Equity and trusts problem question answers. LexisNexis Australia 2019-01-06

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Oxford University Press

equity and trusts problem question answers

Do you think it is too strict? Not that we are not intelligent but because we fail to understand the questions and to use the appropriate methods in tackling them. For questions on access or troubleshooting, please check our , and if you can't find the answer there, please. The trust may not be charitable if the object was merely to increase the knowledge that is not itself a charitable objects unless it was combined with teaching or education. Matthew, A Anne Matthew is a Lecturer in law at the Queensland University of Technology. The gift may exist for a period exceeding the perpetuity period and therefore would not be allowed.

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Concentrate Questions and Answers Equity and Trusts

equity and trusts problem question answers

Where the fiduciary is a trustee the potential for abuse of position arises because the trustee may use his powers of management over the trust property for his own benefit rather in the best interest of the beneficiaries. Paul Matthews states that there can be problems by interpreting a gift subject to contractual rights. We are based in Hulme near to the Manchester University campus. Trusts for the welfare of animals generally, or of specific types of animals are accepted as charitable purposes and enforceable, so long as the organisation or sanctuary operates in the public domain. It did not fail for perpetuity in relation to the erection of the monument as it was assumed that the monument would be erected within the period. This book also includes separate chapters on skills for success in both exams and in coursework assessments. Littletown Independent School clearly could be seen as a charitable body that exists to advance education.

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Concentrate Questions and Answers Equity and Trusts

equity and trusts problem question answers

Answer: In order to provide a reasoned response to the above statement it is important to firstly examine the principal statute surrounding formalities, namely the Law of Property Act 1925 the 1925 Act. The facts of the case concerned a trust to provide a recreational ground for the benefit of employees of a company. Answer: The Charity Commission and the judiciary determine charitable status. This structure is based on the following information: 1. Advise the potential beneficiaries in relation to the distribution of Geraldines Estate, setting out the equitable principles and supporting your advice with authorities.

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Concentrate Questions and Answers Equity and Trusts

equity and trusts problem question answers

I make the following bequests: i The gravel area in front of The Laurels to be used as a car park for the benefit of the employees of Hats and Stuff Ltd for as long as the law will allow. The next issue to consider is whether to develop an animal sanctuary is charitable. If the trust funds here may be used solely for charitable purposes the test will be satisfied. . Trusts for the benefit of single animals, are usually not charitable, and whilst apparently valid as non-charitable purpose trusts if restricted to the perpetuity period, should really fail for want of a human beneficiary. Examples of written questions with fact scenarios follow, each with a suggested answer plan, sample answer and comments on how the answer might be viewed by an examiner.

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LexisNexis Australia

equity and trusts problem question answers

The individuals directly or indirectly benefited have no equitable interest in the trust property itself, although they do provide the means of enforcement. Following the advice of her friend, she has come to you to ask whether the clauses contained within her will would be considered valid. Charitable trusts, as distinct from private trusts, are not subject to the rule against excessive duration. This essential studyguide contains a variety of model answers to give you the confidence to tackle any essay or problem question, and the skills you need to excel. However, as no period was stipulated for the upkeep of the monument this part of the trust failed. However, with my set of examination notes I have provided an easy structure to follow for one of the topics which is a very popular area that tends to come up on the exam paper almost every year. It includes all relevant authorities case law and legislation when required, and includes factual details of cases where needed, to allow students to distinguish the problem question they have with the authorities they are using.

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Q & A Revision Guide: Equity and Trusts 2012 and 2013

equity and trusts problem question answers

Legal interests are considered binding on. Littletown Ladies Knitting Club could not be seen as a charitable organization but could be interpreted as an unincorporated association. This duty of loyalty applies to prevent the fiduciary abusing his position. Your fellow students know exactly where the pitfalls lie and what the key elements will be to your success in that module. With extensive teaching experience, her research interests include legal education and skill development in torts law and equity and trusts. The issue is whether the donation to Littletown Independent School is Charitable, does the gift advance education as declared in s. With their assistance, you can become well prepared and can avoid having to retake exams.

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How to answer a problem question

equity and trusts problem question answers

The trust would potentially fail here either for failure to satisfy the beneficiary principle or on the ground that the rule against perpetuities would be at risk of being violated. Considering the perpetuity rule, In Re Dean, the period was for 5o years if they so long live and was held to be valid. Textbook readings Principles of Australian Equity and Trusts — Radan and Stewart; Cases and Materials on Equity and Trusts — Heydon and Leeming 2. The School is the trustee, if as possible, to promote the stated purpose of the trust. The next issue to consider is the perpetuity period. The result is a series that offers you better support and a greater chance to succeed on your law course than any of its rivals. It exercises some judicial functions in ruling whether to designate charitable status.

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LexisNexis Australia

equity and trusts problem question answers

Matthews underlines the fact that if the rules of the unincorporated association catch the gift, it will fall under the contract holding theory but if they do not they will fall under a gift to the current members of the association. This book offers advice on what to expect in exams and how best to prepare. C hapter 1: The Nature and History of Equity Chapter 2: The Classification of Equitable Interests and Priorities Chapter 3: Equitable Assignments: The Requirements of Writing Chapter 4: Equitable Assignments: The Requirements of Form Chapter 5: Fiduciary Obligations Chapter 6: Third Party Liability for Breach of Fiduciary Obligation Chapter 7: Confidential Information Chapter 8: Unconscionable Transactions: Undue Influence and Unconscionable Unconscientious Bargains Chapter 9: Penalties and Forfeiture Chapter 10: Estoppel Chapter 11: Determining Ownership of Property in Equity: Resulting and Constructive Trusts Chapter 12: Equitable Remedies: Specific Performance Chapter 13: Injunctions and Declarations Chapter 14: Equitable Compensation and Damages Chapter 15: The Nature, Description and Classification of Trusts Chapter 16: The Creation of Express Trusts: The Constitution of Trusts Chapter 17: The Creation of Express Trusts: The Three Certainties Chapter 18: Discretionary Trusts and Powers Chapter 19: The Legality of Trusts Chapter 20: Purpose Trusts Chapter 21: Charitable Trusts Chapter 22: The Office of Trustee: Capacity, Appointment and Removal of Trustees Chapter 23: The Office of Trustee: Powers, Duties and Discretion Chapter 24: The Office of Trustee: Rights, Liabilities and Defences Chapter 25: The Beneficiary: Rights and Remedies. Consequently, questions of perpetuity aside, we seem to have one potential valid purpose trust and one that is certainly void. So if you have any questions or need help using the site, please do. The current definition provides for anomalies and unfairness within the law.

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Concentrate Questions and Answers Equity and Trusts

equity and trusts problem question answers

Answer: English law has, for a long time relied upon a judicial understanding of what charity is by looking at which activities previous judges have accepted as meriting the description of charitable and. By reading the gift in this light the validity will be sustained. They have previously worked in top tier consulting firms and now have a position at one of the largest commercial law firms in Australia. This raises the question as to whether the test for charitable object is satisfied. Keywords: , , , , , , , , , , , , , , , Access to the complete content on Law Trove requires a subscription or purchase.

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