3: The Importance Of English Law Flashcards
What is “precedent”?
Precedent is a previous court decision or judgement which should be used to guide the court in future similar cases.
What is the main law governing trusts in England?
The relevant statute law includes, but is not limited to, the Trustee Act 2000 and the Trustee Act 1925.
What is a “purpose trust”?
A purpose trust is a trust in which the trustee holds the property in order to carry out a specific purpose.
What is a “trust instrument”?
It is the document which creates a legally binding trust arrangement and which sets out the terms of the trust.
What is the “perpetuity period”?
The perpetuity period is the time period within which future interests in the trust property must vest with one or more of the beneficiaries.
What is “statutory interpretation”?
Statutory interpretation is the interpretation given to statute by the courts developed from the previous decisions of courts.
What are the names of the four basic principles of statutory interpretation, commonly referred to as the four rules of interpretation?
- The literal rule;
- The golden rule;
- The mischief rule; and
- The contextual rule.
What is the “literal rule” of statutory interpretation?
The literal rule relies on the plain and ordinary meaning of the words contained within the statutory provisions.
What is the “golden rule” of statutory interpretation?
The golden rule allows for the judge to depart from the literal meaning of the statutory provisions if it would lead to an absurd result that is unlikely to have been the intention of the lawmakers.
What is the “mischief rule” of statutory interpretation?
The mischief rule seeks to ensure that the statute would be interpreted with regard to the true intent of its makers.
What is the “contrxtual rule” of statutory interpretation?
The contextual rule is that words should be interpreted in context. I.e. the purpose of the statute should be considered when interpreting the words within it.
What is the “ratio decidendi”?
The ratio decidendi of a case is any rule of law or legal principle that is treated by the judge as necessary for the basis of the decision made.
What is the “obiter dicta”?
The obiter dicta of a case are the words that are said ‘by the way’ and do not form a part of the ratio decidendi.
