Ratio Decidendi
A bona fide purchaser for value of the legal estate without notice of a prior equitable interest takes free from that interest. This defence—equity's darling—is a complete answer to equitable claims.
Fapte
Trustees lent trust money on mortgage. The mortgagor subsequently mortgaged the property to Rawlins, who had no notice of the trust.
Rezumatul hotărârii
James LJ held that Rawlins, as a bona fide purchaser for value without notice, took free of the trust interest.
Citate cheie
"The plea of a purchaser for valuable consideration without notice is an absolute, unqualified, unanswerable defence."
— James LJ
Tratament ulterior
Good law
Definitive statement of the bona fide purchaser doctrine.