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Every trust must satisfy 3 certainties of intention, subject matter, and objects. it is very important that a trust satisfies the three certainties for two reasons:
-Trustees must know what their obligations are under the trust and they will be liable for breach of trust if they fail to carry out their obligations correctly. The three certainties therefore provide a trustee with a degree of protection by ensuring that their obligations are clear.
Satisfying the three certainties ensures that, if necessary the court itself will be able to administer the trust.
Trusts can be declared orally or in writing, while the three certainties apply to all but charitable trusts, you should remember that every trust will also have to satisfy the formalities requirements in respect of type the property involved. So, for example, a trust of land may satisfy the three certainties.However, if
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Every trust (with the exception of charitable trusts) must satisfy the certainty of object requirement. The certainty of objects test is different for fixed trusts and and discretionary trusts.
-Fixed trusts- the beneficial interests are fixed for, for example a trust to benefit two persons in equal shares.
Discretionary trust- this is a type of trust in which the trustees are given the power to appoint people as beneficiaries of the trust. Members of the class of potential beneficiaries do not hold any beneficial interest until trustees exercise their discretion to appoint in the beneficiaries favour . The amount the beneficiaries receive is at the discretion of the trustees.
Fixed trusts:in order to satisfy the certainty of objects requirement, a full list of the beneficiaries must be able to be created( IRC V Broadway Cottage Trust (1955), all the beneficiaries must be able to be identified.in this case all beneficiaries could be Identified so there is a fixed trust.
In the 1992 Syracuse Law Review, Robert L. Sweeny explicates some of the various terms that are necessary for real estate contracts to include. The author writes that it is essential in many real estate contracts for the property to either have no impediments or to provide insurance on these impediments in the form of an insurable title. The writer cites Stambovsky v. Ackley as a case that lacked this type of contact, which resulted in
Apart from the statutory obligations in the Trustees' Act, the court introduced the overarching duty of loyalty as the core
Justices Heydon and Crennan found that the intention should be determined by “the words used, not a subjective intention which may have existed but which cannot be extracted from those words.” They went on further to suggest that the “subjective intention is irrelevant both to the question of whether a trust exists and to the question of what its terms are.” Justices Heydon and Crennan made analogy between the form of intention required in express trusts with the intention of contracts, statutes and The Constitution, that is, they are all to be construed objectively.
Though there is no need for either party to use the word trust, the courts must be able to construe some sort of positive intent that the equitable interest was not to reside in the transferee. However Lord Millett later in Twinsectra Ltd denounces the emphasis previously placed on the party’s intent. Twinsectra involved a borrower seeking short term finance for the purchase of land and Lord Millett in this case states that Quistclose trusts are resulting trusts which arise by operation of law. His conclusion is based on the theory that resulting trust emerges when there is a transfer of property in circumstances in which the transferor did not intend to benefit the recipient. Carnworth J, however contends that from Twinsectra it seems that the parties place no real significance to the purpose so even applying Lord Millett’s newly configured resulting trust analysis, there is no real intent on the lenders part to ensure that the recipient does not receive the money at his free disposal. Furthermore, a key aspect of any intent to create a trust always revolves around the funds being held separately and so by devaluing this factor Lord Millett is detracting from traditional trust law principles and in the process is making it much easier to find a Quistclose trust in situations where it was never
In the play Doubt, by John Patrick Shanly, Sister Aloysius is treating Father Flynn unfairly. Sister Aloysius is the principal of St. Nichols School, who is suspicious and always doubt everyone, especially Father Flynn. She thinks that Father Flynn is guilty, but has no proof. Sister Aloysius doesn’t like Father Flynn in the school and his ideas. She treats him unfairly. Sister Aloysius treats Father Flynn unfairly when she still accuses Father Flynn of giving the altar wine to Donald Muller after Father Flynn tells her the truth. She treats him unfairly by forcing him to request the transfer without proving if Father Flynn is guilty or not and also makes him resign by lying about his past.
The Sound of a Voice by David Henry Hwang is a play that tells the story of two people embroiled in a love affair that is marked by secrets, emotional distance, dishonesty, and ultimately, tragedy. The two characters, a Japanese man and woman who are probably both in their fifties, fall in love but do not even reveal their names to each other. The nine acts of The Sound of a Voice are set entirely in the woman's home.
...ational Trust website also provides an online shop from which anyone can buy gifts as wide-ranging as farm products, cards and craft items.
