Practitioners advising on Quistclose trust claims should note that advancing funds without documentation, into a general co-mingled account, without language of exclusivity, and without demonstrable knowledge of the specific property, will likely be insufficient to establish the requisite mutual intention. A subsequent written loan agreement covering the same subject matter will likely be held to extinguish any prior equitable interest, converting the claimant to an unsecured creditor. Black v Freedman trust claims require proper particularisation of dishonesty in pleadings, not merely a citation of the authority.
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