Rochefoucauld v Boustead creates an exception to s 53(1)(b). But held this does not apply in self-declaration cases; Rochefoucauld is limited in its application to trusts by transfer (i.e. cases where property is transferred to a trustee on the basis it should be held for the beneficiary).

Falk LJ and Flaux C, however, dismissed the appeal. In the absence of signed writing, the courts are prevented by s 53(1)(b) from treating the trust as having existed from the date of declaration.

Zacaroli LJ sticks to orthodox view that failure to comply with s53(1)(b) creates a valid, but unenforceable trust (and, as such, RSW is entitled to the land free of the trustee’s creditor’s claim).

In the case, NIOC declares a trust in favour of RSW, but fails to comply with s 53(1)(b).
NIOC’s creditors get judgment against it and, a week after the judgment, NIOC transfers land to RSW absolutely.
The validity of transfer to RSW depends on whether the parol trust was itself valid.