Equity and Trust: Resulting Trusts Q. "Why the effect of illegality in relation to voluntary transfers should change depending on whether the parties to the transaction are in loco parentis or strangers defies logic and common sense." Critically evaluate arguments for and against the above statement. What changes in law do you think would remedy any defects in the law as developed by case law? Q. In Barclays Bank Ltd v Quistclose Investments Ltd [1970] AC 567, the House of Lords held that where a loan has been given to be used for an exclusive purpose, a trust operates in favour of the lender when there is a failure to carry out the exclusive purpose. Why is this? Whose explanation of Quistclose trusts do you prefer? Lord Wilberforce's explanation in Barclays Bank Ltd v Quistclose Investments Ltd [1970] AC 567, Lord Millett's explanation of the same in Twinsectra v Yardley [2002] 2 AC 164, or Lord Hoffmann's explanation of the same, also in Twinsectra v Yardley [2002] 2 AC 164