Constitution of a Trust

Vicky Babs
Mind Map by , created over 6 years ago

Degree E&T Mind Map on Constitution of a Trust, created by Vicky Babs on 06/05/2013.

Vicky Babs
Created by Vicky Babs over 6 years ago
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Constitution of a Trust
1 Milroy v Lord - Turner LJ settlor must have done everything necessary to transfer
1.1 Re Rose - mitigates harshness of Milroy. Shares were out of his hands so he was a temp CTee
1.1.1 Pennington v Waine - Donor need not have done everything in their power if there is a continued intention to transfer Exceptions Re Ralli's WT - fortuitous constitution Strong v Bird Donationes Mortis Corsa Haliwell - Pennington leaves us 'in the realm of unfettered judicial discretion', 'very unruly beast' outcome was fair but bad law Garton - unconscionability aspect of Pennington keeps it in line with trust orthodoxy but courts must be careful not to 'grant judges an unfettered discretion to perfect imperfect transactions in an arbitrary and unprecedented fashion
1.1.2 Choithram - trust was fully constituted because he declared himself a trustee
1.2 Shares - Fill out the form, send it to the company, company registers new name
1.2.1 Confirmed in Re Fry
1.2.2 Confirmed more recently in Zeital
1.3 Land - Richard v Delbridge S53 formalities were not met here
1.4 Chattels - Re Cole, here words were not enough
1.5 Equitable Interests - Re McArdle no consideration so he was a volunteer

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