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Equity and Trusts

Equity and Trusts. LG 4 Equity’s interventions. Implied trusts. Constructive trusts Fiduciaries Resulting trusts. Unconscionability. Activity 1 Scenario 1 Should equity intervene on the ground that Mr Rawlings was unconscionable? Agree/disagree. Unconscionability. Activity 1

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Equity and Trusts

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  1. Equity and Trusts LG 4 Equity’s interventions

  2. Implied trusts • Constructive trusts • Fiduciaries • Resulting trusts

  3. Unconscionability Activity 1 Scenario 1 Should equity intervene on the ground that Mr Rawlings was unconscionable? Agree/disagree

  4. Unconscionability Activity 1 Scenario 2 Should equity intervene on the ground that Mr Rawlings was unconscionable? Agree/disagree

  5. Unconscionability: Secret trusts Activity 2

  6. Unconscionability: Secret trusts Activity 2 Maxim: Equity will not allow statute to be used as an instrument of fraud

  7. (c) Constructive trusts (i) Family homes • Married couples and civil partners – Matrimonial Causes Act 1973 • MCA 1973 does not apply to others

  8. Of the 600 cohabitees questioned: • 88% had no written agreement about their share in their home • 60% thought they would get a share through being a ‘common law spouse’ British Social Attitudes Survey 2006

  9. Activity 3 • Lucy Is the court likely to impose a constructive trust on Fraser? Yes/no

  10. Activity 3 • José Is the court likely to impose a constructive trust on Gemma? Yes/no

  11. (d) Will equity intervene in all cases of unconscionability? Activity 4 “the court does not, as yet, …..exercise a general discretion to do what the man in the street, on a general overview of the case, might regard as fair” (Lord Dillon Springette v Defoe 1992)

  12. 2. Fiduciary duties

  13. 2. Fiduciary duties Best interests of the trust? My interests ££

  14. Fiduciary duties • Solicitors owe fiduciary duties to clients • Directors owe fiduciary duties to their companies • Senior employees owe fiduciary duties to their employers

  15. 3. Resulting trusts Activity 5

  16. What comes next? • Stage 2 starts with LG 5 • Formative assessment in WS 4

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