Ryan v. Whitehead
On the balance of probabilities the $40,000 was transferred for the start‑up and ongoing needs of the proposed company and not as a gift; the presumption of resulting trust applied and the defendant failed to rebut it, therefore the defendant must repay $40,000 with interest.
Source excerpt
- Resulting trust
- Gratuitous transfer
- Presumption of resulting trust
- Burden of proof
- Statute of frauds
- Limitation period