Constructive Trusts show the conscience of Equity at work Essay

Constructive Trusts show the conscience of Equity at work - Essay Example It is submitted at the outset that the wide applicability of constructive trust renders it necessary to undertake a contextual approach focusing on particular areas. As such, this paper will consider the statement in context of constructive trust applicability in equitable tracing and fiduciary duties and the financial consequences of relationship breakdown. From a historical perspective, equity developed as a result of inflexibility of common law and â€Å"wiped away the tears of the common law†3. In common law, the doctrine of tracing enables a claimant to trace the path of their misappropriated property, identify the proceeds of the property along with persons who have handled the property. Moreover, the common law remedy of tracing enables an applicant to make a claim against the property itself4 However, tracing money at common law is inherently fraught with difficulties, especially where monies have passed through bank or similar accounts and in practice claimants often rely on the equitable doctrine of tracing5. The fundamental problem in common law tracing is the identity requirement, perpetuated by the common reality of funds being mixed. For example, the case of Taylor v Plummer6 affirmed that in order to succeed in a claim for tracing at common law, the property had to be identifiable and distinguishable from other property. Conversely, the Court of Appeal in Agip Africa v Jackson 7 asserted that equity will however allow tracing through mixed bank accounts through the imposition of fiduciary duty and constructive trust, which lends itself to support the assertion that constructive trusts act as the conscience of equity. A prime example of the broader scope of equitable tracing in contrast to legal tracing is the Privy Council decision in AG for Hong Kong v Reid.8 The dispute in the case centred on whether the solicitor general’s subsequent

Policy Brief Case Study Example | Topics and Well Written Essays - 1500 words

Policy Brief - Case Study Example This policy brief examines the different aspects of the law and recommends several adjustments to it and their perceived benefits to the American population at large1. The push for an increased involvement of the government in Health care administration in the US started as early as 1912 when the then presidential candidate Theodore Roosevelt called for an establishment of a national health insurance system for the American population. Health care reforms have from then dominated the country’s political environment and have evolved to become both a scientific, social and an economic issue2. The various decisions that have been taken both by the current Obama administration and other corporations have affected many aspects of the economy. This has included the wages and the living standards of the populace, the economic growth rate of the country and its budgetary allocations. Strategies towards improving the healthcare systems in the country have taken a center stage and have become one of the major challenges facing the government to tackle and accomplish. The health care sector of the economy has been one of the major segments receiving h igh-end funding from the country’s coffers. As a result, the sector is characterized by individual spending than any other variable3. The stakes have been very high, both economically and socially, in the health care issue as the public interest has continued to increase in it. With this, the various responsible bodies have continued to put in place different measures to satisfy what the citizenry needs. The health care systems have had numerous benefits and despite the challenges it faces, these should not be eroded4. Over the years, a lot of administrations have given different views and acted on the health care reforms with various intensities. These healthcare issues have over time revolved around increasing coverage, insurance reforms, decreasing the overall cost and the social