Restistance doomed to failure
Powell-Smith, V.
Restistance doomed to failure - 1992 - Contract Journal 363(5877) 11 June 1992, 45(1) .
Discusses the case "Wates Construction London Ltd v Franthom Property Ltd" (Abs44353) which gives clear authority for the view that the employer is trustee of retention monies for the contractor as beneficiary. It was a breach of trust for the trustee to use the trust fund in its own business. Compares with two other retention cases "JF Finnegan Ltd v Ford Sellar Morris Developments Ltd (No 1)" (Abs44625) and "MacJordan Construction Ltd v Brookmount Erostin Ltd".
BANK ACCOUNTS
CLAIMS
RETENTION MONIES
Restistance doomed to failure - 1992 - Contract Journal 363(5877) 11 June 1992, 45(1) .
Discusses the case "Wates Construction London Ltd v Franthom Property Ltd" (Abs44353) which gives clear authority for the view that the employer is trustee of retention monies for the contractor as beneficiary. It was a breach of trust for the trustee to use the trust fund in its own business. Compares with two other retention cases "JF Finnegan Ltd v Ford Sellar Morris Developments Ltd (No 1)" (Abs44625) and "MacJordan Construction Ltd v Brookmount Erostin Ltd".
BANK ACCOUNTS
CLAIMS
RETENTION MONIES