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Year 5 > Certainties Of Trust > Flashcards

Certainties Of Trust Flashcards

1
Q

How many certainty are there?

A

Three

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2
Q

1.

A

Certainty of words( intention)

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3
Q

2.

A

Certainty of subject matter

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4
Q

3.

A

Certainty of object

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5
Q

CERTAINTY OF WORDS( INTENTION)

Are technical expression necessary for the creation of a trust?

A

No

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6
Q

What must the testator shoo?

A

The settlor or testator must have shown an intention to create a binding dirty to carry out his wishes and his words must show it

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7
Q

Will the use of precatory words create a trust?

A

No it won’t

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8
Q

Examples of precatory words?

A

Hope, wish, recommend, in full confidence

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9
Q

In earlier times do the court the courts of equity infer a trust a trust from precatory words?

A

Yes

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10
Q

Modern approach

A

Against it

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11
Q

Case?

A

Re Steele’s will Trust

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12
Q

What was held inter case?

A

Held that if a particular form of words creates a terabyte, then the use of the identical words today will also create a trust

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13
Q

Case?

A

Re Adams and Kensington vestry

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14
Q

What happened in the case?

A

The testator gave property to his wife ‘in full confidence that she will do what is right as to the disposal there of between my children’

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15
Q

What was held?

A

There was no trust in Favour of the children, and the wife took beneficially

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16
Q

CERTAINTY OF SUBJECT MATTER

This is considered two heads namely?

A

Certainty as to property

Certainty as to beneficial interest

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17
Q

Certainty as a property

The instrument creating the trust ?

A

Make it clear what property is to be bound by the trust

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18
Q

What happens where the property is not defined?

A

No trust is established

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19
Q

Case? Judge?

A

Mussoorie Bank v Raynor

Sir A Hobhouse

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20
Q

What happened ?

A

The testator gave property to his wife and directs that ‘such part of it as may not be required by her’ shall after her death, be held on trust for his children

21
Q

What did the court hold?

A

Held that the trust for the children was void for uncertainty

22
Q

Where the testator, after making an absolute gift to his wife, directed that at her death ‘such parts of my estate as she should have sold or disposed of’ should be held on trust for certain other persons?

A

There is uncertainty of property

23
Q

Case?

A

Re Jones

24
Q

Case?

A

Palmer v Simmonds

25
Q

What was held in the case?

A

Held that a declaration of trust as to ‘the bull of my residual you estate’ failed to create a trust

26
Q

Certainty as to beneficial interests

Must the beneficial interest to be taken by each beneficiary be certain?

A

Yes

27
Q

Case?

A

Boyce v Boyce

28
Q

What are the facts of the case?

A

A testator devised all his houses to trustees in trust for his wife for life and after her death in trust to convey one of them to his daughter Maria whichever she might choose, and to convey the others to his daughter Charlotte. Maria died in the testator’s lifetime and therefore was not able to choose any particular house

29
Q

What did the court hold?

A

The court held that Charlotte couldn’t claim since the beneficial interests were uncertain

30
Q

Exception?

A

Where the trustees are given a discretion as to the precise amount that each beneficiary is to receive

31
Q

Known as?

A

Discretionary trust

32
Q

The principle of certainty of beneficial interest is in which case?

A

Lassence v Tierney

33
Q

What is the principle?

A

Where property is given on trust for a principal beneficiary , subject to the rights of other beneficiaries to an uncertain part of the property, the uncertain trust will fail and the principle beneficiary will be entitled

34
Q

What will the court apply as to uncertainty ?

A

The maxim ‘ Equality is Equity’ and divide the property equally btw the beneficiaries

35
Q

CERTAINTY OF OBJECTS

What does this requirement mean?

A

Means that the identity of the beneficiaries must be described and indicated with certainty

36
Q

Will trust for vague purposes fail?

A

Yes

37
Q

Exception?

A

If the purpose are charitable

38
Q

Case?

A

Re Astor’s Settlement Trusts

39
Q

What was held?

A

A trust of a large fund for the purpose of ‘the maintenance of good understanding between nations’ and ‘the preservation of the integrity of newspapers’ was held void

40
Q

Is there a valid trust where property is given to a vague class of beneficiary such as ‘dependent’

A

No

41
Q

Why?

A

Because it isn’t possible to ascertain precisely which person would come within the definition of ‘dependent’

42
Q

Cases?

A

Re Ball

Sase v Moore

43
Q

What was held to be held on trust for?

A

Me

44
Q

What was necessary where the trustee is required to be able to ascertain all the members of a class of beneficiaries?

A

To be able to ascertain all the members of the class at the time the settlement came into effect

45
Q

Case?

A

I.R.C v Broadway Cottages Tfust

46
Q

Is this an old law?

A

Yes

47
Q

What is the new law?

A

Trust is valid if it can be said with certainty that any given individual is or is not a member of the class

48
Q

Case?

A

Mcphail v Doutton

Year 5 (12 decks)

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