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Equity & Trust Law

Question: It is time for the Charity Commission to be given a legislative definition of ‘charitable trust’ with which to work. The current definition provides for anomalies and unfairness within the law.

Discuss.

Answer: The Charity Commission and the judiciary determine charitable status. The Charity Commission is a public body appointed by the Government. It exercises some judicial functions in ruling whether to designate charitable status...


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Details: - Mark: 67% | Course: Equity and Trust Law | Year: 2nd/3rd | Words: 2556 | References: Yes | Date written: Not available | Date submitted: September 29, 2008 | Coursework ID: 5

Question: In what circumstances will courts deem unauthorized profits received by a fiduciary to be held on constructive trust for his/her principal? Why, in such circumstances, should the principal’s right be proprietary rather than personal?

66% | 2nd Year LLB | Property II (Trust)

Answer: The use of the language of constructive trusts describes the nature and measure of a defendant’s liability: he is liable for participating in a breach of trust, regardless of the fact that...


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Details: - Mark: 66% | Course: Equity and Trust Law | Year: 2nd/3rd | Words: 1662 | References: No | Date written: Not available | Date submitted: May 05, 2011 | Coursework ID: 685

Question: Should Fiscal and Trusts Law Privileges be separated?

Answer: It has been contended on a number of recent occasions that the linking of fiscal and trusts law privileges to the same definition of “charitable” produces unsatisfactory results: in other words, that...


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Details: - Mark: 66% | Course: Equity and Trust Law | Year: 2nd/3rd | Words: 2368 | References: No | Date written: Not available | Date submitted: February 19, 2009 | Coursework ID: 362

Question: Dora died earlier this year, leaving a valid will appointing her husband Edwin and her friend Fiona as her trustees and giving all her estate to them to be held on trust ‘for Edwin during his lifetime and then for such of my children Alice, Boris and Cassandra who reach 21 and if more than one in equal shares’. The will contained no other provisions. Alice, Boris and Cassandra are Dora’s children by an earlier marriage. Alice is now 23, Boris is 18 and Cassandra is 15. The trust fund was worth £600,000 when Dora died.

Fiona speaks to her writer friend Gerald who has made a substantial amount of money from his own investments. He recommends that the trustees should invest £150,000 of trust money in an investment portfolio which subsequently increases in value to £300,000 and another £150,000 in shares in Sound Plc. The remainder of the trust fund is put into a bank account. Sound Plc goes into insolvent liquidation a few months later and the shares therefore become worthless.

Edwin does not particularly like Dora’s children and he has a poor relationship with them. Recently Alice asked the trustees for £40,000 from the trust to enable her to set up a dog grooming business. Boris is about to go to university in London to study politics and he has asked the trustees if he can have some money from the trust to help him with living expenses.

Partly as a result of their poor relationship with Edwin, Alice and Boris are now considering whether it would be possible to end the trust and divide the trust fund between the beneficiaries.

You are asked to provide practical legal advice, specifically addressing the above facts and appropriately citing all relevant authority in answering the following questions, which carry equal weight:

(a) Whether the trustees have acted lawfully in making their investment decisions and what consequences may follow if not

(b) Whether Alice and Boris can receive help from the trust, as requested

(c) Whether, and if so how, your answer to (b) would be different if Edwin has now died

(d) Whether the trust can be ended and if so, how this could be achieved. You may assume for this part of the question that the facts are as in part (c) above.

Mark - 65%
Coursework 2 - Equity and Trusts (Year 2)

Answer: The issue relates to the power and duties of trustees. The trust grants Dora’s estate to Edwin for life, meaning he has a life interest and benefits from the income generated by...


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Details: - Mark: 65% | Course: Equity and Trust Law | Year: 2nd/3rd | Words: 2180 | References: Yes | Date written: November, 2016 | Date submitted: February 15, 2017 | Coursework ID: 1002

Question: Henrik wishes to set up some trusts

The following are clauses from the trust deed.
My three Picasso paintings to my trustees with one painting to be held on trust for my daughter, Elizabeth, (whichever she shall choose), and the remaining paintings to be held on trust for my son Samuel.

