Chapter 18 Multiple choice questions

Chapter 18 Multiple choice questions

Tracing

Quiz Content

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. Which of the following is not a statement about "tracing" made by their lordships in Foskett v McKeown [2001] 1 AC 102, House of Lords?

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. In Foskett v McKeown [2001] 1 AC 102, House of Lords, M misappropriated money entrusted to him and used some of it to pay part of the premium on a life insurance policy. After M committed suicide, the claimants sought to recover their money traced into the proceeds of the policy. In the Court of Appeal Hobhouse LJ suggested that the addition of the claimants' money to the insurance premiums was analogous to the improvement of land. Which analogy did the House of Lords favour?

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. Suppose that the original owner of certain property claims to be able to identify property currently held by you as being their original property in a new form. What defences might you raise to the common law restitutionary claim?

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. At Common Law, "tracing runs into problems when it encounters…….." What is the missing word?

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. Which of the following statements is true?

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. Which of the following is an advantage that proprietary remedies have over personal remedies?

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. It is not possible to trace in equity against one of the following. Which?

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. In Foskett v McKeown [2001] 1 AC 102, House of Lords, Lord Millett stated that "The simplest case is where a trustee wrongfully misappropriates trust property and uses it exclusively to acquire other property for his own benefit. In such a case the beneficiary is entitled at his option either to assert his beneficial ownership of the proceeds or to bring a personal claim against the trustee for breach of trust and enforce an equitable lien or charge on the proceeds to secure restoration of the trust fund". What is the status of the "equitable lien or charge"?

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. It is important to appreciate that in a tracing action, the claimant can trace the money "not because it is the claimant's, but because it is derived from a fund which is treated as if it were subject to _____ in the claimant's favour" (London Allied Holdings Ltd v Lee [2007] EWHC 2061 (Ch)). What is the missing word?

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. Which of the following statements is true

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