Intention, Subject Matter, Formalities Flashcards
3 Certainties
KNIGHT v KNIGHT
Intention - Donor must have necessary Mental Capacity - Level increase with size of gift
RE BEANEY
Subject Matter - ‘Bulk of’ = Unclear
PALMER v SIMMONS
Subject Matter - Certain if settlor provides a Workable Formula - Reasonable Income
RE GOLAY
Subject Matter - Must segregate tangible items
RE LONDON WINE CO
Subject Matter - Need not segregate intangible items (shares)
HUNTER v MOSS
Self as Trustee - Intention ascertained by words / conduct
PAUL v CONSTANCE
Self as Trustee - Merely precatory words will not suffice
RE ADAMS AND KENSINGTON VESTRY
Transfer of Chattels;
(1) Physical delivery
(2) By deed
(1) RE COLE
(2) JAFFA v TAYLOR
Transfer of Equitable interest - s.53(1)(c) LPA’25
In writing - GREY v IRC
Signed by the person disposing of the interest / authorised agent or in a will
Defective Transfer - MILROY v LORD
Equity will not perfect an imperfect gift
Equity will not benefit a volunteer
Equity will no construe a trust from an invalid gift
DT Exceptions - STRONG v BIRD -On the death of the Donor, Donee can claim if…
(1) Transfer fails due to not satisfying formalities
(2) Intention to make an immediate gift - RE FREELAND
(3) Intention continues until death - RE GONIN
(4) Donee becomes Executor/PR/Admin
DT Exception - Every Effort Test
RE ROSE
DT Exception - Unconscionable to invalidate disposition
PENNINGTON v WAINE (extends RE ROSE)
DT Exception - Equity will not strive Officiously to defeat a gift - Interpret a trust instead - Transferor’s conscious is affected
CHOITHRAM v PAGARANI