A sufficient sum of money is to be held in trust to provide a reasonable income for my wife during her lifetime and while she remains unmarried and an adherent to the Lutheran faith. On my wife’s death, the sum of money is to be divided between my old friends still living or their relatives in such proportions as the trustees, in their absolute discretion, shall decide.

£3,000,000 to my trustees to hold for in trust for the benefit of my children Elizabeth and Samuel, with power to apply up to 30% of the net income from the money for making, at their absolute discretion, grants to or for the benefit of any of the employees or ex-employees of my company, Slate Ltd, in such amounts and at such times as they see fit.

£2,000,000 to my trustees for the benefit of all of the people who live in Devon and Cornwall.
The bulk of the residue of my estate to my trustees to hold on trust for my niece, Megan, until she reaches the age of 21.

Unfortunately Elizabeth is extremely ill and is not expected to live.

Henrik is the majority shareholder in Slate Ltd, which currently has 260 employees in Truro.

Discuss these provisions with critical consideration of decided cases.

University of Exeter, Law LLB

Answer: In order for the trusts Henrik wishes to set up to be valid, there has to be three certainties. These are certainty of intention, subject matter and objects. Without these, the trusts...


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Details: - Mark: 65% | Course: Equity and Trust Law | Year: 1st | Words: 1130 | References: Yes | Date written: February, 2014 | Date submitted: February 03, 2015 | Coursework ID: 901

Question: ‘The law of express private trusts should require certainty of purpose instead of certainty of objects’. Discuss.

LL275 Property Law II 65%

Answer: The basic rule of English trusts law is that express trusts must have beneficiaries –people for whose benefit the trust property is held and applied –and hence that it is not possible...


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Details: - Mark: 65% | Course: Equity and Trust Law | Year: 1st | Words: 1708 | References: Yes | Date written: November, 2012 | Date submitted: May 16, 2014 | Coursework ID: 877

Question: What is meant by a “constructive” trust and when does it arise?

Answer: A constructive trust is a trust imposed on property by operation of law that gives the beneficiaries equitable proprietary rights to obtain the property in specie, along with any increase in its...


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Details: - Mark: 65% | Course: Equity and Trust Law | Year: 2nd/3rd | Words: 2399 | References: No | Date written: Not available | Date submitted: April 24, 2011 | Coursework ID: 677

Question: It is time for the Charity Commission to be given a legislative definition of ‘charitable trust’ with which to work. The current definition provides for anomalies and unfairness within the law. Discuss.

Answer: The Charity Commission and the judiciary determine charitable status. The Charity Commission is a public body appointed by the Government. It exercises some judicial functions in ruling whether to designate charitable status...


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Details: - Mark: 65% | Course: Equity and Trust Law | Year: 2nd/3rd | Words: 2256 | References: Yes | Date written: Not available | Date submitted: October 13, 2008 | Coursework ID: 37

Question: ‘There is a great fear in our law that recognising a remedial constructive trust will give rise to an indiscriminate or unjustified variation of existing property rights.’ Discuss.

Answer: The topic concerning remedial constructive trusts in the UK law is complex due to the fact that remedial constructive trusts are a remedy that is still at an embryonic stage of development...


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Details: - Mark: 64% | Course: Equity and Trust Law | Year: 2nd/3rd | Words: 2450 | References: Yes | Date written: November, 1999 | Date submitted: February 19, 2009 | Coursework ID: 361

Question: THE (LEGAL) MEANING OF CHARITY - A DEFINITION

Answer: There is no legal definition of charity. Common law societies have always relied upon a judicial understanding as to which activities merit the description of charitable. Consequently, one can describe the attributes...


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Details: - Mark: 64% | Course: Equity and Trust Law | Year: 2nd/3rd | Words: 1967 | References: No | Date written: November, 1998 | Date submitted: February 16, 2009 | Coursework ID: 227


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