Abstract:
The case of Foskett v McKeown brings into sharp focus the relationship between the terms of a contract under which a substitution takes place and the rules of tracing into the substitute asset - gives valuable guidance on some important issues that narrow the law of tracing - new concept of attribution may be no more than a sophisticated form of the concept of causation - no longer necessary to be bound by the myth regarding tracing through mixtures of value - swollen assets theory may assume greater importance.