Lloyds Bank Plc V Rosset
Lloyds Bank PLC v. Rosset [1991] AC 107, House of Lords
Facts
Mr. and Mrs. Rosset purchased a dilapidated farmhouse found by Mrs. Rosset. She knew that the purchase money came from a family trust fund, inherited by Mr. Rosset and it was required for the property to be in his name alone. Mrs. Rosset spent most of the time managing the work of constructors and aided in construction even in the absence of Mr. Rosset. The trust fund couldn’t maintain the renovations and the price of the house so Mr. Rossett took an overdraft from Lloyds Bank, unknown to Mrs. Rosset. He defaulted payments and Lloyds bank decided to take possession of the property. Mrs. Rosset then claimed beneficiary interest in the property.
Issues
Does Mrs. Rosset’s activities
Facts
Mr. and Mrs. Rosset purchased a dilapidated farmhouse found by Mrs. Rosset. She knew that the purchase money came from a family trust fund, inherited by Mr. Rosset and it was required for the property to be in his name alone. Mrs. Rosset spent most of the time managing the work of constructors and aided in construction even in the absence of Mr. Rosset. The trust fund couldn’t maintain the renovations and the price of the house so Mr. Rossett took an overdraft from Lloyds Bank, unknown to Mrs. Rosset. He defaulted payments and Lloyds bank decided to take possession of the property. Mrs. Rosset then claimed beneficiary interest in the property.
Issues
Does Mrs. Rosset’s activities