Table of Contents

Preface Table of Cases Table of Statutes

1. Introduction

The Trust The Three Categories of Trusts

2. The Trust Compared with Some Other Concepts

Trust Debt Personal Representatives Partners Equitable Charge, Equitable Personal Obligation and Condition Subsequent Bailment Agency Mortgage Unincorporated Associations Company Directors Corporations Company Liquidators Trust Powers and Mere Powers Summary

3. Three Certainties Required for Creation of Express Trust

Certainty of Intention Certainty of Subject Matter Certainty of Objects Summary

4. Writing Requirements for Certain Types of Transactions

Section 23C(1)(a) of Conveyancing Act 1919 (NSW) Section 23C(1)(b) of Conveyancing Act 1919 (NSW) Section 23C(1)(c) of Conveyancing Act 1919 (NSW) The Principle in In re Schar Section 54A of Conveyancing Act 1919 (NSW) and Doctrine of Part Performance Section 23C of Conveyancing Act 1919 (NSW) and Adamson v Hayes Dispositions by Will Summary

5. Complete Constitution of Voluntary Trust

The Basic Principle Executory Trusts Particular Applications of Basic Principle Capacity to Create a Trust Summary

6. TRUSTEES: Duties, Liabilities, Powers, Rights, Appointment, Retirement and Removal

Duties of Trustees Liabilities of Trustees: Rights of Beneficiaries Powers of Trustees Rights of Trustees Appointment, Retirement and Removal of Trustees Summary

7. Charitable Trusts

Charitable Trusts are Trusts to Promote Charitable Purposes Categories of Charitable Trusts Trusts for the Relief of Poverty Trusts for Advancement of Education Trusts for Advancement of Religion Trusts for Other Purposes Beneficial to Public Statutory Modification of Fourth Category Statutory Severance of Non-Charitable Purposes from Charitable Purposes The Doctrine of Cy-près Statutory Cy-près Control of Public Collection and Disposition of Funds raised for Charitable and Other Public Purposes Lapse Summary

8. Resulting Trusts

Statement of Principle Presumption of Resulting Trust Presumption of Advancement (Presumption of Gift) Joint Bank Accounts between Purchasers and Volunteers The Enigmatic Episode of Tony Vandervell: Vandervell v Inland Revenue Commissioners Can a Trust be Created by the Transfer of a Bare Legal Estate? Resulting Trusts Precipitated by Transfer of Property in Trust for Illegal Purposes Summary

9. Constructive Trusts

Acquisition of Legal Title with Actual or Constructive Notice of Earlier Inconsistent Equitable Interest Property Acquired through Giving of Knowing Assistance to Another in Latter’s Breach of Fiduciary Duty Fiduciary’s Duty to Account for Unauthorised Gains Unconscionable Reliance on Legal Title Vendor as Conditional Constructive Trustee of Property under Contract of Sale Summary

10. Tracing

Tracing at Common Law Tracing in Equity Tracing and Romalpa Clauses No Tracing Where Agent a Mere Debtor Does Defence of Change of Position apply to Law of Tracing? Backward Tracing? Summary

11. The Rights of Life Tenant and Remainderman Regarding Income and Capital

Rule in Howe v Lord Dartmouth Apportionment Legislation Distinguishing Capital from Income: Company Shares and Pastoral Properties Burden of Loss or Expenditure to be Borne as between Capital and Income Rule in Allhusen v Whittell Summary

12. The Rule Against Perpetuities and the Rule Against Accumulations

Statement of Rule Against Perpetuities Statement of Rule Against Accumulations Summary


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