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Essay / Research Paper Abstract
This 4 page paper look sat the legal difference between following and tracing assets with reference to the case of Foskett v McKeown (2001), considering hoe it may be seen as a process rather than a claim and the practical implication this has for subsequent cases. The bibliography cites 2 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEtracefol.rtf
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Unformatted sample text from the term paper:
Lord Millett in Foskett v McKeown (2001) may be seen as placing the greatest emphasis on this as a process. The differences between tracing and following become apparent here. Following
is the process of following the same asset as it travels from one party to another, tracing is where the use of followed and where one asset may be traced
as replacing another When Millet LJ heard the case of Boscawen v Bajwa [1995] 4 ER 769 the approach adopted was that this was not a remedy or a claim,
but it was a process for use as evidence. This appears to be the approach that has been adopted by most commentators. Tracing is seen as the process where the
original owner of the assets, who had legal title to them or was the equitable owner of them seeks to identify where those assets are if they are in the
hands of a third parties (Draper, 2000). By tracing them they find out where they are and who has them, Once the process of tracing them has been completed
it is then possible for the equable owner to take action in which they have the aim of seeking to remedy their loss. This can only take place where the
tracing has been successful and the assts as well as the owner are clearly identified (Draper, 2000). . However, it is also worth noting that there will be
valid defences that can be used, such as the identified party having the property being a bona fide purchaser, will then be able to make their claim via the
courts. The claim, as seen with El Ajou v Dollar land Holdings [1993] 3 All ER 717 may be a personal claim, or as in the case of Agip (Africa)
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