The Ultimate Guide to Understanding Principles of Equity and Trusts

Are you curious to learn about the fascinating world of principles of equity and trusts? Look no further! This comprehensive guide will provide you with all the information you need to understand this crucial aspect of law.

What are Equity and Trusts?

When it comes to legal matters, equity and trusts play a significant role. Equity, in simple terms, refers to fairness and justice, and it functions as a complement to common law systems. Trusts, on the other hand, are legal arrangements in which a person or a group of people (known as trustees) hold assets for the benefit of another person or individuals (known as beneficiaries).

Equity and trusts go hand in hand, as equity often governs the creation and administration of trusts. Understanding the principles that underpin equity and trusts is essential for anyone studying law or involved in the legal profession.

Principles of Equity and Trusts

by Alastair Hudson (2nd Edition, Kindle Edition)

4 out of 5

Language	:	English
File size	:	4803 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	648 pages

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The Principles of Equity and Trusts

1. Fiduciary Duty

A key principle in equity and trusts is the concept of fiduciary duty. This duty requires trustees to act in the best interests of the beneficiaries, putting their needs above their own. Fiduciary duty ensures that trustees act with honesty, loyalty, and utmost care when managing the trust's assets.

2. Trusts for Charitable Purposes

Equity allows for the creation of trusts for charitable purposes. These trusts are established to benefit specific charitable causes, such as education, poverty relief, or medical research. The law recognizes the importance of supporting charitable activities and provides mechanisms to ensure that funds are used appropriately.

3. The Three Certainties

For a trust to be valid, it must fulfill the three certainties: certainty of intention, certainty of subject matter, and certainty of objects. These certainties ensure that the settlor's intentions are clear and that the trust has a valid purpose and identifiable beneficiaries.

4. Tracing and Following

Tracing and following are equitable remedies used when property or assets that form part of a trust have been misappropriated or transferred. The principle allows beneficiaries to follow the flow of money or assets and recover them, even if they have been mixed with other funds.

5. Remoteness of Vesting

The principle of remoteness of vesting refers to the length of time a trust can endure. Generally, equity imposes limits on how long a trust may continue in order to preserve a balance between the settlor's intentions and the societal interest in avoiding perpetual trusts.

Applications of Equity and Trusts

Equity and trusts find application in various areas of law, including:

1. Property Law: Equity provides remedies such as specific performance and injunctions in cases of breach of contract or non-compliance with property agreements.

2. Family Law: Trusts can be created to protect family assets or ensure an inheritance is passed down to future generations.

3. Commerce and Business: Equity allows for the creation of trusts, enabling businesses to separate legal ownership from beneficial ownership.

4. Charitable Work: Equity facilitates the establishment and administration of trusts for charitable causes, ensuring the funds are allocated appropriately.

Equity and trusts uphold fundamental principles that contribute to a fair and just legal system. Understanding these principles is vital for anyone working in the field of law, as they form the backbone of many legal scenarios regarding trusts, property, commerce, and charitable work. By grasping these concepts, you can navigate legal complexities with confidence and make informed decisions based on the principles of equity and trusts.

Principles of Equity and Trusts

by Alastair Hudson (2nd Edition, Kindle Edition)

4 out of 5

Language	:	English
File size	:	4803 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	648 pages

FREE

This is the second edition of Principles of Equity and Trusts , the concise new textbook from Alastair Hudson – the author of the definitive classic, Equity and Trusts. Through clear and careful analysis, the author explains what the law is, its foundational principles, and its social and economic effect. By beginning with the core principles on which this field is based, even the most complex academic debates concerning express, resulting and constructive trusts, the family home, charities law and other equitable doctrines become comprehensible and interesting. This book offers a fresh, lively and often humorous account of Equity and Trusts.

Through easy-to-follow worked examples and analysis of the case law, Alastair helps you to answer problem questions and to prepare coursework. The author shows how the law affects real people in real situations. Each chapter begins with a clear and concise to the core principles. It contains numbered headings for ease of navigation and advice on studying this subject. Students also have access to Professor Hudson’s ever-popular supporting website, which has had hundreds of thousands of hits over the years. It has over 50 brief podcasts on key issues which have been specially re-recorded to coincide with the publication of this book. That website also contains detailed lectures, a variety of videos explaining the law and guidance on tackling assessments.

Characterised by the passion and enthusiasm for his subject matter that make Alastair Hudson’s classic textbook so popular, Principles of Equity and Trusts is sure to be a winner with both academics and students alike.