REMEDIES for breach of trust - proprietary

Question 1

when is it not approraite to seek remedy against trustee personally

Answer 1

1. trustee broke or lost
2. trsute owe money to others b4 benefi
3. trsutees actions gave them prop gone up in value

Question 2

if there is still leftoevr loss after propreiatry

Answer 2

can still sue trustee perosnally for their breach

Question 3

two methods of getting trust prop back

Answer 3

1. follwing an asset form peerosn to person
2. tracing an asset

Question 4

diffenrt type of tracing

Answer 4

1. unmixed claims
2. simple mixed claims
3. simple mixed bank acc claims

Question 5

unmixed claims

Answer 5

trsut prop has been substituted an only trust money was used - e.g. car bought with trust funds

Question 6

unmixed claims case

Answer 6

re hallet
- - gives the beneficiary the right to elect either
- 1. take prop purcahsed w funds
- 2. to hold it as a secuirty for the amount of trust money paid put in purcahse

Question 7

howveer under hallet if property has..

Answer 7

• increased in value, benefiicary can claim full right
• decreased, take as a secuirty, take charge to value

Question 8

simple mixed claims and case

Answer 8

trsutee mixed trsut prop with their own
fosket v mckeown
- take a charge and trustees must meet short fall (desriable if val decreasing)
- take proportinate share of the asset ( desriable if val increasing)

Question 9

simple mixed bank accout claism cases

Answer 9

claytons - first in, first out
hallet - trustee acting honetsly, spend own $ first
oatway - order of withdralw isirrevelnat, tracing done against trustee
roscoe v winder - lowest intermeidte balance rule, cant trace obliagtion to $ LATER DEPOSITED SPERATE FROM TRUST, you also cannot trace into debt