EQUITY
GLOSSARY OF TERMS................................................................4
Types of rights.............................................................................................................................................. 4
Specific equitable interests........................................................................................................................... 4
BASIC CONCEPTS OF EQUITY AND TRUSTS..................................5
Introduction to Equity................................................................................................................................... 5
Characteristics of Equity......................................................................................................................................5
Key historical moments........................................................................................................................................6
Equity’s relationship with the common law........................................................................................................6
Introduction to trusts.................................................................................................................................... 8
Parties to a trust...................................................................................................................................................9
Nature of a trust.................................................................................................................................................11
BENEFICIARIES’ BENEFITS AND THREE CERTAINTIES..................14
Beneficiaries’ Benefits................................................................................................................................. 14
Benefits conferred by Equity.............................................................................................................................15
Benefits conferred by settlors............................................................................................................................18
Three Certainties......................................................................................................................................... 20
Certainty of intention.........................................................................................................................................20
Certainty of subject matter................................................................................................................................23
Certainty of objects............................................................................................................................................27
Beneficiary principle................................................................................................................................... 31
Exceptions..........................................................................................................................................................32
Enforcer principle...............................................................................................................................................33
CONSTITUTION, FORMALITIES, RULE AGAINST PERPETUITIES.... .34
Constitution................................................................................................................................................ 34
Self-declaration as trustee.................................................................................................................................35
Transfer to another to hold on trust..................................................................................................................36
Directions to trustees.........................................................................................................................................40
Formalities.................................................................................................................................................. 41
Self-declaration of trust.....................................................................................................................................41
Signed by whom?...............................................................................................................................................42
Instrument of Fraud Principle............................................................................................................................43
Disposition.........................................................................................................................................................43
Declaration of sub-trust by equitable owner.....................................................................................................46
Rules on perpetuity..................................................................................................................................... 46
Rule against inalienability..................................................................................................................................47
Rule against remote vesting..............................................................................................................................47
BENEFICIARIES; ADMINISTRATIVE POWERS OF TRUSTEES..........50
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GLOSSARY OF TERMS................................................................4
Types of rights.............................................................................................................................................. 4
Specific equitable interests........................................................................................................................... 4
BASIC CONCEPTS OF EQUITY AND TRUSTS..................................5
Introduction to Equity................................................................................................................................... 5
Characteristics of Equity......................................................................................................................................5
Key historical moments........................................................................................................................................6
Equity’s relationship with the common law........................................................................................................6
Introduction to trusts.................................................................................................................................... 8
Parties to a trust...................................................................................................................................................9
Nature of a trust.................................................................................................................................................11
BENEFICIARIES’ BENEFITS AND THREE CERTAINTIES..................14
Beneficiaries’ Benefits................................................................................................................................. 14
Benefits conferred by Equity.............................................................................................................................15
Benefits conferred by settlors............................................................................................................................18
Three Certainties......................................................................................................................................... 20
Certainty of intention.........................................................................................................................................20
Certainty of subject matter................................................................................................................................23
Certainty of objects............................................................................................................................................27
Beneficiary principle................................................................................................................................... 31
Exceptions..........................................................................................................................................................32
Enforcer principle...............................................................................................................................................33
CONSTITUTION, FORMALITIES, RULE AGAINST PERPETUITIES.... .34
Constitution................................................................................................................................................ 34
Self-declaration as trustee.................................................................................................................................35
Transfer to another to hold on trust..................................................................................................................36
Directions to trustees.........................................................................................................................................40
Formalities.................................................................................................................................................. 41
Self-declaration of trust.....................................................................................................................................41
Signed by whom?...............................................................................................................................................42
Instrument of Fraud Principle............................................................................................................................43
Disposition.........................................................................................................................................................43
Declaration of sub-trust by equitable owner.....................................................................................................46
Rules on perpetuity..................................................................................................................................... 46
Rule against inalienability..................................................................................................................................47
Rule against remote vesting..............................................................................................................................47
BENEFICIARIES; ADMINISTRATIVE POWERS OF TRUSTEES..........50
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