36 Questions
According to Milroy v Lord, what must the settlor do to transfer property and render the settlement binding?
Do everything necessary according to the nature of the property comprised in the settlement
Under what circumstances will equity not assist a volunteer, according to the Constitution and Equitable Maxims?
When there is lack of seriousness of intention
In the context of transferring shares, what is required for completion and delivery according to the Stock Transfer Act 1963 s. 1?
Sign and deliver the transfer forms to the company for registration
Under what circumstances would a conveyance of unregistered land be void for conveying or creating a legal estate?
Non-compliance with Land Property Act 1925 s. 52
Which rule states that equity will not perfect an imperfect gift, as in Jones v Lock?
The Every Effort Rule
What is required for transferring registered land under the Land Registration Act 1925 s. 19?
Transfer of registration by entering on the register the transferee as the proprietor of the estate transferred
What did Milroy v Lord establish regarding shares held upon trust for a beneficiary?
Shares must be transferred by registration in the name of the transferee in the company's books
"Equity will not assist a volunteer" is an equitable maxim related to which principle?
(as there should be seriousness of intention) Equity will not assist a volunteer.
What happens if shares were transferred on 30th March according to Re Rose (1952)?
No tax would be applicable
What is the primary purpose of the constitution of a trust?
To ensure that the trust property is vested in the trustees
In the context of constitution of a trust, what did the court hold in Jones v Lock?
Equity will not perfect an imperfect gift
What was the significance of the deceased's words in Paul v Constance?
They conveyed a present declaration that the existing fund was as much the plaintiff's as his own
In what situation would equity not treat a self-declaration of trust as valid, as per Jones v Lock?
When the settlor is one of several trustees
What did T Choithram International S. A v Pagarani Charitable foundation illustrate about settlors and trustees?
It showed that the settlor being one of several trustees is acceptable in all cases
What is the role of constituting a trust in assessing the seriousness of intention?
It provides evidence of the settlor's intention to create a trust
What is the purpose of constitution in a trust?
To provide evidence of the settlor’s intention
In which case did the court hold that equity will not perfect an imperfect gift?
Jones v Lock
What did the court conclude in the case of Paul v Constance regarding the declaration of trust?
The settlor effectively declared a trust in favor of the plaintiff
What does self-declaration of trusts refer to?
The settlor declaring himself as a trustee
What is one of the methods of constituting a trust during the settlor's lifetime (Inter vivos)?
Declaring oneself as a trustee
According to T Choithram International S. A v Pagarani, what was the nature of the foundation established by the settlor?
Charitable foundation with multiple trustees
What are the three certainties required for an express trust to comply with?
Certainty of intention, certainty of subject, and certainty of object
In the creation of a trust, what does the trustee hold legal ownership of?
Trust property
What is the nature of a constructive trust?
Created by law
What is the key purpose of certainty of intention in the context of a trust?
Respects settlor
In a trust, what is the primary responsibility of the trustee regarding the trust property?
To manage it for the benefit of the beneficiary
What type of trust is established based on the intention of the settlor or testator?
Express trust
What was the outcome of the court in Jones v Lock regarding the alleged trust?
The court held that there was no valid trust as the father did not demonstrate intention to be a trustee.
According to the case of Paul v Constance, what did the words 'this money is as much mine as yours' demonstrate?
Intent to create a trust for Miss Paul.
What did the court hold in Sham Trust acts, as per Snook v London and West Ridings Investments Ltd?
The court found that the acts were intended to create legal rights different from their actual intentions.
According to Singha v Heer (2016), what is necessary to consider when using the word 'trust'?
The circumstances and context in which the word 'trust' is used.
What was the ruling in Midland Bank v Wyatt (1995) concerning the use of the word 'trust'?
The court found that there was not a valid trust despite using the word 'trust'.
What is meant by 'precatory words' as discussed in Lambe v Eames (1871)?
Words that express an intention or wish but are not legally binding.
What did Staden v Jones EWCA Civ 936 emphasize in assessing intention?
Considering all circumstances in order to assess intention.
What did Interpreting the trust instrument involve according to Re Steele's Wills Trusts [1948 ] Ch 603?
'Legal advice' based interpretation of the trust instrument.
What did Rowe v Prance demonstrate about beneficial interest?
Sole legal ownership may not imply sole beneficial interest.
Test your knowledge about the constitution and vesting of trust property in the context of the Law of Trusts and Equitable Remedies. Explore concepts such as the importance of constitution, transferring trust property, and modes of constituting a trust.
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