THE LAW OF TRUST 357
III. Section 92
Property bought for being held on trust for certain persons.
A contracts to buy property from B and represents to B that the purpose of buying it is to hold the property on trust for C. B believing in the representation of A sells the property to A.
A must hold the property for the benefit of C.
This obligation is also limited in its extent—It is enforced only to the extent necessary to give effect to the contract.
The contract may be to hold part of the property in trust for C. In that case the obligation will be enforced only to the extent of the property.
(4) Constructive Trust arising out of merger of two personalities in one individual.
I. Section 87
This provides for the case of double personality—one man but two persons.
Every contract, debt, obligation or assignment requires two persons.
But these two persons may be the same human being.
In all such cases, were it not for the recognition of double personality, the obligation or incumbrance would be destroyed by merger.
Because no man can in his own right be under any obligation to himself; or own any incumbrance over his property.
But with the recognition of the double personality this is possible.
In fact this is necessary.