In “The Fish” by Elizabeth Bishop, the narrator attempts to understand the relationship between humans and nature and finds herself concluding that they are intertwined due to humans’ underlying need to take away from nature, whether through the act of poetic imagination or through the exploitation and contamination of nature. Bishop’s view of nature changes from one where it is an unknown, mysterious, and fearful presence that is antagonistic, to one that characterizes nature as being resilient when faced against harm and often victimized by people. Mary Oliver’s poem also titled “The Fish” offers a response to Bishop’s idea that people are harming nature, by providing another reason as to why people are harming nature, which is due to how people are unable to view nature as something that exists and goes beyond the purpose of serving human needs and offers a different interpretation of the relationship between man and nature. Oliver believes that nature serves as subsidence for humans, both physically and spiritually. Unlike Bishop who finds peace through understanding her role in nature’s plight and acceptance at the merging between the natural and human worlds, Oliver finds that through the literal act of consuming nature can she obtain a form of empowerment that allows her to become one with nature.
Spirituals: African American spirituals are a key contribution to the creation of the initial genre of jazz. African Americans used spirituals during the earliest turmoil of slavery. These spirituals were used as songs to sing during labor and an initial way of communication for the Underground Railroad. These African American folk sounds mixed with gospel hymns were sun fused with instruments such as the harmonicas, banjos, and other instruments that could primarily be found. This initial form of the music started to separate itself from the gospel rendition. This mixture of different styles of music fused and gave birth to such things as minstrel shows, ragtime, and other forms of music. The most important that spirituals truly helped develop, was Jazz. Spirituals were the first true form of Negro expression in the form of music. Marshall W. Steams, Professor of English Literature at Hunter College states that “The spiritual was created out of nowhere by a sort of spontaneous combustion of Negro’s genius” (125). This mixture of hymns and instrumental instruction took form into one of the most versatile genres known to date, Jazz.
The principles of constitution of trusts are derived from the case of Milroy v Lord (1862 where turner L.J. stated that the complete constitution of a trust requires the actual transfer of property from the person making the gift to the beneficiary, a transfer of the intended gift to the trustees to be held in trust for the beneficiaries or the self-declaration of a trustee. The principle in this case is that a gift can only be enforced in equity if it satisfies one of the three requirements. Where the trust does not meet any of the three requirements the trust is considered an imperfect on incompletely constitutes trust. If the donor fails to complete all the formalities required by common law, then equity will not assist the intended beneficiary and thus the gift will be imperfect. The equitable maxim applicable is that equity will not complete an imperfect gift.
The structure of power in society is a vital part of understanding sociology. The two main theories that differentiate this structure are Mills’ theory of a power elite and Riesman’s contrasting theory of veto groups, or pluralism. Both theories are often found in varying degrees when considering important public decisions, such as the Hoover Redevelopment Plan or the University Village Plan. Generally, one of these theories is more applicable and relevant to certain public decisions and developments depending on the issue. While both of these theories played a part in the Hoover Redevelopment Plan and the University Village Plan, the power elite theory is ultimately more responsible for the institution of these developments.
The theme death has always played a crucial role in literature. Death surrounds us and our everyday life, something that we must adapt and accept. Whether it's on television or newspaper, you'll probably hear about the death of an individual or even a group. Most people have their own ideas and attitude towards it, but many consider this to be a tragic event due to many reasons. For those who suffered greatly from despair, living their life miserably and hopelessly, it could actually be a relief to them. Death affects not only you, but also those around you, while some people may stay unaffected depending on how they perceive it.
After establishing that this trust is a FST, one must again asses as to whether this trust fulfils all the requirements needed to become binding. Intention was established when Dan gave Ken the sealed envelope with the terms of the trust. Communication was proven when Ken and Dan had an oral conversation in regards to the terms of the trust, Communication was also proven as in Re Keen stated that envelope and letter stating the terms was seen as sufficient amount of communication. Finally acceptance was proven when Ken stated “you know you can rely on me”. Concluding that the FST is binding, and Joseph will indeed receive the trust.
Completely constituted trusts are segmented into executory and executed trusts. Executory trust is when a declaration or instrument requires the successive execution of further instruments while an executed trust is when the settlor has clearly and expressly stated what the interests of the beneficiaries are in the trust instrument. When a trust is not properly constituted, there will be no equitable proprietary interest for the beneficiaries. In such situations, the trust is enforceable under contract otherwise the beneficiaries are regarded as “volunteers”. A volunteer is a beneficiary who does not have valuable consideration for a promise or agreement for property to be transferred to him through trustees. Settlors must do everything within their power as necessary according to the nature of the property so that the settlement would be binding. There are three wa...
There are three basic essentials to the creation of contract which will be recognised and enforced by the courts. These are: contractual intention, agreement and consideration.