Creation of express trusts Flashcards
Equity complements the common law.
It is a gloss on the common law, based on the productive paradox of two rival systems.
This is because where the set rules on common law encourage opportunism equity allows for ex post moral standards and may step in.
Smith
Three Certainties:
Certainty of intention
certainty of subject matter
certainty of objects
Knight v Knight, Lord Langdale
Three set of cases in which a benefitiary can receive
proprietary right in the property, though not a personal one against the trustee, although the trustee is ignorant to the transfer
1) intended trustee dies before settlor constitutes the trust
2) intended trustee is an office which is abolished before settlor constitutes the trust
3) intended trustee lacks capacity
what duties does a knowing trustee who has not consented to the trust owe
duty to preserve the trust property but is under no obligation to B to comply with trust duties
What is a trustee de son tort and what duty does he owe
A person who acts as if they were valid trustee but lacks the actual consent, position is the same as knowing trustee who has yet to consent