Equity and Trusts
Module code: M3027
30 credits in autumn & spring teaching
Teaching method: Seminar, Lecture
Assessment modes: Unseen examination, Essay
This subject consists of two related parts:
- (a) key principles and concepts of equity and equitable remedies
- (b) the institution of the trust
The module aims to set Equity and Trusts in its social, economic and political contexts. It will consider the historical development of equity and the use of particular equitable remedies.
We will look at the institution of the trust, its formation and constitution, moving on to regard the idea of beneficial ownership. The nature of private and public purpose trusts and implied trusts is considered.
We also look at the duties, responsibilities and rights of the personnel involved in a trust relationship, and finally moving on to look at the liability for strangers to a trust.
Within this framework, the basic principles and theoretical underpinnings of the subject will be analysed.
Module learning outcomes
- Identify and describe the constituent components of a valid and enforceable trust
- Discuss and appraise the rights, responsibilities and obligations of trustees, fiduciaries and beneficiaries
- Recognise and explain the circumstances under which implied, resulting and constructive trusts arise
- Illustrate contemporary applications of the trust, e.g. public and private purpose trusts
- Employ relevant legal principles in the interpretation and solving of factual and hypothetical problem scenarios
- Evidence a critical understanding of the statutory and common law rules, their context, their application and any need for reform