A pocket-sized advisor to key examinable components of the undergraduate legislation curriculum and the CPE/GDL. It allows you to determine, comprehend and decide to reminiscence the salient issues of other parts of the legislations. booklet hide; name; Copyright; Contents; desk of circumstances; desk of Statutes; the best way to use this e-book; 1 fairness and the character and kinds of belief; 2 ability and the 3 certainties; three Statutory formalities; four structure of a belief; five ensuing trusts; 6 positive trusts; 7 Trusts of the relatives domestic; eight Charitable trusts; nine Non-charitable function trusts, trusts of imperfect legal responsibility and unincorporated institutions; 10 Trustees and management of the trusts; eleven Breach of belief and treatments; 12 Equitable treatments of injunction and particular functionality; thirteen placing it into perform
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Extra info for Equity and Trusts Lawcards 2010-2011
You should now be confident that you would be able to tick all of the boxes on the checklist at the beginning of this chapter. To check your knowledge of Equity and the nature and types of trusts why not visit the companion website and take the Multiple Choice Question test. Check your understanding of the terms and vocabulary used in this chapter with the flashcard glossary. 15 2 Capacity and the three certainties Does a minor have capacity to create a valid trust? What are the three certainties?
Such trusts have, over the years, been imposed in a wide variety of situations in which the courts have found it necessary to compel a person to hold property for the benefit of another in the interests of justice and good conscience. The following are examples of the types of situations in which the courts have been prepared to impose constructive trusts: ■ where a fiduciary misappropriates property entrusted to him or has made unauthorised profits; ■ where a third party knowingly receives trust property or is an accessory who dishonestly facilitates the trustee’s breach of trust; ■ where a statute enacted to prevent fraud is fraudulently used by one person to enrich himself at another’s expense; ■ where a person acquires legal title to property through killing another; or ■ in relation to claims to a beneficial interest in the family home.
The hallmarks of this interest are that: ■ it is capable of being disposed of or acquired like any other interest in property; ■ it may itself become the subject matter of a trust; for example, if T holds property on trust for B, B may declare himself a trustee of the interest for the benefit of Z (known as ‘Sub-trust’); 5 EQUITY AND THE NATURE AND TYPES OF TRUSTS In the alternative, B may direct his trustee to hold his equitable interest on trust for Y (this may be a disposition under Grey v IRC ).