The document outlines several key duties of trustees:
1. The duty of fiduciary duty, which means trustees cannot benefit themselves from their position and must avoid conflicts of interest.
2. The duty to act in the best interests of beneficiaries and distribute trust property appropriately.
3. The duty to keep accurate accounts and provide beneficiaries with relevant information.
this contains provisions as to execution of decree and orders, provisions for execution of different orders, modes of execution by detention, arrest and attachment.
Validity of contingent and conditional bequests Utkarsh Kumar
Introduction – ‘Vest’ meaning and differences
Contingent Bequests
Conditional Bequests
Validity of conditions subsequent & forfeiture of bequest – with reference to S. 134
Defeasance clause – distinguished from repugnant clause
Conclusion
This extemporaneous slide show presentation features a compelling, comprehensive overview of injunctions as applied to common real property litigation disputes where monetary remedies presumably provide insufficient compensation; i.e. trespass violations.
this contains provisions as to execution of decree and orders, provisions for execution of different orders, modes of execution by detention, arrest and attachment.
Validity of contingent and conditional bequests Utkarsh Kumar
Introduction – ‘Vest’ meaning and differences
Contingent Bequests
Conditional Bequests
Validity of conditions subsequent & forfeiture of bequest – with reference to S. 134
Defeasance clause – distinguished from repugnant clause
Conclusion
This extemporaneous slide show presentation features a compelling, comprehensive overview of injunctions as applied to common real property litigation disputes where monetary remedies presumably provide insufficient compensation; i.e. trespass violations.
Code of civil procedure 1908 miscellaneous, interest,cost, exemption from app...Dr. Vikas Khakare
This contains miscellaneous provision like interest in suit, cost of suit, persons exempted for appearing in the court, caveat and inherent powers of court.
This is a comparative study on the concept of illegally obtained evidence between Malaysia, United Kingdom, United States of America and the concept from Islamic Perspective.
Question 1:
- Discuss the function and application of such form of punishment (reformatory) in Malaysia.
- Whether such form of punishment may tackle the issue of sentencing disparity.
Question 2:
- Discuss ‘illegal omission’ which may give rise to criminal liability.
This explains what are parties to a suit, who can be joined as party to suit. It explains joinder, misjoinder, nonjoinder of parties. How parties may be added or struck out.
Principles of Trust: Classification and CreationPreeti Sikder
Learning Outcome:
Students will :
-be informed about the major divisions among the concept of trust
-learn about the basic legal conditions a trust has to fulfill under Trusts Act, 1882
Code of civil procedure 1908 miscellaneous, interest,cost, exemption from app...Dr. Vikas Khakare
This contains miscellaneous provision like interest in suit, cost of suit, persons exempted for appearing in the court, caveat and inherent powers of court.
This is a comparative study on the concept of illegally obtained evidence between Malaysia, United Kingdom, United States of America and the concept from Islamic Perspective.
Question 1:
- Discuss the function and application of such form of punishment (reformatory) in Malaysia.
- Whether such form of punishment may tackle the issue of sentencing disparity.
Question 2:
- Discuss ‘illegal omission’ which may give rise to criminal liability.
This explains what are parties to a suit, who can be joined as party to suit. It explains joinder, misjoinder, nonjoinder of parties. How parties may be added or struck out.
Principles of Trust: Classification and CreationPreeti Sikder
Learning Outcome:
Students will :
-be informed about the major divisions among the concept of trust
-learn about the basic legal conditions a trust has to fulfill under Trusts Act, 1882
On 12th November 2014 Gordon Stuart presented at the Kruger Lowveld Chamber of Business and Tourism networking breakfast. The topic under discussion was “Trusts and Wills – ‘A legacy or Liability’ - Pitfalls in Estate planning.
Powerpoint presentationDeliverable Length 5 - 7 slides with .docxChantellPantoja184
Powerpoint presentation
Deliverable Length: 5 - 7 slides with speaker notes of 200 - 250 words per slide (excluding Title and Reference slides) APA FORMAT
You, as a HR Generalist, have been asked by your HR Director for your recommendations in terms of what tools your organization could use to better manage the talents of your employees. This will help to develop policies and procedures in managing your human capital. Please develop a PowerPoint presentation to your Director addressing the following:
· Describe and analyze the broad range of talent management efforts that use software applications to help you Director to make an educated decision.
