Equity and Trusts - The Three Certainties
•Download as PPTX, PDF•
5 likes•1,696 views
This Slideshow contains information about the Three Certainties I studied in Equity and Trusts. The slideshow contains descriptive material along with case law to support the material.
Recommended
More Related Content
Viewers also liked
Viewers also liked (13)
Recently uploaded
Recently uploaded (20)
Equity and Trusts - The Three Certainties
- 2. The 3 Certainties • Knight v Knight (1840) 3 Beav. 171 • Lord Longdale MR identified 3 certainties • Certainty of Intention • Certainty of subject matter • Certainty of Objects
- 3. Why?? • ValidTrust • Distinguish from other concepts
- 5. Morice v Bishop of Durham (1804) •SirWilliamGrant MR ‘ ……..Every trust must have a definite object. There must be somebody in whose favour the court can decree performance’
- 6. Conceptual Certainty • Fundamental to a valid trust
- 7. Evidential Certainty • Identify with certainty
Editor's Notes
- Our presentation will be focusing on the certainty of objects.
- The 3 certainties were identified by Lord Longdale in the case of Knight and Knight He stated that if any of these 3 certainties were absent then a trust would fail.
- The need for certainty is to ensure that a trust can be adequately enforced and policed by the courts It also allows for trusts to be identified from other concepts
- Although there are certainties, our presentation will be focusing on the Certainty of Objects Objects are the beneficiaries of the trust. It is essential for a trust to be valid that it is for the benefit of human beneficiaries and that those beneficiaries are identifiable Only has to be able to define
- Without the certainty of who the trust is to benefit, it would be impossible to have a legally binding trust.
- The settlor’s description of the beneficiaries must be conceptually certain in a way that can be understood by the trustees and by the court The beneficiaries can be named individually or as a group, such as Bill and Ben or simple as to my children
- Whilst the beneficiaries of a trust my be conceptually certain, they must also be identifiable A trustee must be able to easily identify who is included and who is excluded
- Although it may be possible for the trustees to identify who is a beneficiary, it may not be possible for them to locate them.
- There are instances when, although the group is identifiable and conceptually certain, it is just too vast a number that it would be almost impossible for the trustees to realistically deal with. In determining whether or not a trust is void on grounds of administrative workability, we will look at the tests for certainty of objects in a discretionary trust.