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Essay example - Equity and Trust Degree
Pages 4 (1004 words)
Abigail was aged 15 at the time Dominic died. Soon after Dominic's death Abigail discovered that she was allergic to horse hair and asked for 9,000 from the 16,000 to pay for sailing lessons instead. Tick agreed to this and gave her the 9,000 which Abigail immediately spent on a new wardrobe for herself…
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Tock had asked his friend George, a registered financial adviser, about Meltdown before they invested the money when they met at race meeting. George told Tock that all new companies came under investigation by the Fraud Squad and that Tock should not worry. The share value of the company dropped dramatically last month but Tock has told Tick that they are better off leaving the money invested in Meltdown Plc as the company is bound to make a profit sometime. Last week Tick and Tock were approached by Clarissa, a member of Oakley Riding Club, who has asked them for some money out of the trust fund to finance her proposed trip to the Olympic Show jumping finals. The trustees have told her that this is not possible due to the current low value of the trust fund.
The will appointed them as trustees of Mr. Dominic fund which they are entrusted to distribute to the parties provided in the will following the probate words. For the case of Abigail, this is a fixed trust where they were to give her 16,000 'so that she can learn how to ride'. ...
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