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Friday 8 February 2013

Equity And Trusts

Equity and Trusts
Assignment 1 Autumn 2011

To establish if Andrews trust is valid it will require three certainties. In Knight v Knight [1] Lord Langdale said….

…First, if the rowing argon so used, that upon the whole, they ought to be construed as imperative; Secondly, if the motif of the recommendation or wish to be certain; and Thirdly, if the objects or persons intending to nurse the benefit of the recommendation or wish be in addition certain

Is thither a certainty of innovation in Andrews will? The document does not have to say the word trust, in Paul v Constance [2] the word trust was never used but deemed so. Trusts are imperative, the will trust must have an obligation and also the certainty of subject matter so that the trustees terminate delineate the subject with clarity and finally the certainty of objects, it is an essential fixings of a trust that the beneficiary is identifiable.

A) This appears to be a discretional trust, has Andrew expressed his intentions in a practical manner with lightsome instructions? Do Brian and Charlene have a fiduciary spring to distribute up to £10,000 between David, Edward and other good friends whom are not mentioned elsewhere in the will, may not be clear enough.

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It had been held until the landmark decision in Re Gulbenkians Settlement Trusts [3] that there had to be a sleep together distinguish of objects before a power is appointed, but as there would have been no obligation for the donee of the power to be any awards in that case it was incorrect that a complete list should have been drawn up. Since Re Gulbenkian however, the test has at one time been made softer and is now referred to as the postulant test or is or is not test. By applying this test in Andrews will, the trustees can decide if soulfulness is or is not in the club rather than making a list at the start. The sole(prenominal) issue now for the trustees is to decide whether or not that someone is a good friend.

In Re Badens doing Trusts (No 2) [4] the court drew a...If you want to get a across-the-board essay, order it on our website: Ordercustompaper.com



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