Reconciling the Case Law Under the Certainty of Subject Matter Requirement in the Law of Trusts

Abstract

Argues that the modern cases on 'fungible' property have taken the incorrect approach, and instead there is no such exception to the requirement of separating trust property from non-trust property. The proper analysis of these cases is that they are instances of equitable assignment, and the reason why equitable assignments do not arise where the subject matter consists of goods is attributable to the comprehensive set of rules developed under statute.