· Give some examples of firms that have successfully used these applications.
· Describe how these efforts are useful in terms of strategic human capital management.
Page | 1
Plaintiff in Pro Se,
ClearChoice Community Services Inc.
2736 Lyndale Ave S Suit e202
Minneapolis MN 55408
Telephone No.9522220251
STATE OF MINNESOTA
DISTRICT COURT
County of Hennepin
Judicial District:
Court File number:
Case Type:
ClearChoice Community Services Inc.
Plaintiff Pro Se
V
Caskecla Investment
THEODORE J MEYERS
JOHN DOE I-XX, et al.
Defendants
PARTIES TO THE ACTION
1. Plaintiff Pro se, ClearChoice Community Services Inc. (herein referred as Borrower/Plaintiffs) all times relevant have resided at 4816 Nicollet Ave S Minneapolis MN 55419
2. Defendant Caskecla Investment (herein after refreed to as Lender) having its place of business at 8271 SE Sanctuary Drive, Hobe Sound FL 33455
3. Defendant THEODORE J. MEYERS having its place of business at 1755 St. Marys Street lcon Heights MN 55113
4. Any allegations about acts of any corporate or other business of Defendants means that the corporation or other business did the alleged acts through its officers, directors, employees, agents and/or representatives while they were acting within the actual or ostensible scope of their authority.
5. At all relevant times, each Defendant committed acts, caused or directed others to commit the acts, or permitted others to commit the acts alleged in this Complaint; additionally, some of the Defendants acted as the agent for other Defendants, and all of the Defendants in connivance with each other acted within the scope of their agency as if acting as the agent of another.
6. Knowing or realizing that other Defendants were engaging in or planning to engage in unlawful conduct, each Defendant nevertheless cilitated the commission of those unlawful acts.
7. Each Defendant intended to and did encourage, cilitate or assist in the commission of the unlawful acts, and thereby aided and abetted the other Defendants in the unlawful conduct.
I. CTUAL BACKGROUND:
(a) In the present case, the Deed of Trust for the Property listed the borrower, as "ClearChoice Community Services Inc.," and listed the Lender, as "Caskecla Investment, “ The Caskecla Investment, was renamed Caskecla Investment and later on was clo.
Client presentation on the benefits of a SMSF and the process for a SMSF to use the borrowing rules to invest in property. Includes the different ways of getting property into a fund and how to finance them.
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on the issue of UNIFORM MARRIAGE AGE of men and women.
1. Chapter 3: Dutiesof Trustees
1. Fiduciaryduty.
2. Duty of trustee uponappointment.
3. Duty to distribute.
4. Duty to act inthe bestinterestof the BNFinall matters.
5. Duty to keepaccounts.
6. Duty to provide information tothe beneficiaries.
7. Duty to invest.
Fiduciary duty (companydirectors, trustees& secretprofit)
A trustee havingafiduciarydutytowardsthe beneficiariesisnot permittedtoreceive anybenefit
fromhis positionasa trustee.
That positionisone of personal confidence towardsthe beneficiaries.
The dutieshe owestothe beneficiaries,must notinanywaybe permittedto come intoconflictwith
hispersonal interest,andif he doso,he will be liable toaccountto the beneficiariesforanyprofit
made by him.
Brav V Ford(1896), Lord Herschell:
"It isan inflexible rule of aCourtOf Equitythata personina fiduciaryposition, isnotunless
otherwise expresslyprovided,entitledtomake aprofit,he isnot allowedtoputhimself inaposition
where hisinterestandhisdutyconflict."
1. Company directors
Who are ina fiduciary positiontowards itsmembers(shareholders)
2. Trustees
A trustee mustnotallowhisinterestanddutiesconflict
KeechV Sanford:
Involvesthe renewal of alease where amarketlease wasbequeathed byatestatorto a trustee to
holdforan infant.Before the expirationof the lease the trustee appliedfora renewal onbehalf of
the trust and wasrefusedsucha grant, the lessorsaidthe grant wouldonly be made if the trustee
heldthe lease beneficially.The trusteeapplied forandreceivedsuchagrant forhisown benefitbut
it washeldthathe wasa trustee forthe infantandwas liable toaccountfor all the profits.
