Moss orally declared himself trustee of 50 of his 950 shares in a private company for Hunter's benefit. The Court of Appeal held that a trust of intangible property (shares) does not fail for uncertainty of subject matter even when the specific shares are not segregated from the larger holding, distinguishing tangible chattels.

Milroy v Lord established the fundamental principle that for a gift to be valid, it must be completely constituted either by transfer of legal title (whether to the donee outright or to trustees) or by declaration of trust. The case demonstrates that an imperfect gift cannot be saved by treating it as a declaration of trust unless there is clear evidence of such intention.

Strong v Bird established the rule that an imperfect gift can be perfected where the intended donee later becomes the donor's executor. This case created an important exception to the general rule that equity will not assist a volunteer to perfect an imperfect gift.

Tinsley v Milligan established that a party can recover property held under an illegal trust if they can prove their equitable interest without relying on the illegality. The case clarified the application of the 'reliance principle' in cases involving illegal transactions between joint participants.

Threefold classification of gifts to unincorporated associations; synagogue land held on valid charitable trust.