Equity and Trust Law - Lectures 1 & 2

Equity and Trust Law - Lecture 1

• Equity's Aim: Equity aims to achieve fairness and justice in judgments, rather than just certainty.

• Historical Handling of Equity Cases: Equity cases were historically handled by the Chancellor, not common law judges.

• Equity's Precedence: Earl of Oxford Case (1615) established that equity prevails over common law in conflicts.

• Judicature Act: The Judicature Act (1873-1875) unified equity and common law under one court system.

• Equity Acts in Personam: The maxim "equity acts in personam" means equity focuses on the person, not just the property.

Equity and Trust Law - Lecture 2

• Maxim: Claimant Must Not Act Unfairly: A claimant must not have acted unfairly or improperly.

• Maxim: Delay Defeats Equity: Delay in seeking relief can be a bar to equity's intervention.

• Maxim: Clean Hands: A claimant must come to equity with clean hands, meaning not being implicated in wrongdoing.

• Maxim: Equity Follows the Law: Equity does not override common law unnecessarily, instead focusing on fairness, while also preserving the rules of common law.

• Unreasonable Delay Defeating Equity Claims: Cases like Comiskey v Bowring-Hanbury illustrate how unreasonable delays can defeat equity claims.

Equity and Trust Law - Lecture 3

• Trust Primary Purpose: The primary purpose of a trust is to manage property through a settlor, trustee, and beneficiary relationship to avoid taxation.

• Implied Trust Types: Resulting trusts and constructive trusts are implied trusts.

• Charitable vs. Private Trusts: Charitable trusts benefit the public, while private trusts benefit specific individuals.

• Equitable Interest in Trust Property: Cases like Walsh v Lonsdale confirm equitable interest in trust property rights.

• Trust Legislation: The Law of Property Act (1925) governs the formal requirements for trusts of land.

Equity and Trust Law - Lecture 4

• Power of Appointment: This is the authority to distribute property to others.

• Three Certainties: The three certainties required for a valid trust are words, subject matter, and object.

• Trusts and Intentions: Trusts are valid if the settlor's intentions are clear.

• Charitable Trusts: Cases like Re Coulthurst (1951) have clarified requirements of charitable trust.

• Property, Intention and Purpose: These are crucial elements for a valid trust.

Equity and Trust Law - Lecture 5

• Conveyance of Land: A signed, sealed, and delivered deeds is required for the conveyance of land.

• Sub-Trust Definition: A sub-trust occurs when a beneficiary holds property on trust for another beneficiary.

• Equitable Maxim Preventing Fraud: "Equity looks to substance, not form" prevents using statutory rules to commit fraud.

• Oral Trusts of Shares: Cases like Rochefoucauld v Boustead established that oral trusts for shares are valid provided there's a clear act/intention.

• Legislation Governing Formal Trusts: The Judicature Act (1873-1875), Statute of Frauds (1677), and Law of Property Act (1925) cover trusts of property, especially land.

Equity and Trust Law - Lecture 6

• Proprietary Estoppel Purpose: Proprietary estoppel primarily addresses situations where the unconscionable denial of rights occurs over land.

• Requirements for Proprietary Estoppel: Representation, Reliance, and Detriment are key requirements.

• Cases Establishing Key Principles: Taylor Fashions v Liverpool Victoria (1982) and Thorner v Major (2009) established and highlighted key principles of proprietary estoppel.

Equity and Trust Law - Lecture 7

• Wills Legislation: Wills are governed by the Wills Act (1837).

• Secret Trusts: Secret trusts avoid probate requirements and ensure the trust isn't made public, ensuring intentions are followed.

• Deathbed Gifts: Are conditional gifts made on death.

• Communication and Execution: Communication before a will’s execution is critical for secret trusts cases such as Rochefoucauld v Boustead (1897).

• Validity of Wills Requires Clear Intent: Trusts need clear intention to be valid.

Equity and Trust Law - Lecture 8

• Resulting Trusts: Resulting trusts occur when property's ownership defaults back to the settlor since the trust purpose is not achieved.

• Presumed Resulting Trusts: These trusts occur when property is held in a way that shows an unclear intention.

• Resulting Trust and Charitable Purposes: Cases show examples illustrating what to look out for regarding resulting trusts and charitable purposes.

Equity and Trust Law - Lecture 9

• Charitable Trusts Legislation: Charitable trusts, in England and Wales are governed by the Charities Act (2011).

• Categories of Charitable Trusts: Common categories include: relief of poverty, advancement of education, and promotion of religion.

• Charitable Purpose Criteria: Purpose needs to be for benefit of the community or public.

• Case Examples Illustrating Charitability: Relevant cases, such as Re Niyazi and Re Sanders' Will Trust, illustrate different aspects of charitable trust requirements.

Equity and Trust Law - Lecture 10

• Fiduciary Duties: Fiduciaries have a duty to act in their beneficiary's best interests.

• Breach of Fiduciary Duties: Breaches may lead to rescission, compensation, or account of profits. (Remedies)

• Constructive Trusts: Constructive trusts arise due to unjust enrichment, a common remedy.

• Trust Creation Certainty: Cases demonstrate circumstances for clear trust creation (e.g., Bannister v Bannister (1948) illustrates trust creation without formalities in equity.)

Equity and Trust Law - Lecture 11

• Constructive Trusts: Constructive trusts prevent unjust enrichment and often involve situations where parties' actions or agreements implied/create the trust/obligation.

• Cases Illustrating Constructive Trust Requirements: Cases like Hussey v Palmer (1972) and Rochefoucauld v Boustead (1897) demonstrate circumstances where constructive trusts could be applicable.

• Fiduciary Principle: Cases involving fiduciary relationships and breaches are covered.

Equity and Trust Law - Lecture 12

• Equitable Remedies: These remedies focus on ordering a party to fulfill/stop a specific act rather than on providing monetary compensation (e.g., freezing injunctions, specific performance).

• Equitable Remedies and Property: Equitable remedies for certain actions/misconduct affecting properties are mentioned.

• Purpose of Freezing Injunctions: Freezing injunctions prevent a party from dissipating assets before a judgment is issued.

• Cases Providing Examples of Equitable Remedies: Cases like Chappell v Times Newspapers (1975) illustrate examples of equitable relief.