Mindmap
TRUSTEE POWERS AND DUTIES
Mind map: Trustee powers and duties
Inhalt der Mindmap
TRUSTEE POWERS AND DUTIES
POWERS (discretionary)
- Maintanence
- Advancement
- Buy land
DUTIES (must be exercised)
- Fiduciary
- Good Faith
- No Profit
- OTHER UNAUTHORISED PROFITS
- Robinson v Pett - Administer gratuitously
- Boardman v Phipps - liable for profits although were honest
- Changes in the law
- Personal or Proprietary remedy?
- Lister v Stubbs - No proprietary basis therefore no proprietary remedy
- Reid departed from Stubbs - held on constructive trust for the crown. Templemen talks of 'good man theory' ands how bribery is an evil practice
- Sinclair - reverts back to stubbs. Reid received critiscim. Proprietry remedy is unncecessary as property was never owned by the principal in the firs
- European Ventures v Mankarious
- Neuberger's three categories (Sinclair) - no proprietary remedy unless falls under
- 1. Asset or money is or has been the property of the fiduciary principle
- 2. Trustee acquired money/asset by taking advantage of an opportunity that was properly that of the B
- 3. Other
- Neuberger's three categories (Sinclair) - no proprietary remedy unless falls under
- European Ventures v Mankarious
- Sinclair - reverts back to stubbs. Reid received critiscim. Proprietry remedy is unncecessary as property was never owned by the principal in the firs
- Reid departed from Stubbs - held on constructive trust for the crown. Templemen talks of 'good man theory' ands how bribery is an evil practice
- Lister v Stubbs - No proprietary basis therefore no proprietary remedy
- Personal or Proprietary remedy?
- SECRET BRIBES
- Huntingdon Cooper - he will be under a duty to account in equity
- Reading v AG - bribe money but Fiduciary was still liable to account
- Self dealing
- Titto v Wadell - transaction becomes voidable
- Wright v Morgan/Kane v Radley Kane/Moore - strict rule applied
- Ex Parte James - Beneficiaries informed consent
- Remedy? - let the transaction stand or avoid trasnaction
- Titto v Wadell - transaction becomes voidable
- OTHER UNAUTHORISED PROFITS
- No Conflict
- Bray v Ford - "Inflexible rule of equity" per Lord Herschell
- Keech v Sandford - Lord King - Too high a risk that position could be abused
- Not act for own benefit or 3rd party
- Skill and Care
- Trustee Act 2000 S1
- s3 and 4 apply to investment
- Instrument
- Fiduciary
Informationen
- Beschreibung
- Mindmap am TRUSTEE POWERS AND DUTIES, erstellt von reashton am 11/04/2013.
- Erstellt von
- reashton
- Aufrufe
- 139
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