This module will cover the following main areas of study:
(1) The nature of equity and the trust - Historical introduction - Equitable maxims - Basic classifications of express trusts and trusts implied by law
(2) Classification and validity of trusts powers, gifts and interests under a will - Capacity - Validity and interpretation of requests/clauses in a will - Identification of situations where a gift may fall - How interests pass under a will on intestacy (3) Charitable trusts - to understand how “regulation” and “regulators” operate in conjunction with the common law - Charitable heads - public benefit - operation of the Charity Commission
(4) Resulting trusts - theoretical basis - private purpose trusts - application in the Inland Revenue Cases - operation of the presumptions and equality considerations
(5) Constructive trusts - Operation in the domestic familial context (interests in the cohabitation) - Operation in the context of receipt of bribes and secret commissions
(6) Trutees powers and duties and breach of trust
-Dispositive powers under the Trustee Act (as distinct from powers of management/delegation) - Duties of care - Breach of duty, liability and defences - Relation to fiduciary duties
Learning Outcomes
By the end of the module students should be able to:
Demonstrate a comprehensive and accurate knowledge and understanding of the detail of equity and trusts law;
Produce a clear and accurate presentation of equity and trusts law directly from a wide variety of primary and secondary (including web based) sources, and apply techniques of legal interpretation and reasoning to complex issues arising within the module;
Analyse and research relevant legal materials, in particular statutes and case law, and offer informed critique based on wider reading and different perspectives;
Show an awareness of the relevant social, economic, historical and political contexts in which equity and trusts law operates;