The Effect Of Lack Of Certainty Law Equity Essay.
One of the principal requirements for the successful establishment of a trust is certainty, and in this instance, certainty of intention is relevant. Knight v Knight (1840) established that the “three certainties” must be present; certainty of intention, of subject matter, and of object.
The creation of a trusts.. Certainty as to the settlor’s intention to establish a formal trust of property; Generally speaking it is not necessary to create a trust in writing, and trusts do not even need to be declared orally. As a minimum pragmatism may intervene to ensure that a trust can be inferred from conduct of the settlor.
Sample Essay Questions Question 1. In order for a settlor to create a valid inter vivos trust of property he owns absolutely, it is necessary both to constitute the trust perfectly and to meet certain statutory requirements. Discuss. Answer Plan. Brief summary of the concept of a trust. The need for title to the trust property to be effectively conveyed to the trustee, if not already present.
Certainty Of Subject Matter Law Equity Essay. A trust relationship is where the legal title is owned by the trustee and the beneficial interest is held by the beneficiary (). A trust provides a legal owner to be able to deal with property for the benefit of those who cannot or do not want to deal with it.
Depending on how long the essay is those two sections should be fine. Remember to discuss in the first section whether foresight of virtual certainty is morally equivalent to wanting the thing to happen - if you don't think it is, then Woollin has not defined intention fairly.
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The question of the existence of the three certainties are also asked in the second situation to create a trust. I bequeath “in this situation may amount to certainty of words as Gloria may have intended to create a trust. Equity however look at intent rather than form of words used. The case of Re Codrington Agen shows this.