There Is No Merit in Having Different Tracing Rules at Law and in Equity Free Essay Example, 2250 words

Mrs. Jones paid into that account a total of stlg11, 700 in the form of cheques to be drawn on the partner's account. Her business in the potato future was highly profitable and she received 50,760 in the form of cheques from the commodity brokers. She paid these cheques into a deposit account in which she was having a balance of 49,860. The trustee sued claiming this money arguing that he had legal title. The case went up to the court of appeal and the court held that the money in the call deposit account that remained was to be paid to the trustee in bankruptcy although this was the profit. Millet LJ in his view held that this was a proprietary claim and to him, money had not been mixed and hence property did not pass to Mrs. Jones. He held that money had and received action ought to be limited to that amount received but however, the trustee in this case did not make a proprietary claim other than a personal claim. Millet LJ seems to have reasoned that the plaintiff could stil l be able to identify the money in the defendant hands although she had already invested the money that she had received in from the commodity futures. We will write a custom essay sample on There Is No Merit in Having Different Tracing Rules at Law and in Equity or any topic specifically for you Only $17.96 $11.86/page Jones had received 11,700 and that at the time of receiving the money, the plaintiff had title to that money. In the case that the court could have followed this reasoning, then it would definitely have been irrelevant to consider whether the trustee retained the property in that money after Mrs. Jones had received them.