As Lord KingLC said:
"One mustconsiderthisas a trust forthe infant,forIverywell see if atrustee,onthe refusal to
renew,mighthave alease forhimself,few trustestate would be renewedtoa cqt.Though one do
not saythere isa fraudin thiscase,yethe (the trustee) should have letitrunoutthan to have had
the lease tohimself.This mayseemhardthatthe trustee isthe only personof all mankindwho
mightnot have the lease,butitisveryproperthat the rule should be strictlypursued,andnotinthe
leastrelaxed;foritisobviouswhat wouldbe the consequencesof lettingtrusteeshave the leaseon
refusal torenewtothe cqt"
The above rule whichappearsto be harsh isintendedtoprevent apossibleconflictbetweeninterest
and dutyon the part of the trustee.
2. 3. Secretprofit(Purchase of trust property,director'sfees,competition&misuse of opportunities
and information)
A trustee mustnottake any secretprofitfromhisposition asa trustee unlessthese have been
authorisedbythe trust instrument,orbythe beneficiariesif theyare sui juris, orbythe court. Profits
usuallyarisesinthese situations:
a) Director’sfee
Trusteesmayfindthatthe trustestate comprisedseveral shareholdingsinpubliccompaniesor
familycompanies.
In suchcircumstancesitmay be necessaryforthe trustees toappointone of the co-trustees asa
directorof the companies concernedtoensure thatthe interestsof the trustare protected.
If any director'sfeesare receivedbya director-trustee,thenthey are subjectedtothe general
rule that the trustee must notprofitfromhistrust
Re Macadam (1946)
The trusteeshada powertoappoint2 directorstoa company in whichthe trust hada
substantial shareholding.The trustees appointed2of theirnumberas directorsandthe issue
arose whetherthese trusteescouldretainthe directorsfeesreceived bythem.- The courtheld
that theywere-liable toaccount.
CohenJ held:
Since the opportunitytoreceive the feeswasgained asa resultthe excise of adiscretionvested
inthe trustees, andtheyhadputthemselves inapositionwhere theirinterest andduty
conflicted,thereforethe courtcannotallow themto make a profitoutof doingso.
b) Competition
A trustee maybe liable toaccount for profitsmade byhimwhere he entersintocompetition
witha businessbelongingtothe trust
IDC V Cooley
Re Thompson(1930)
c) Misuse of Opportunitiesandinformation
A trustee mayinthe course of histrusteeshipbe offeredthe opportunitytoacquire propertyfor
the benefitof the trust,forexample,sharesorlandatlessthan marketvalue
BoardmanV Phipps
If the trusteestakesthese profits,he willbe liable toaccount for the propertysoacquiredplus
any profitsthereon. The positionissimilarwhere he misusesinformation
3. d) Purchase of trust property
General rule:A trustee cannotpurchase trustpropertyfor himself (self-dealingrule)
If a trustee purchasestrustpropertyhe can abuse hisposition andbuyat lessthanthe bestprice
obtainable.
Similarlyif he sellstothe trusthe maybe able todemandtoo higha price.
The effectof such a purchase that the transactionisvoidable atthe instance of anyinterested
beneficiary,nomatterhowfair,openandhonestitmay have been.
The self-dealingrule isverystrictwhere trustee are concerned,sothat there mustbe no
possibilityof the trustee totake advantage of his position,whetherhe doestake advantage or
not.
WriehtV Morean
a trustee whohad resigned,purchasedtrustpropertyat a price that had beenfixedby
independentvaluers.One mighthave thoughtthatnotevena possibilityof conflict of interest
arose here.But howeverasthe arrangements beenmade whilehe wasstill atrustee
PrivyCouncil:thissale mustbe setaside.
Duty of trustee uponappointment.
Where a trustee acceptsan appointmenthe must:
a) Acquainthimselfwiththe termsof the trustinstrument
b) Inspectthe trust instrument
c) Ensure the trustee propertyistransferredintotheirnamesandintheircontrol
d) Investigate anypriorbreachof trust bythe retired/removedtrustee/sandmusttake action
to claimthe propertyor take legal actionif necessary.
