Re Goldcorp Exchange Limited is a landmark, but in my opinion, mistaken Privy Council (PC) decision. First, the PC failed to apprehend the nature of bullion investment and applied the wrong legal standard. Meanwhile, I also argue that the tangible/intangible dichotomy, which is commonly adopted, is mistaken. Secondly, the approach taken by the PC was inconsistent with several common legal theories/principles. Thirdly, even if I was wrong in my previous arguments, the PC was still mistaken in holding that equitable rescission was not available to Goldcorp’s customers, who suffered financial losses, even though there existed misrepresentations.
Benny Chung, Challenging the orthodoxy: a critique of Re Goldcorp and the English law approach to the certainty of subject matter, Trusts and Trustees, https://doi.org/10.1093/tandt/ttz024. Published: 6 May 2019.