Fowkes v Pascoe
| Fowkes v Pascoe | |
|---|---|
| Court | Court of Appeal |
| Citation | (1875) LR 10 Ch App 343 |
| Keywords | |
| Resulting trusts | |
Fowkes v Pascoe (1875) LR 10 Ch App 343 is an English trusts law case, concerning the circumstances when a resulting trust arises.
Facts
[edit]Mrs Baker bought two sums of stock. One was put in the names of herself and a young lodger called Mr Pascoe, who she treated like a grandson. The other was in her and her friend's name. It was argued by the executor, Fowkes, that when Mrs Baker died Pascoe held the stock on resulting trust.
Judgment
[edit]James LJ held that although a presumption of a resulting trust applied, it was rebutted on the facts, because plainly Mrs Baker intended to make a gift to Mr Pascoe.
the evidence in favour of a gift and against trust is absolutely conclusive… The lady had £500 to invest; she had already large sums of stock standing in her own name, besides other considerable property. Is it possible to reconcile with mental sanity the theory that she put £250 into the names of herself and her companion, and £250 into the names of herself and [Pascoe], as trustees upon trust for herself? What trust - what object is there conceivable in doing this?