 The House of Lords (with the leading judgment being given by Lord Wilberforce) unanimously held that the money was held by Rolls Razor on trust for the payment of the dividends; that purpose having failed, the money was held on trust for Quistclose.The fact that the transaction was a loan did not exclude the implication of a trust.The legal rights (to call for repayment) and equitable rights (to claim title) could co-exist.