Personal claims against trustees Flashcards
1
Q
Defences available to trustees
A
- exemption clause in trust deed
- knowledge and consent of beneficiaries
- s.61 TA (court excuses him if he acted honestly + reasonably and ought fairly to be excused)
- limitation (6 year from breach)
- laches (C knew of breach, delayed taking action, and this caused prejudice to trustee)
2
Q
When can a trustee obtain a full indemnity from a co-trustee? (4 cases)
A
- acted in fraud, while others in good faith,
- it’s a solicitor who had controlling influence,
- benefitted personally from the breach, or
- is also a beneficiary and benefitted from the breach