In Kotoye v Saraki (1992) NWLR (Pt. 264) 156, (1992) 11/12 SCNJ 26, this Court held that constructive trust, as in this case, imposed by equity on the ground of conscience and is not based on the prior presumed intention of the parties. See Ughtevbe v Shonowo (supra); Ibekwe v Nwosu (2011) 9 NWLR (Pt. 1251) 1 at 5 Paragraphs A-C.
CONSTRUCTIVE TRUSTS – EQUITY WILL NOT ALLOW LEGAL OWNER RETAIN BENEFICIAL INTEREST
A constructive or implied trust is the formula through which the conscience of equity finds expression. When property has been acquired in such circumstance that the holder of the legal title may not in good conscience retain the beneficial interest, equity converts him into a trustee. See Beatty v Guggenheim Exploration Co. 122 N.E 378,...