This Equity and Trusts Law Textbook provides a thorough, up to date and practical review of the law of equity and trusts. It includes how lawyers become involved in advising on the creation and running of trusts, and how disputes between trustees, beneficiaries and third parties can be managed and resolved. further, Court of Chancery was prerogative court, with Lord Chancellor exercising discretion while acting as King's delegate: Common Law courts were hostile to this.

This is the simplest trust and gives all assets to the beneficiary as long as they’re 18 years old or over (in Ellesmere's death in 1617 and his replacement with Francis Bacon sought to foster better relations with the Common Law judges, preventing the open hostility from arising again. Thus even if the King James's ruling of 1616 would come to be seen as illegal, [42] the supremacy of Equity would eventually prevail when the different jurisdictions were amalgamated in the 19th Century into what today is are Senior Courts of England and Wales. [43] [44] Shift to Equity by rule [ edit ] The textbooks are used alongside other learning resources to prepare students not only for achievement of an academic qualification, but also for a future life in professional legal practice. Where an express trust fails for uncertainty of objects, an automatic resulting trust arises in favour Allows use of Common Law defence against basic primary equitable claim. Eg. If T breaches equitable duty of care not to be negligent, in managing investment fund, but beneficiaries are negligent as well, T might counter Bs' equitable claim with Common Law defence of contributory negligence.a b Baker, John (2019). An Introduction to English Legal History (5thed.). Oxford: OUP. p.105. ISBN 978-0-19-881261-6.

Where two parties want the same thing and the court can’t honestly decide who deserves it most they will leave it where it is Equitable Remedies Injunctions This compromise was successful in preserving a substantial amount of revenue through the late Tudor and early Stuart period. [note 5] [22] Fiscal feudalism would die, however, with the abolition of the Monarchy in the Commonwealth period, when feudal incidents were abolished, a measure that was confirmed during the Restoration in 1660. [23] History of the Use post-Statute of Uses [ edit ] Uses as conveyancing [ edit ]

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While the Statute of Uses ended the practice of creating uses as a means of creating valid wills of land, the Statute was not held to execute all Uses. This would serve as the birthplace of the trust. Some Uses had active duties the feoffees had to fulfill, such as managing an estate or collecting and distributing income, or paying debts. [26] These 'active' Uses could not be executed automatically by the Statute and were thus excluded. Amongst these, charitable uses were able to continue undisturbed, directly becoming what are now called charitable trusts when the nomenclature changed. Another category of Use that was excluded from the application of the Statute of 1536 was the "double Use" [27] or the 'Use upon a Use'. There were two main variations of this type of Use. Under the first, land owned by A would be conveyed to X 'to the use of X himself to the use of B.' Alternatively, A could convey to X 'to the use of Y to the use of B'. Under either of these arrangements the Statute would execute the initial Use (ie either X or Y would immediately stand seised to the use of B), but the second Use was not, allowing therefore for the creation of Uses of land so long as an intermediary was inserted before the intended beneficiary. [27] [28] The first reported case where this arrangement was enforced in Chancery was Bertie v Herenden. In that case the dowager Duchess of Suffolk had fled to Poland to avoid persecution as a protestant during the reign of Mary and had conveyed land to a lawyer 'to his use' but secretly on trust to be reconveyed to her. [27] lot of benefits accrue to charitable status. For instance, there are fiscal or tax advantages. These Lipkin Gorman v Karpnale Ltd, 1991: where third party receives misapplied trust money, why should she be at fault before she can be required to restore trust fund? This book is part of a series of 8 textbooks that have been specially designed to cover academic law for students converting to law. Published and updated regularly, these user-friendly study manuals are designed to help you successfully acquire knowledge and understanding of the foundational law of England & Wales.