A partner who contributes capital to a partnership under a partnership agreement cannot claim a Quistclose trust over that contribution if it is misappropriated, because the money becomes partnership property upon payment. The partner's remedy lies through the partnership winding-up process, not through individual equitable claims. Where a partnership agreement contains express provisions for division of assets on termination, a Muschinski v Dodds constructive trust will not be imposed. An individual partner cannot trace misappropriated partnership funds into the hands of third parties — that right, if it exists, belongs to the partnership receiver.
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