precedents and the principles behind them were brought together as rivals for precedence; in the end, the principle that was thought to be most fundamental, to represent the larger and deeper social interests, put its competitors to flight. I am not greatly concerned about the particular formula through which justice was attained. Consistency was preserved, logic received its tribute, by holding that the legal title passed, but that it was subjected to a constructive trust.[1]A constructive trust is nothing but the formula through which the conscience of equity finds expression."[2]Property is acquired in such circumstances that the holder of the legal title may not in good conscience retain the beneficial interest. Equity, to express its disapproval of his conduct, converts him into a trustee. [3]Such formulas are merely the remedial devices by which a result conceived of as right and just is
- ↑ Ellerson v. Westcott, 148 N. Y. 149, 154; Ames, "Lectures on Legal History," pp. 313, 314.
- ↑ Beatty v. Guggenheim Exploration Co., 225 N. Y. 380, 386.
- ↑ Beatty v. Guggenheim Exploration Co., supra; Ames, supra.
