Where a claimant seeks to establish an express trust over transferred funds, the claimant must adduce evidence of objective facts and circumstances (what was said and done) from which an intention to create a trust can be inferred; evidence of the parties' subjective beliefs or intentions is inadmissible for this purpose. If the claimant's evidence of objective facts is rejected as implausible, the claim fails — the court cannot reason by elimination of alternative hypotheses. The presumption of a resulting trust is displaced where there is evidence (even if contested) that the transfer was a loan or loan repayment, and the matter then falls to be decided on the whole of the evidence.
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