||All England Reporter
|| All ER (D) 291 (Oct)
|| EWHC 2968 (Ch)
Edward Bartley Jones QC sitting as a deputy judge of the High Court
||Stuart Hornett (instructed by Jeffrey Green Russell Limited) for KBL.
||David Head (instructed by Edwin Coe) for the defendants.
||26 October 2012
Contracts - Formation - Existence of contract - Joint venture for development of properties - Claimant company bringing claims against two defendants alleging breach of joint venture agreement in respect of two development sites - Whether binding agreements for joint venture - Whether defendants in breach of joint venture agreements - Whether equity arising in claimant's favour.
Contracts Formation. The Chancery Division held that the claimant company had failed to establish a cause of action against the second defendant for breach of a joint venture agreement in respect of two property developments. However, the court held, in respect of the first defendant company which had failed to follow through with the development of a site (the property), that a Pallant v Morgan trust arose and, accordingly, the court awarded the claimant 40% of the agreed actual net profit made by the first defendant on the re-sale of the property. Where property had been acquired for the joint benefit of A and B, there was no requirement, in respect of a Pallant v Morgan trust, that there had to be agreement or understanding that B would acquire a specific proprietorial interest.
- An Official transcript is the final version of the judgment prepared by shorthand writers. LexisLibrary contains all judgments from the High Court and aboveView Judgment
- Commentary discussing this particular case from LexisLibrary's comprehensive range of titles including Butterworths, Halsbury's and TolleyView related commentary
- The All England Law Reports comprises judgments with headnotes and catchwords indicating the area of law and key issues of the case prepared by legally qualified editorsFind AllER Reports
- Cases related to this particular case that are related to, or discuss this caseView related cases