Trusts and Equity

Law School

College of Arts and Law

Details

Code 18584

Level of study Third/Final year

Credit value 30

Semester 1 and 2

Module description

The nature of equity, the definition, nature and functions of a trust, the creation of express private trusts (inter vivos and testementary) including the three certainties, statutory formalities and completely and incompletely constituted trusts, implied, resulting and constructive trusts, purpose trusts and Charitable trusts. Co-ownership of land. Appointment, retirement and removal of trustees, remuneration of trustees, the general duty of care of trustees, specific powers and duties of trustees (investment, delegation, dispositive powers, maintenance and advancement), variation of trusts. Trusts of Land.

Equitable remedies including breach of trusts, the fiduciary duties of trustees, liability of strangers to a trust, tracing elements of restitution, personal and proprietary remedies of beneficiaries, defences.

The creation of trusts of land (express, resulting and constructive) types of co-ownership (joint tenancy and tenancy in common), severance of joint tenancies, the historical background to trusts of land, trusts for sale and strict settlements, the nature and administration of trusts of land, trusts of the family home in comparative context, proprietary estoppel.