An equity unit investment trust is a publicly offered, pooled trust fund managed by an investment company. An express trust is one that is consciously set up by the settlor a resulting trust arises by operation of law i. Principles of equity and trusts kindle edition by alastair. Equity and trusts 2nd edition scott atkins routledge.
Professor graham virgo has created a rigorous yet accessible student companion which draws the field in its contemporary context, offering a critical and insightful commentary on the law, its application, and development. All our titles are available in print and digital formats. Equity looks to the intent rather than to the form 5029 10. Jun 25, 2015 this principle means that equity will intervene to protect a right that is not enforceable at law due to a mere technicality in the law. History shows how equitys doctrines and remedies have evolved, revealing broad trends and. Arc resources for the principles of equity and trusts 3e. They offend the beneficiary principle which states that, for a trust to be valid, there must be ascertainable human beneficiaries, capable of enforcing it. Principle of equity is a body of legal doctrines and rules developed to enlarge, supplement, or override a narrow rigid system of law. It provides a clear, current and comprehensive account of the subject. Alastair hudson, understanding equity and trusts 2nd ed, cavendish, 2004 and to the newest practitioner text in england and wales geraint w thomas and alastair hudson,the law of trusts 1st ed. She is the author of several student texts on land law and also a short casebook on equity and trusts. By beginning with the core principles on which this field is based. They tend to illustrate the qualities of equity, in contrast to the common law, as a more flexible, responsive approach to the needs of the individual, inclined to take into account the parties conduct and worthiness. Tis all one as if they should make the standard for the measure we call a foot, a chancellors foot.
Equity and trusts flashcards decks in this class 10. Today, the trustee of a gun trust seeks to avoid merger so as not to run afoul of. Dec 01, 2014 1 title guarding against a trusts destruction by merger summary a trust is not a trust if the trustee alone holds legal title to the subject property and alone possesses the entire. It examines the nature of equity and the maxims of equity setting out the general principles clearly.
Equity and trustsintroduction to trusts wikibooks, open. The trustor had left his wife defendant and lived with the claimant. The authors clear writing style, plentiful explanations and focus on modern case law demystify difficult concepts and help to bring the subject to life. Equity and trustsintroduction wikibooks, open books for. This principle means that equity will intervene to protect a right that is not enforceable at law due to a mere technicality in the law. She has taught property law and family law for over twenty years, having previously qualified as a barrister. Guarding against a trusts destruction by merger jd supra. The principle of equity and trusts offers students a new approach to this dynamic area of law. Clarification on whether the quistclose trust should be recognized. Snells equity, an english treatise, takes the view that the maxims do not cover the whole ground, and moreover they overlap, one maxim contains by implication what belongs to another. Graham virgo explains the complex issues of trusts and equity with unparalleled clarity, offering a rigorous and insightful commentary on the law and its contemporary contexts.
Judith bray is a leader in law at the university of buckingham. There is a second reason for the law of trusts embodying the beneficiary principle. Equity and trusts is an ideal choice for all undergraduate and gdl students looking for a comprehensive yet accessible textbook on this complex area of law. He who comes into equity must come with clean hands 5015 7. Through clear and careful analysis, the author explains what the law is, its foundational principles, and its social and economic effect. Other articles where principle of equity is discussed. Introduction to trusts key points in this chapter we will be looking at.
Equity and trustsintroduction wikibooks, open books for an. Delay defeats equities, or, equity aids the vigilant and not the indolent. In the law of trusts the term doctrine of merger refers to the fusing of legal and equitable title in the event the same person becomes both the sole trustee and. Equity evolved naturally to ensure that justice is not a victim to common law and will continue to influence the law on a personal level without effecting the status quo for countless years to come. Guarding against a trusts destruction by merger charles e. The role of equity in developing secret trusts law equity essay. The aims of this book are to ensure that students understand and are able to assess critically. Most of our equity and trusts textbooks are on two or three year edition cycles so you and your students have access to the latest case law and developments. This fifth edition of principles of equity and trusts has been comprehensively updated and revised. Principles of equity and trusts is a concise new textbook from alastair hudson the author of the definitive classic, equity and trusts. Drawing on the authors collective 45 years of teaching experience, this text is carefully designed to cater to the needs of undergraduate law and juris doctor students approaching the law of equity and trusts for the. Equity and trusts 2nd edition scott atkins routledge book.
