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Taylor v Plumer

[1815] 3 M & S 562

Case summary last updated at 24/02/2020 16:54 by the Oxbridge Notes in-house law team.

Judgement for the case Taylor v Plumer

D gave his stockbroker a banker’s draft to invest in exchequer bills. The stockbroker only invested part of it and spent the rest on securities and bullion before attempting to flee the country. D intercepted him and claimed a proprietary right (as the broker was in a fiduciary position) over the bullion and securities. HL held that D could trace the property into the broker’s hands. 
Lord Ellenborough CJ: Tracing was possible because the product of the draft was always identifiable. Thus D had priority over general creditors. Only when the produce was turned into money an mixed with other money was tracing impossible. The claim is proprietary

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