Equity and Trusts- Cy pres Flashcards
(104 cards)
what are w-e looking at?
This week look at adujuct 2 that law – chartib purpo- doctrine of cy pres.
where does cy pres come from?
Cy pres is a word comes form the French. And cy pres mean ?Means- as near as possible ]very useful doctrine which can help keep alive cpt’s where for some reason the cp which udneprines cpt has become impossible or impratcible for some reason to be carrired out, perhaps in change of cirumstances or environment or locality or partic organ .. Or cpt remebr not subject any shelf life or purporuuity rule-go o forver so some are 100yrs old.
so cp found what?
So have cp found very old fashion terms like money elft for my trustees to apply for the support … 1682 or to hosue – lang may be old fashioned-
so rather just let cpt?
so rather just let cpt fail the cy pres doctrine allows us to modernize update and bend the cp so as to eal with modern environment or update to make it work in modern context. Or in sit where prupose has become impractical or impossible to carry out bc of change in cirumstances.
what is this?
So tis quite an elastic doctrine cp – once estab valid cpt
not only can a trust what?
Not only can trust last forver but if purpose becomes outdated imposs or impratcial of performance bc change of cirmstances the cy pres doctrine allows trustees to draw up a schmee to make a new more modern proposed use of the money.
rather than make a trust fail?
Rather than make trust fail and money go on resulting trust. But scheme has to be approved by charity comm and If wont approve it, by charity tribunal or ultimately high ct.
cy pres exists?
But this cy pres exisits- cp once set up we can vary purpose to modernize them to make them capable of modern day pratical fulfillmet, where events time or cirucmtsances have perhaps over taken this and rendered the cp for some reason.
as orginally described?
As orginally described not quigte capable of performance and that could be for variety of reasons. But cy pres idea is trustees can bend cp or mdoernise it so money can still be applied for modern dayas near as poss. Equiv cp as orginally prescribed, so its very useful tjing to have.
so cpt stays alive and money didicATED?
So cpt stays alive and money dedicated to cp can be kept going and beign applied for modern day equiv cp. But need approval to bend and rshape purpose slightly according to modern day cirucms . Need approval from charity comm and trustees can draw up cy pres scheme.
this is another adavntage of having?
This si another advantage of having estavkusged a valid charitable trust- remebr 3 hurdles gotta show purpose falls within 1 of the 13 heads of chrit in s.3 charites atc 20011, 2nd must be suff pub ben in sense of suelfness and cross section of public ben- and 3rd exclusively charit- once 3 hurdles= cpt it can go on forever that’s why some very old no shelf life or purpotiy rule.
and if purpose becomes outloaded or imprac?
And if purpose becomes outloade or impratcble or out of date. The cy pres jurisc allows trustes, to bend and rshape and re define that prupsoe slightly with approval from charity commission so money can be applied for a modern day equiv charitable prupsoe.That best reopresnet swhat orginal testror intended 300 yrs ago / 20 yrs ago.
-so cy pres juris very useful when?
So cy pres jursid very useful means whne money deicated to charity- 3 hurdles, into world of charity and no going back, u can keep cy pres and bending purposes.
trust can what?
Trust can go on forvr and u can keep bedning to get u through. Once ur in that’s it. Keep cy pres.with approval of charity comm to keep that money ebign appled for chairtble purposes.
and as well see what?
And as well see the crucuial time to decide whether we have valid cpt certainly in context of wills is the time of death. Often people want to give money to trustees and aks them to apply for a chairble purpose set up cpt in will.
e.g ?
E.g die might aswell leave spend something worth while and if established cpt in way described have cpt fit 13 head public ben and 3rd exlcusive charible,
frinal q is at time of when?
the final q is at time of death , gotta see 3 hurdles crossed and if are valid ct. but that will for any take effect need to ET LETETRS OF PRIBATE NEED TO BE GRANTED BY CONTRY CT HGIHT CT- gives legal lif to will – elgal recogn and probate is always retoractive its backdated to tie testaior or testatrix death.
so q have to consider?
So q always have to consider with cpt set up in wills is as at time of tetsrs death assuming orbates been granted need prbate for legal life. Legal reocg.. Could be yr or 2 before q have to consider- where a reportrd charitbule trust or chartable gift is made as at time of tetsor or trix death.
could that cpt be fulf?
Could that chaerible prupsoe be fulfilled. And as well see if lets say we leave money to a charfitble orgnaisation so ligistor or school or for some cp but at time of death that isnittuion chartable isn’t
if at time of ur death prob?
religious order of nuns. If at time of ur detah rpbate is backdated. 2 months befprre that religious orders of nuns shut down or last nun died other cease to exist then u ahv at time of detah gift ti rder not deidictated to charity have what we call an INTIAL FAILURE. An dmonye would go on resulting trust back to estate unless, u can CY PRES IT AND Q HAVE TO BE CONSIDERED = CAN TO CYPRES TO BEND PRUPOSE
purpose simply incap?
– purpso simply incapable of beign fulfilled school or – can u cy prs. When nahve intis filure. U can cy prs it id it can be shown form will that ettsor ro trix had CPI- GENRNERALL CHARITBE INTENTIOn-
if we can show evidence of cpi?
if we can show evidence of cpi then we can drop cy pres schem and ask the chairt commission to allow money to be applied to anotjer relifg order down road with similar set up.If cant show cpi then intila failure will mran end of chairtble gift and money goes on resulting trust. If at time of death of testor or trix the relgiours orderwas in eixtsence and hsutodwn 2 weeks late.r then we don’t have intila failure we have subsequent failure; the key date is time of detah od testor or trix.
if order existed at time of death but?
If order eixtsed at time fo detah but shutdown 2 or 3 weks later we have subseuqnt failure and its much easier to cy pres it bc at time of detah gift was validly dedicated ot charity to a prupsoe trut or charitable insitiuon fos oem descriptn.a dnwe can just draw up scheme and give it to an equiv order without ned tog et ovr tht is order of showjng a cpi
bc time of death already?
. Bc time of detah already cross in world of charity. But at time of death if religious roder shut down 2 weeks before u got to wardrobe etc but not into anrni only way get thru is gecpi tog et into world of anrnina.
