Personal claims against trustees Flashcards

1
Q

Defences available to trustees

A
  1. exemption clause in trust deed
  2. knowledge and consent of beneficiaries
  3. s.61 TA (court excuses him if he acted honestly + reasonably and ought fairly to be excused)
  4. limitation (6 year from breach)
  5. laches (C knew of breach, delayed taking action, and this caused prejudice to trustee)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

When can a trustee obtain a full indemnity from a co-trustee? (4 cases)

A
  1. acted in fraud, while others in good faith,
  2. it’s a solicitor who had controlling influence,
  3. benefitted personally from the breach, or
  4. is also a beneficiary and benefitted from the breach
How well did you know this?
1
Not at all
2
3
4
5
Perfectly