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. Tracing is…

recovering your assets from the defendant correct incorrect

identifying the proceeds of your original asset correct incorrect

making the defendant return the proceeds of your asset correct incorrect

imposing a constructive trust on the defendant correct incorrect

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. What is the doctrine of election?

Choosing to sue in equity or common law correct incorrect

Choosing the defendant that you wish to sue correct incorrect

Choosing the property that you wish to recover correct incorrect

Choosing the remedy that you wish to pursue correct incorrect

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. What is the difference between common law and equitable tracing?

In common law tracing it is only possible to recover damages correct incorrect

It is only possible to take the increase in value of an asset in common law tracing correct incorrect

In common law tracing it is not possible to trace into a mixed fund correct incorrect

It is only possible to recover the original asset in common law tracing correct incorrect

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. It is only possible to trace in equity if there is:

A trust correct incorrect

A mixed fund correct incorrect

A fiduciary relationship correct incorrect

There is more than one defendant correct incorrect

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. What is the rule of the lowest intermediate balance?

The claimant can have whatever is left correct incorrect

The claimant can only have money that always remained in the bank account correct incorrect

The claimant can only have money taken from the trust correct incorrect

It is not possible to claim money from an active bank account correct incorrect

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. Why is it not possible to trace into an overdrawn bank account?

A bank should not have to make good the loss when the bank has done nothing wrong correct incorrect

The property being traced must always be identifiable correct incorrect

Money is not traceable, because it is not an identifiable asset correct incorrect

There may be many claims on a debtor's bank account correct incorrect

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. What is the rule in Clayton's Case?

The first item on the debit side of the account, is discharged by the first item on the credit side correct incorrect

If two trusts trace into a bank account, they share what is left equally correct incorrect

If two trusts trace into a bank account, they share what is left pari passu correct incorrect

It is not possible to trace into a bank account, because the money there has no physical existence correct incorrect

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. Why was the rule in Clayton's Case held not to apply in Barlow Clowes International Ltd. v Vaughan [1992] 4 All ER 22?

The rule was out of date correct incorrect

The rule was unfair correct incorrect

The money taken was merged in a common pool correct incorrect

It was not a legally binding rule correct incorrect

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. In Foskett v McKeown & Others [2001] 1 AC 102, the prospective purchasers of the building plots were entitled to a proportionate share of the life insurance death benefit, because:

Their property was wrongfully misused correct incorrect

The children were volunteers and thus had no claim to the property correct incorrect

A wrongdoer should not profit from his own wrong correct incorrect

The insurance payout should go to the most deserving parties correct incorrect

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. Who can defeat a tracing claim?

A volunteer correct incorrect

A defendant who mixes trust money with his own correct incorrect

A bona fide purchaser for value without notice correct incorrect

A person who has changed his position correct incorrect