involving Trust laws - Case Study Example

Extract of sample
involving Trust laws

Although the law is dealing with the Property Act it also extends to other aspects of equitable interest. Under the Section 5 (1) of the Wills Act, 1988, “ it is seen that every person may dispose by will, executed in accordance with this Act, of all real estate and all personal estate owned by him at the time of his death” (Wills Act 1988. 2005). In this case it is seen that a trust has been created in favour of Ben and he has nominated Richard to hold the 2000 shares in trust on his behalf. Through his written will, he has directed that 950 of the above shares may be bequeathed to his Accountant, Tom, to be held on behalf of his nephew, Andrew, the legal beneficiary of the gifted shares. In the decided case of Goldcorpe RE 1995, 1 AC 74, claims for non allocated bullion could not be enforced. Ordinary members of the public were inveigled into investing in non-existent bullion, on the strength of allotment letters given to them for staking their claim on future bullion. When Company subsequently went into liquidation, they claimed beneficial interest on future bullion on the basis of this allotment letter. The Courts held that the bullions were not earmarked and could not be enforced.In another decided case of Saunders v. Vantier(1841) 4 Beav.115, a trust was created that upon the death of the uncle, certain shares would be bequeathed to the nephew, along with its incomes, till he reached the age of 25. The nephew laid claim to the gift upon reaching the age of majority, i.e., 21 years. ...Show more

Summary

The present paper "Case Study involving Trust laws" would deal with a particular case study in the field of law. Therefore, the paper would describe the information and background behind the case. Finally, the writer would form a conclusion, describing a summary of the process…
Author : johnpaul93
Save Your Time for More Important Things
Let us write a custom case study on your topic
"Case Study involving Trust laws"
with a personal 20% discount.
Find out more

Related Essays

company law, study case
In addition, relevant provisions in respect of allotment of shares have to be scrutinised. The Companies Act 2006, under section 171, requires directors to act as per the provisions of the constitution of their company. Moreover, directors have to exercise their powers only for the purposes for which these powers had been conferred on them.
19 pages (4750 words) Essay
Workplace Law Case Study
Workplace Law- Case Study The case states that no formal contract or agreement was signed between the employee, Jane Jones and the employer - T Total Mechanic Management Services Pty Ltd. However, according to Common Law, when any firm agrees to hire or employ an individual a contract of employment is said to have been made, regardless of whether it was formally signed or not.
4 pages (1000 words) Case Study
Equity and trust, Case Study. Case-Barclays Bank v Quistclose (1970) AC 567
The principle established in this case is the equity requiring that the person receiving a property from another person for a specific purpose cannot treat it as his or her own and should use it only for that specific purpose; also, the transferee cannot keep that property if that specific purpose cannot be fulfilled, as interpreted by Peter Gibson J 1 Thus, this landmark decision has led to the concept of Quistclose trust, which has become a form of trust as a way of protection to the lender 2.
6 pages (1500 words) Essay
Law Master Case Study
The paper says that the person sharing the shelter may sometimes pay the mortgage instalments or bear the expenses for the extended portion of the home. Sometimes the person may bear the household expenditure in lieu of the shared shelter on some understanding.
8 pages (2000 words) Case Study
COMPANY LAW / Case Study
At the beginning of the last year, the Articles of Association provided for payment of 15,000 to non-executive directors. However, through suitable amendments to the Articles, this figure was brought down to 10,000 nine months later. Since other directors have received 15,000 for the last year, Camilla is also demanding that the same amount be paid to her.
6 pages (1500 words) Case Study
Property Law Master Case Study
With the facts of the case given in the above cited case of Amy and Brian with regard to their purchased house in the name of Brian, hereto are the grounds for the claim of Amy in the aforesaid property to wit: Based on the decided case Lloyds Bank plc v Rosset1 of the House of Lords which re-affirmed the essential elements of the establishment of a constructive trust it stated that, "(1) That the parties must share a common intention to share the ownership of the land concerned which may be either expressed or implied from the conduct of the parties; (2) That the party claiming beneficial intention by way of a constructive trust must show proof that she significantly altered her position
4 pages (1000 words) Case Study
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT