Anderson, Greene & Co. Ltd. v. Kickley

Anderson, Greene & Co. Ltd. v. Kickley

On the documents and course of dealing the shares were the respondent's; defendants held $2,250 of the sale proceeds impressed with a trust for the respondent; defendants repudiated the trust and liquidation of the company made application to the company impossible, so a resulting trust arose and respondent was entitled to recover $2,250; the appeal was dismissed.

Citation
[1934] SCR 388
Parties
Appellant (defendant): Anderson, Greene & Co. Ltd.; Respondent (plaintiff): William S. Kickley
Court
Supreme Court of Canada
Jurisdiction
Canada
Judgment Date
6 March 1934
Procedural Posture
Contract / Appeal From the Court of Appeal for Manitoba to the Supreme Court of Canada
Outcome
Appeal dismissed; judgment of the Court of Appeal for Manitoba affirmed
Legal Topics
Resulting Trust, Implied Trust, Repudiation of Trust, Sale of Shares, Course of Dealing, Authority of Corporate Officers
Source Language
English
Contract Trust Equity Property Resulting Trust Implied Trust Repudiation of Trust Sale of Shares +2 more

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Parties

Anderson, Greene & Co. Ltd.

Appellant (defendant)

William S. Kickley

Respondent (plaintiff)

Procedural Posture

Contract / Appeal From the Court of Appeal for Manitoba to the Supreme Court of Canada

Legal Issues

  1. 1 Whether the shares delivered were the respondent's personal property or property of Gem Lake Mines Ltd.
  2. 2 Whether the defendants held $2,250 of sale proceeds on trust for the respondent or for the company.
  3. 3 Whether defendants could apply the proceeds to an alleged counterclaim against the company.

Ratio Decidendi

On the documents and course of dealing the shares were the respondent's; defendants held $2,250 of the sale proceeds impressed with a trust for the respondent; defendants repudiated the trust and liquidation of the company made application to the company impossible, so a resulting trust arose and respondent was entitled to recover $2,250; the appeal was dismissed.

Court Disposition

Appeal dismissed; judgment of the Court of Appeal for Manitoba affirmed

Orders

  • Appeal dismissed with costs to the respondent
  • Judgment for the respondent in the sum of $2,250