Expert interpretation of the rules of equity and how they can be applied in different situations provide you with. Equity and trusts in australia is a practical and engaging introduction to equitable and trust law in australia. In chapter 2 you saw how the concept of a trust involves split ownership. There is a large equity problem worth a total of 30 marks 2.
The law of trusts was constructed as an adjunct to the law of property, to tend to situations in which one person holds legal title to a property, but the courts decided it is fair, just or. Expert interpretation of the rules of equity and how they can be. Free equity and trusts law books download ebooks online. Learn vocabulary, terms, and more with flashcards, games, and other study tools. A trust is not a trust if the trustee alone holds legal title to the subject property and alone possesses the entire beneficialequitable interest. It also includes a foreword by the honourable justice geoffrey nettle of the australian high court.
Principles, practice and procedure by geoff lindsay sc, 25 november 2003 revised 20 september 2007 topic page i introduction 2 4 ii an historical perspective of equity 417 ii. Equity and trusts is a unique branch of english law based on a body of principles made by the courts of chancery, that focusses on bringing balance to the legal system, particularly the common law. Alastair hudsons equity and trusts is an ideal textbook for undergraduate courses on the law of trusts and equitable remedies. The concept of trust merger is a wellestablished legal principal. Case defining the principle that conduct can act as sufficient intention. Whatever i judge reasonable or unreasonable for another to do for me, that by the same judgment i declare. After the judicature act 1873, englands courts of equity and common law were merged, and equitable principles took precedence. Principles of equity and trusts 1st edition alastair. Generally, trusts for noncharitable purposes are void. Maxims of equity are not a rigid set of rules, but are, rather, general principles which can be deviated from in specific cases. Further discussion around debate on the doctrine of sham trusts in chapter 4.
Jul 05, 2012 the principle of equity and trusts offers students a new approach to this dynamic area of law. Money was in account under his name but had told paul that the money was as much his as it was hers. Key academic debates and the theoretical aspects of the subject are also considered throughout. The role of the courts of equity, sometimes referred to as the court of conscience is important in the development of secret trusts. The equity and trusts law collection on law trove is offered to individuals or institutions from. Ii a history of equity a introduction understanding the history of equity is an important guide to analysing its application in case law.
Core principles of equity and the law of trusts topic 2. History illustrates the values that shape equitys application and future development. W here the strict application of common law results in injustice or inappropriate remedy, courts adopt principle of equity to mitigate the rigour of the legislated laws and acts and to protect the. Maxims of equity are legal maxims that serve as a set of general principles or rules which are said to govern the way in which equity operates. The authors clear writing style, plentiful explanations and focus on modern case law demystify difficult concepts and help to. Introduction th e historical development of equity and the court of chancery th e maxims of equity th e development of the trust and why we need trusts th e anatomy of a trust th e terminology of trusts th e terminology of wills diff erent types of trust. The authors enthusiasm and expertise shine through, helping to bring to life an area of the law which students often find challenging. They may also fail for lack of certainty of objects, and for offending perpetuity rules. The text communicates the dynamic and thought provoking nature of this area of. Equity and trusts online flashcards by gabriela arboleda. The role of equity in developing secret trusts law equity. It includes a discussion of new developments in fiduciary obligations, express trusts, unconscionable dealing, constructive trusts, penalties. A trust is an obligation which binds a person or persons to deal with property for the benefit of beneficiaries or for a charitable purpose in accordance with the terms of the trust chetcuti cauchi advocates, no date.
Equity was faced with a peculiar problem in many secret trust cases. It assesses critically the application of those principles to factual circumstances. The case for promoting equity in developing countries 19 4. The fifth edition retains its original style of presenting principles and remedies relevant to equity and trusts in a straightforward and succinct manner, referencing uptodate cases and materials. Lord parker endorsed this strong version of the beneficiary principle when he. Laws2041 equity and trusts university of southampton. There is a large trusts problem worth a total of 30 marks 3. In jurisdictions following the english common law system, equity is the body of law which was developed in the english court of chancery and which is now administered concurrently with the common law for much of its history, the english common law was principally developed and administered in the central royal courts. Equity and trusts examines the origin of equity, and the principles associated with equity and trusts. Key academic debates and the theoretical aspects of the subject are also considered throughout equipping the student reader with an.