Final ultimate Flashcards
Professor Maitland’s thoughts on Trust
greatest achievement performed by an Englishmen
John Selden, 1689 thoughts on equity
Selden compares this to using a Chancellor’s foot as a measurement standard — some have long feet, others short, meaning there is no fixed measure for equity.
Modern Contributions of Equity in Exclusive Jurisdicition
new things that is not available anywhere else
Such as trusts and succession law
Modern Contributions of Equity in Concurrent Jurisdiction
compliments common law
specific performance
rescission
rectification
injunctions
Modern Contributions of Equity in Auxiliary Jurisdiction
legal procedures to assist the administration of justice
Writ of subpoena
Interrogatories
The Statute of Quia Emptores (1290)
allowed land to be transferred without feudal obligations, further solidifying the concept of trusts
Dod v Chyttenden (1502)
Walmsley J describe the medieval “use” - An abstract idea tied to the trustee’s consciousness
The Statute of Uses 1535 was enacted to:
Prevent the avoidance of feudal dues through the use.
to abolish the use of use
Equity’s Darling
refers to the bona fide purchaser for valuable consideration of legal title without notice of the trust
Cook v Fountain (1676)
Lord Nottingham made turning in history of equity
Equity is based on legal principles and rules, not on moral discretion.
List the people who support substantive fusion
Sir George Jessel MR (1881) - Now, there is one unified legal system where equity rules prevail in conflicts.
Lord Diplock (1977) - Ashburner’s metaphor criticized by Lord Diplock. The distinction between law and equity is misleading and no longer relevant
Lord Denning (1973) - after 100 years, both systems operating as one cohesive body of law
List the people who support administrative fusion only
Ashburner’s Metaphor (1933) - The two streams of jurisdiction… run side by side and do not mingle their waters.
Lord Selbourne LC (1873) - distinctions between legal and equitable estates are necessary for trust law to function properly.
Medforth v Blake [2000]
Richard Scott VC
* The distinction between common law duties and equitable duties is irrelevant in practice
Lord Dudley v Lady Dudley [1705]
Equity is a moral virtue, not part of common law
It softens the harshness and rigidity of legal rules
Earl of Oxford’s Case [1615]
Ellesmere LC:
General laws will inevitably fail to address unique circumstances
Milroy v Lord (1862)
trust constitution
Method 1: Self-declaration of trust
Method 2: Transferring property to trustee
Re Rose [1952]
Every Effort Rule
T Choithram International SA v Pagarani [2001]
Self-Declaration of Trust by a Settlor
The court ruled that equity will not allow a trust to fail for want of a trustee.
Re Cook [1948] Ch 212
the wife’s legal and equitable interests merged, leaving her with absolute ownership of the land
Re Bowden [1936] Ch 71 per Bennett J.
Once the trust is created, the settlor (in that capacity) loses all
control or interest in the property.
Saunders v Vautier
A beneficiary with an absolute interest can demand trust property before the specified period if they are competent to give a valid discharge.
s 53(1)(b), Law of Property Act 1925
Creating a trust over land or an interest therein must be in writing and signed.
s 53(1)(c), Law of Property Act 1925
The transfer of an existing equitable interest or trust must be in writing and signed by the person disposing of the interest
Section 53(2) of the Law of Property Act 1925
the requirement for writing in Section 53(1) does not apply to the creation or operation of resulting, implied, or constructive trusts.
s 52(1) LPA 1925
requires conveyances of land or any interest therein to be made by deed.
