Charles Marshall Pty Ltd v Grimsley [1956] HCA 28

Charles Marshall Pty Ltd v Grimsley [1956] HCA 28

The legal and beneficial interests in the shares passed to the plaintiffs upon allotment by their father (the donor); the presumption of advancement was not rebutted by any contemporaneous or admissible evidence, and thus the plaintiffs were entitled to rectification of the register and dividends declared since 1 July 1952.

Jurisdiction
Australia
Procedural Posture
Appeal / Final Judgment
Outcome
Appeal dismissed with costs.
Legal Topics
['resulting Trusts' 'presumption of Advancement' 'beneficial Ownership of Shares' 'rectification of Share Register']
['equity' 'trusts Law' 'company Law'] ['resulting Trusts' 'presumption of Advancement' 'beneficial Ownership of Shares' 'rectification of Share Register']

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Procedural Posture

Appeal / Final Judgment

Legal Issues

  1. 1 ['Whether the shares allotted to the plaintiffs were held by them absolutely or on trust for the donor (their father)' 'Whether the presumption of advancement in favour of the plaintiffs as daughters of the donor could be rebutted by evidence' 'Whether subsequent acts or declarations were admissible to rebut the presumption of advancement']

Ratio Decidendi

The legal and beneficial interests in the shares passed to the plaintiffs upon allotment by their father (the donor); the presumption of advancement was not rebutted by any contemporaneous or admissible evidence, and thus the plaintiffs were entitled to rectification of the register and dividends declared since 1 July 1952.

Court Disposition

Appeal dismissed with costs.

Orders

  • ['Share register of Charles Marshall Pty Ltd to be rectified to reinstate the names of the plaintiffs as holders of 6,960 shares each.' 'Account to be taken of dividends declared with amounts due to each plaintiff to be paid.']