Creation and Constitution of a Trust

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  • Created by: Katie
  • Created on: 26-01-16 14:16
Knight v Knight 1840 per Lord Longdale
Words, subject matter and objects
1 of 21
Lambe v Eames 1871
Difference between imperative words which suggest a trust is intended, and precatory words suggesting a moral obligation
2 of 21
Re Kayford 1975
Facts: Company in liquidation so a customer trust fund was created to stop customers losing their money. Megarry J 'As for the requisite certainty of words, it is well settled that a trust can be created without using the words 'trust''
3 of 21
Sprange v Barnard 1789
'what he does not want for his own want'
4 of 21
Re London Wine
Tangable items need to be seperated if a trust over some, but not all, of the property
5 of 21
Hunter v Moss
Re London Wine odesn't apply in intangables which are of the same value
6 of 21
Boyce v Boyce
Facts: 2 daughters were given houses. The first was to pick the one she wanted first but died before making selection. 2nd daughter couldn't have one as no certainty over her interest (1st could have picked either and there was no way of knowing)
7 of 21
IRC v Broadway Cottages
Must be able to draw up a complete list of beneficiaries
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Jones v Lock 1865
Self- declaration must be clear. Lord Carnworth 'by an act of god, this unfortunate child has been deprived of a provision which his father meant to make for him'
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Richards v Delbridge 1874
Jessel LJ 'the settlor need not use the words 'I declare myself a trustee' but he must do something which is equivelent'
10 of 21
Re Rose
Equity will perfect a transfer where the transferor has done everything in their power to make the transfer
11 of 21
Mascall v Mascall
Facts: Father gave son all of the relevent signed doccuments to transfer land before they fell out. As per the every effort doctrine, it couldn't be revoked
12 of 21
Milroy v Lord 1862
Facts: 50 shares in a trust failed as the legal title never became vested in the trustee. Self-declaration requires the settlor to do 'everything... necessary to be done in order to render the settlement binding upon him'. 'there is no equity in this
13 of 21
Curtis v Pullbrook 2011
Facts: share certificate given but not the transfer form so transfer incomplete.
14 of 21
Curtis v Pullbrook 2011
Exceptions to imperfect gift: 1. Conveyance of land to minor (Trusts of Land & Appointment of Trustee Act 1996) 2. Every effort 3. Unconsionability (Arden LJ in Pennington v Waine) 4. Deathbed gifts 5. Fortuitous vesting 6. Proprietary estoppel
15 of 21
Choithram International v Pagarani 2001
Privvy Council case. LBW 'Although equity will not assist a volunteer, it will not strive officiously to defeat a gift'
16 of 21
Pennington v Waine 2002
Arden LJ unconsionability rule. Haley & McMurtry as well as Parker & Mellows disagree with this untraditional approach. Arden 'The principle against imperfectly constituted gifts led to harsh and seemingly paradoxical results'
17 of 21
Re Fry
As confirmation from treasury not received before death, everything necessary had not been done
18 of 21
Strong v Bird and Wankford v Wankford
Where X owes money to Y, but Y forgives debt and makes X executor of will, X doesn't have to pay (note intention alone would have been enough)
19 of 21
Re Stuart
Any imperfect gift can be perfected when the intended recipient becomes executor
20 of 21
Re Pink
Kennedy LJ there must be 'a continuing intention that the gift should have been given at the time it was given'
21 of 21

Other cards in this set

Card 2

Front

Difference between imperative words which suggest a trust is intended, and precatory words suggesting a moral obligation

Back

Lambe v Eames 1871

Card 3

Front

Facts: Company in liquidation so a customer trust fund was created to stop customers losing their money. Megarry J 'As for the requisite certainty of words, it is well settled that a trust can be created without using the words 'trust''

Back

Preview of the back of card 3

Card 4

Front

'what he does not want for his own want'

Back

Preview of the back of card 4

Card 5

Front

Tangable items need to be seperated if a trust over some, but not all, of the property

Back

Preview of the back of card 5
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