Equity and Trusts

Description

The word equity is one of the most ambiguous in the law. The aim of this course is to demystify the concept by focusing on the law of trusts and succession.

The course is divided into two parts. The first will consider the concept of equity, primarily by focusing on the law of trusts. The second will consider the law of succession and claims that can be made against a dead person’s estate.

The first part of the course will begin by considering the relationship between equity, equitable principles and the common law. We will review the history of equity and its development to the modern day before turning to the law of trusts. Particular attention will be paid to the question of what a trust is, the elements required to establish an express private trust, the issues surrounding sham trusts, the powers and duties of trustees, and the rights of beneficiaries. The course will also examine charitable, resulting and constructive trusts, and choses in action. The first part will conclude by exploring the remedies for breach of trust, including remedies against defaulting trustees and third parties, and the proprietary remedy that arises where misapplied trust assets can be traced into a defendant’s hands.

The second part of the course will turn to the law of succession and claims against deceased estates. We will begin with the law of intestacy and what happens when a person dies without a valid will. We will then move on to the alternative situation of death with a will, including examination of formal requirements for a will’s validity. This part of the course will also cover the failure of testamentary gifts and claims against a deceased person’s estate under several key statutes.

Throughout the course students will be encouraged to think about the way equity informs and influences the general law and its importance to both domestic and commercial spheres of life.