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Perhaps this discussion should be continued outside the RDG, but I have one further question. I appreciate that the relationship changes once the purchase price has been paid in full (or perhaps tendered) and the purchasers are in a position to call for conveyance of legal title, but would payment of the purchase price generate a constructive trust if the contract was not otherwise specifically enforceable?

With best wishes,
Rob

On 12 Mar 2004, at 1:36 pm, Lionel Smith wrote:

I would add a third possibility to Rob's list: if and to the extent that the purchaser has paid the purchase price to the vendor, this also makes a kind of perfectionary constructive trust. This principle does not depend on specific enforceability or title documents. And unlike the trust arising from specific enforceability, it requires that income from the land be accounted for to the purchaser.