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Questions and Answers
What is the significance of the case Re Adams in relation to trusts?
What is the significance of the case Re Adams in relation to trusts?
- The word 'trust' must be explicitly used to create a valid trust.
- Precatory words create legal obligations in a trust. (correct)
- Courts must construe words in each case but are bound by precedent.
- Intangible assets must be segregated in a trust.
Which case established that 'reasonable income' can be accepted as subject matter for a trust?
Which case established that 'reasonable income' can be accepted as subject matter for a trust?
- Pauler v Simmonds
- Hunter v Moss
- Re London Wine
- Re Golays (correct)
In which case was it established that intangible assets can be unsegregated in a trust?
In which case was it established that intangible assets can be unsegregated in a trust?
- Knight v Knight
- Hunter v Moss (correct)
- Re Adams
- Paul v Constance
What is required to establish a 'complete list' of beneficiaries in a fixed trust?
What is required to establish a 'complete list' of beneficiaries in a fixed trust?
In McPhail v Doulton, what test was introduced for discretionary trusts?
In McPhail v Doulton, what test was introduced for discretionary trusts?
Which principle from Re Barlows is applicable for gifts under GSCP?
Which principle from Re Barlows is applicable for gifts under GSCP?
In the case of Re Adams, what is the significance of precatory words in relation to creating legal obligations?
In the case of Re Adams, what is the significance of precatory words in relation to creating legal obligations?
Explain the concept of 'complete list' of beneficiaries in the context of fixed trusts.
Explain the concept of 'complete list' of beneficiaries in the context of fixed trusts.
What was the ruling in Hunter v Moss regarding the segregation of assets in a trust?
What was the ruling in Hunter v Moss regarding the segregation of assets in a trust?
When it comes to discretionary trusts, what test was introduced in McPhail v Doulton to ensure conceptual certainty?
When it comes to discretionary trusts, what test was introduced in McPhail v Doulton to ensure conceptual certainty?
How does the case of Re Golays contribute to the certainty of subject matter in trusts?
How does the case of Re Golays contribute to the certainty of subject matter in trusts?
Explain the requirement for administrative workability in discretionary trusts based on Ex parte West Yorkshire MCC.
Explain the requirement for administrative workability in discretionary trusts based on Ex parte West Yorkshire MCC.
What is the significance of Re Tucks in relation to defining the class of beneficiaries in trusts?
What is the significance of Re Tucks in relation to defining the class of beneficiaries in trusts?
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