Re Broden
A sumof moneyowedbycertainpersonstothe trust fund. The trustee didnotpress for payment.
Subsequentlythe debtorbecame bankruptanda claimcouldnotbe successfully made againsthim.
The newtrusteesbroughtan actionagainst the priortrustees.
The retiredtrusteeswere heldliable astheyshould have takenstepstoclaimthe moneyearlier.
Duty To Distribute
Duty to distribute mayoccurin3 circumstances:
a) Paymentof income toBNF or the capital share of one of several BNFwhohas fulfilledthe
contingenciesunderthe trust.
b) Distribution of the whole of the trustfundwhenall the BNFhave reachedfull age andare
absolutelyentitledtotrustpropertybetweenthemselves,as wasthe principle inSaundersV
Vautler
c) Distributionwhenthe trustisone for immediatedistribution inthe case of giftsundera will
or on intestacy
4. Trustee isunderdutyto distribute propertytothe personswhoare rightfullyentitledthereto:
a) Failure todo sowouldresultinBreachOf Trust (BOT)
EavesV Hickson:
The trusteeswere heldliable whentheymade paymentto wrongpersonsonthe faithof a
forgedmarriage certificate.
HilliardV Fulford:
The trusteeswere heldliable forerroneousbutbona-fide construction(ie interpretation) of
the trust deed.
b) Whenindoubt the trusteesshould:
Enquire (whichshouldbe the prudentandpreliminarystep)
Applytocourt for directions
Duty to Act in the Best interestofthe BNF in all matters.
a) Trusteesmustnotput theirowninterestbefore thoseof the beneficiaries
CowanV Scargill:
The trusteesrefusedtoapprove anannual investmentplanfor£200 unlesscertainclauses
were amendedwhichwouldhave the effectthatthe investmentwouldnotcompete with
the coal miningindustry.
The trusteeshere,were heldtobe furtheringthe interestof the coal miningindustryand
were notacting inthe bestinterest of the beneficiaries.
b) The duty to the beneficiariesisparamount,therefore the trusteesshould:
-Investinhighyieldingportfolios
-Puttheirownpersonal viewsaside
-The bestinterestof the beneficiariesare usuallytheirfinancial interest
c) Convertthe trust property
- Certaincircumstances,the trustee hastoconvertthe trust propertyintosomethingthat
will benefitnotonlyaparticularcqt butall the cqt
- For example if one of the trustpropertyisa house andone of the bnfsis stayinginthe
house then,JFthe trust instrumentallows,thenthe house be rentedoutandthe rent be
dividedequally.
Howe V Dartmouth:
Here there isa dutyto convertwhateverpropertyof the trustinto somethingvaluable for
the interestof the beneficiaries,subjectof course tothe trust instrument.
5. Duty to keepaccounts
A trustee hasa duty to keepaccountsandmaintainaccurate accounts of the trust property
Pearse V Green:
A trustee mustallowthe bnfsorhisSolicitorstoinspectthose accountswhenrequestedtodo so
Wroe V Seed:
A trustee whowas illiterateandthereforecouldnotkeepaccountshimself,wasjustifiedin
employinganagent tokeepaccounts
Section28 of TA:
Powerof trusteestoemployagentsforinstancetomaintain accounts.
Duty to Provide Informationto the beneficiaries
General Principle:
Trusteesare underdutyto provide informationrelatingto the trustfundto the beneficiaries
O'Rourke V Darbishire:
A beneficiaryhasaright of access to the documenthe desiresbecause theyare beneficiariestothe
trust
Re Marquessof Londonberry'sSettlement
Exception:
While the beneficiarieshave the righttoaccessto see the decisionsof the trustee,theymaynotbe
givenaccessto documentsthatrecordsthe reasonsfor the decision of the trustees,andespecially
so indiscretionarytrusts.
Re Marquessof Londonberry'sSettlement:
The trusteeswere todistribute the trustfundinsuchproportions astheythinkfit,butone of the
recipientscomplainedthatshe receivedtoolittle andtherefore wantedtoinspectall documents
whichwouldhave indicatedthe reasonwhichledthe trusteestodoas theydid.The court didnot
allowthe bnfstosee the reasons.
Duty to invest