LAW4170 Trusts HD (89) Exam Notes

Description

Very detailed Trusts exam notes, containing full script, colour-coded cases and legislation, and counter-arguments based on cases. These notes enabled me to get an overall 89 HD for the subject. Topics covered: 1. Classification of trusts 2. Three certainties 3. Quistclose trusts 4. Charitable trusts 5. Formalities and constitution 6. Trustee duties: 6a. Duty to comply with the trust deed 6b. Duty to avoid conflicts of interest 6c. Duty to act personally 6d. Duty to get into trust assets 6e. Duty to act in the best interests of beneficiaries 6f. Duty to act prudently 6g. Duty to act impartially 6h. Duty to keep accounts and inform 6i. Duty to genuinely exercise power or discretion 6j. Formation of opinion on a matter of fact 7. Defences: 7a. Exclusion clauses 7b. Consent 7c. Section 67 - Acting honestly and reasonably 8. Rights of trustees: 8a. Right of indemnity 8b. Right to approach the court 9. Rights of beneficiaries: 9a. Right to call for trust property 9b. Right to remove a trustee 10. Variation of trust 11. Remedies 11a. Personal remedies (equitable compensation & account of profits) 11b. Proprietary remedies (constructive trust & equitable charge/lien)