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Trusts law > Express trust > Flashcards

Express trust Flashcards

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Civil Procedure 1L flashcards MBE flashcards MPRE flashcards
1
Q

Trust is valid if? (Knight v Knight 1840)

A

Certainty of words
Certainty of subject
Certainty of object

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2
Q

Unclear intention Jones v Lock 1865 (COI)

A

Must be certain settlor intended trust and must be clear from words intended for a binding obligation

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3
Q

Fixed trust?

A

Share or interest of each beneficiary specified in instrument creating trust
(£10k divided equally)

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4
Q

Discretionary trust?

A

settlor not indicated who is to get what but has given trustees discretion to decide

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5
Q

Three certainties?

A

Formalities
Constitution
Perpetuity

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6
Q

Knight v Knight

A

Payne left property to Thomas and male descendants
Thomas died without male heirs
Charlotte and Edward claimed property

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Trusts law (4 decks)

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