Jones v. McKean

Jones v. McKean

The alleged abandonment could not be raised at the account stage after a decree adjudicating plaintiff's entitlement; monies received by defendant's solicitor were trust monies accountable to the plaintiff; the referee's approach to interest produced an equivalent and acceptable result; therefore the referee's report should be confirmed and the defendant's exceptions disallowed.

Citation
(1897) 27 SCR 249
Parties
Appellant/plaintiff: Thomas R. Jones; Respondent/defendant: George McKean; Assignor/cestui Que Trust: J. H. Chapman; Solicitor/agent for Defendant: James Straton
Court
Supreme Court of Canada
Jurisdiction
Canada
Judgment Date
24 March 1897
Procedural Posture
Appeal (trust/account of Trust Funds) / Final Judgment on Appeal to Supreme Court of Canada
Outcome
Appeal allowed; judgment of Supreme Court of New Brunswick reversed; referee's report confirmed and defendant's exceptions disallowed; defendant ordered to pay plaintiff balance and costs.
Legal Topics
Account of Trust Funds, Abandonment of Interest, Assignment of Policy, Solicitor Fiduciary Duties, Interest on Trust Funds, Compromise of Claims
Source Language
English
Trusts Equity Civil Procedure Account of Trust Funds Abandonment of Interest Assignment of Policy Solicitor Fiduciary Duties Interest on Trust Funds +1 more

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Parties

Thomas R. Jones

Appellant/plaintiff

George McKean

Respondent/defendant

J. H. Chapman

Assignor/cestui Que Trust

James Straton

Solicitor/agent for Defendant

Procedural Posture

Appeal (trust/account of Trust Funds) / Final Judgment on Appeal to Supreme Court of Canada

Legal Issues

  1. 1 Whether the plaintiff had abandoned his interest in the Delaware policy by correspondence
  2. 2 Whether monies paid to defendant's solicitor were trust funds properly accountable to the plaintiff
  3. 3 Whether the defendant could raise alleged abandonment at the accounting stage after decree

Ratio Decidendi

The alleged abandonment could not be raised at the account stage after a decree adjudicating plaintiff's entitlement; monies received by defendant's solicitor were trust monies accountable to the plaintiff; the referee's approach to interest produced an equivalent and acceptable result; therefore the referee's report should be confirmed and the defendant's exceptions disallowed.

Court Disposition

Appeal allowed; judgment of Supreme Court of New Brunswick reversed; referee's report confirmed and defendant's exceptions disallowed; defendant ordered to pay plaintiff balance and costs.

Orders

  • Appeal allowed and judgment of the Supreme Court of New Brunswick (May 6, 1895) reversed.
  • Referee's report dated 31 Oct 1894 confirmed; defendant's exceptions disallowed.