Trusts

Question 1

Recognition of trusts act 1987

Answer 1

Defines what a trusts is

legal relationship - created inter vivos or on death [testamentary] - by a person, the settlor [or testator/testatrix], when assets have been placed under the control of a trustee for the benefit of a beneficiary on for a specified purpose”

Question 2

Law of property act 1925, s.1

Answer 2

Minors cannot create a valid trusts!! No minor settlors

Question 3

Law of property act 1969, s,1(6)

Answer 3

A minor cannot create a valid trusts!!

Question 4

Mental capacity act 2005

Answer 4

A person lacks capacity in relation to a matter if a material time he is unable to make a decision himself in relation to the matter of impairment of or a disturbance in the functioning of his mind or brain.

Question 5

Re Beaney 1978

Question 6

Morice v bishop of Durham

Answer 6

Defines beneficiary principle
“Every trusts must have a definite object, there must be somebody who is in favor the court can decree performance”

Question 7

Re Astor Settlement Trusts

Answer 7

Rule: purpose of trusts must be charitable only
Facts:

Question 8

Leahy v ag new gouth wales

Answer 8

Rule: purpose of trusts must be charitable only
Facts:

Question 9

S.3 charities act 2011

Question 10

S.2(1)(b) charities act 2011

Question 11

Re Hooper (1932)

Answer 11

Grave upkeep

Question 12

Re Hetherington

Answer 12

Public masses

Question 13

Re dean (1889)

Answer 13

Animal upkeep

Question 14

Re Thompson’s

Answer 14

Fox hunting