March 24, 2017 11:01 AM | Posted by Simon Moses |
Notwithstanding the absence of an express provision in an agreement appointing one party as the trustee of the other party's moneys, where the parties' actions indicate the existence of a trustee/beneficiary relationship, an express or purpose trust will be deemed to exist, the consequence of which is that the trustee party will be deemed to have fiduciary duties to the beneficiary. [read more]