Is a vendor not a trustee but a conveyor of funds?
Saskatchewan, Canada
The following excerpt is from O'Dell v. Hastie, 1968 CanLII 513 (SK QB):
See also Wall v. Bright (1820) 1 Jac & W 494, 37 ER 456, wherein the master of the rolls states at p. 459: “The vendor is, therefore, not a mere trustee; he is in progress towards it, and finally becomes such when the money is paid, and when he is bound to convey.”
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
Is a vendor's lien waived by the fact that the vendor is suing the vendor for unpaid purchase money? (Saskatchewan, Canada)
Is a lien against a vendor waived by the fact that the vendor is suing the vendor for unpaid purchase money? (Saskatchewan, Canada)
In what circumstances will a vendor be able to obtain a judgment against a plaintiff for failure to pay the vendor? (Saskatchewan, Canada)
Can a vendor be held responsible to the purchaser for the consequences of a latent defect known to the vendor prior to the sale of a house? (Saskatchewan, Canada)
If a vendor takes a personal judgment against a plaintiff, and then withdraws the execution of the contract, what is the effect of the judgment against the vendor? (Saskatchewan, Canada)
What is the limitation period for a trustee to search for information that could lead to a claim for lost funds? (Saskatchewan, Canada)
Is a vendor required to make title of a vendor in a specific performance action? (Saskatchewan, Canada)
In what circumstances will a vendor's relation with the purchaser of an estate under a contract be considered to be that of a trustee and cestui que trust? (Saskatchewan, Canada)
When a vendor contracts to sell to a purchaser an agreement for a lease and the purchaser subsequently repudiates the contract, can the vendor continue to exercise its right to exercise that right? (Saskatchewan, Canada)
Can a vendor's name be filled in to give effect to the established intention of the vendor? (Saskatchewan, Canada)
