A constructive trust may be imposed on the basis of unconscionability alone, without the need to establish a pre-existing fiduciary relationship, where one joint venturer exercises an option for its own benefit contrary to the agreed terms and after the other party surrendered valuable rights to facilitate the acquisition of that option. Rights accrued under a joint venture agreement prior to termination survive the termination and support the imposition of a constructive trust. A registered proprietor who is a 'primary wrongdoer' — attempting to ignore an obligation to share or convey land — cannot rely on Torrens indefeasibility to defeat the other party's equitable interest.
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