Where an oral joint venture agreement provides for sharing profit on resale of property, a constructive trust arises over the profit entitlement, not over the title to the property itself. A term entitling one party to share rental income will not be implied where the agreement is limited to profit on resale and that party's contribution was limited to physical labour while the other party bore all financial risk. A charge over the property may be declared to secure equitable compensation representing the profit share.
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