Flashcards
Equity and Trusts - Constitution and certainty
Flashcards do conjunto (25)
- 1What are the 3 certainties?1. Intention
2. Subject matter
3. Objects - 2case 3 certainties came from?Knight v knight
- 3Process for inter vivos gift?1. Mental capacity
2. 3 certainties
3. Formalities for transfer - 4Certainty of intention - case for precatory wording cannot be usedAdams v Kensington Vestry
- 5Certainty of subject - Case for Proportion of a tangible stock is too uncertainLondon wine company
- 6Certainty of subject - Case for Proportion of a intangible stock is certainHunter v Moss
- 7Certainty of Subject - Case to say 'the bulk of my residuary estate' is too uncertain?Palmer v simmonds
- 8Certainty of subject - Case for if there is a way to calculate 'a reasonable income' such as where someone had already been getting a steady income this can be sufficiently certain?Re Golay
- 9Certainty of Object - what is the test and case for a fixed trust?complete list test - IRC v Broadway cottages
- 10Certainty of Object - what is the test and case for a discretionary trust?'is or is not' test - McPhail v doulten
- 11Case which established conceptual certainty?Re Baden - a class of beneficiaries must be 'conceptually certain' to satisfy the is or is not test of McPhail v doulten
- 12What is conceptual certainty?It is a linguistic test which means a class will be conceptually certain when the description enables the class to be clearly identified
- 13What is the requirement for a 'complete list test?It must be possible to draw up a 'complete list of beneficiaries' - from IRC v Broadway Cottages
- 14Case which established the maxin 'Equity will not perfect an imperfect gift'?Milroy v Lord - relating to incomplete share transfers
- 15Case which established the maxin 'Equity will not assist a volunteer'?Richards v Delbridge
- 16What is the principle of Re Rose?The 'every effort' test - if the transforor has done everythng in their power to complete the transfer and all other matters rest in the hands of a third party
- 17What are the requirements of Strong v Bird?1. The donor intended an immediate gift of defined property
2. the intention remained unchanged until the donors death
3. The intended donee became the donors executer or personal representative - 18Case for unconscionable to retract a gift?Pennington v Waine - if transferor has done everything in their power and either changes their mind or there is a third party fault and it would be unconscionable to go back
- 19Case on 'administrative unworkability'?R v District Auditor ex P West Yorks Met CC
- 20DMC stands for?Donatio Mortis Causia
- 21Requirements for a donatio mortis Causia?1. Contemplation of death
2. Contingent on death
3. Actual or constructive delivery - 22Can a cheque come under a DMC?Nope!
The donors death terminates the banks authority to pay on it. If the cheque is paid before the bank is informed of the donors death and the account closed - in this case there would be a donatio of the money represented by the cheque rather than the cheque itself - 23Case which established a DMCCain v Moon
- 24Opinion Clause - pub landlord?Re Coxen
- 25Opinion clause - chief rabbiRe Tuck
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- post grad Equity and trusts FlashCards sobre Equity and Trusts - Constitution and certainty, criado por Robin Pearce em 30-05-2015.
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- Robin Pearce
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