading and Proof

"An implied trust is one founded upon the unexpressed but presumed intention of the settlor. Such trusts are also referred to as 'resulting' because the beneficial interest in the property...

Equity and Trusts Important

EQUITY AND TRUSTS — Merger — Mortgages — Deeds of Same Nature Not Merged by Further Advances

"In the present case, there was no question of the principle of merger operating because all the said exhibits 4, D1 and 5 are deeds of mortgage which are securities...

Equity and Trusts Important

EQUITY AND TRUSTS — Equitable Remedies — Injunction May Survive Failure of Declaration of Title Claim

"The law is equally settled that a claim for an injunction is not necessarily to fail after a claim for a declaration of title fails provided the area of the...

Equity and Trusts Important

EQUITY AND TRUSTS — Merger — Mortgages — Intention Required for Merger

"For a merger to be created in such transactions, such an intention must be evinced in the documents from the documents executed by the parties, or such evidence as would...