Subject matter

Question 1

Express Trusts

Answer 1

Expressly set up by the settlor
Require the 3 Certainties
Formalities
Constutution

Question 2

Implied Trusts

Answer 2

Implied by the conduct of the parties

EXEMPT from formalities

Question 3

Resulting Trust

Answer 3

When it results back to the settlor

Question 4

Constructive

Answer 4

Imposed to prevent unconscionable conduct

Imposed by the courts

Question 5

Transfer on Trust

Answer 5

Declaration + constitution

3 different parties

Question 6

Self- declaration of trust

Answer 6

2 different parties

No constitution

Question 7

Successive interest trust

Answer 7

Life tenant - income

Remainder - capital

Question 8

Vested

Answer 8

Unconditional right to benefit

Question 9

Contingent

Answer 9

Right that depends on the occurance of an uncertain event

Question 10

What is the Saunders v Vautier rule?

Answer 10

Collapsing a trust

Question 11

Fixed trust

Answer 11

Settlor determines the benefit and size of each share

Question 12

Discretionary trust

Answer 12

Settlor defines the class and directs T to choose shares

Question 13

Power of appointment

Answer 13

Not compellable

Donor / Donee / Objects

Question 14

3 Certainties

Answer 14

Certainty of Intention
Certainty of Subject Matter
- trust property
- beneficial entitlements
Certainty of Objects

Question 15

Different words for certainty of intention

Answer 15

Precatory
+
Imperative

Question 16

What is the test for a Fixed Trust

Answer 16

Closed List Test

• conceptual certainty
• evidential certainty

Question 17

What is the test for a Discretionary Trust

Answer 17

Is/Is not test

Trust must be conceptually certain - capable of objective definition

Question 18

What must a Testamentary trust comply with?

Answer 18

Section 9 Wills Act 1837

• writing and signed by testator
• signature acknolwedged by 2 witnesses
• signed by witnesses

Question 19

Do trusts of land need to comply with formalities?

Answer 19

YES
LPA 1925 
S53 1b 
Evidential requirement of writing
If not - unenforceable

Question 20

Do dispositions of existing equitable interests need to comply with formalities?

Answer 20

YES
MUST be in writing.
If not - void

Question 21

Is there an exception to s53 1b?

Answer 21

Yes
Implied Trusts
s53 2 LPA