LAWS2017 Study Guide - Final Guide: Shropshire Union Railways And Canal Company, Hsbc Finance, State Transit Authority
Document Summary
Equitable v equitable: if the merits are equal, the earlier interest has priority: abigail v lapin. If later interest holder is not a bfpvfwn they cannot have priority: abigail v. Equitable v legal: later legal interest has priority if a bona fide purchaser for value without notice (actual, constructive or imputed) of the earlier equitable interest: Imputed notice limited to notice of fact in the same transaction: s164(1)(b) Ca: priority extends to a person claiming through a bfpfvwn, even if they have notice of earlier interest or are a volunteer: wilkes v spooner [1911], unless trustee re-acquiring property disposed of in breach of trust. Legal v legal: nemo dat: earlier legal interest has priority over a later legal interest: Legal v equitable: legal interest has priority, unless legal interest holder has engaged in postponing conduct, (1) party to fraud that led to the equitable interest being created: Bad faith by conveying party insufficient: s184g(2).
