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Air Jamaica Ltd V Charlton
''Air Jamaica Ltd v Charlton'' 999UKPC 20is an English trusts law case, concerning resulting trusts. In it Lord Millett expressed the view that a resulting trust arises because of the absence of intention to benefit a recipient of money. Facts Air Jamaica Ltd had set up a pension trust for the benefit of its employees, funded by contributions from its employees' salaries. When the company was privatised, J$400 million was left over in the pension fund. Clause 4 of the pension deed provided that ‘No moneys which at any time have been contributed by the Company under the terms hereof shall in any circumstances be repayable to the Company’. Air Jamaica Ltd wished to remove clause 4, and change clause 13.3 to say that surpluses would be held on trust for the company. The Judge held that clause 13.3 was void, going against the rule against perpetuity, and so the surplus passed on trust as ''bona vacantia'' to the Crown. The Court of Appeal held that the surplus should be dealt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judicial Committee Of The Privy Council
The Judicial Committee of the Privy Council (JCPC) is the highest court of appeal for the Crown Dependencies, the British Overseas Territories, some Commonwealth countries and a few institutions in the United Kingdom. Established on 14 August 1833 to hear appeals formerly heard by the King-in-Council, the Privy Council formerly acted as the court of last resort for the entire British Empire, other than for the United Kingdom itself.P. A. Howell, ''The Judicial Committee of the Privy Council, 1833–1876: Its Origins, Structure, and Development'', Cambridge, UK: Cambridge University Press, 1979 Formally a statutory committee of His Majesty's Most Honourable Privy Council, the Judicial Committee consists of senior judges who are Privy Councillors; they are predominantly Justices of the Supreme Court of the United Kingdom and senior judges from the Commonwealth of Nations. Although it is often simply referred to as the 'Privy Council', the Judicial Committee is only one cons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Appeal Of Jamaica
The judiciary of Jamaica is based on the judiciary of the United Kingdom. The courts are organized at four levels, with additional provision for appeal to the Judicial Committee of the Privy Council in London. The Court of Appeal is the highest appellate court. The Supreme Court has unlimited jurisdiction in all cases, and sits as the Circuit Court to try criminal cases. The Parish Court (formerly known as the Resident Magistrate's court) in each parish hears both criminal and civil cases, excluding grave offences. The Petty Sessions are held under Justices of the Peace, with power to hear minor crimes. Jamaica is a common law jurisdiction, in which precedents from English law and British Commonwealth tradition may be taken into account. Court of Appeal The Court of Appeal is the highest appellate court in Jamaica; it is superior to the Supreme Court. The Court is composed of a President and six other Judges. The Chief Justice is also a judge ''ex officio'' of the Court of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Trusts Law
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the Commonwealth and the United States. Trusts developed when claimants in property disputes were dissatisfied with the common law courts and petitioned the King for a just and equitable result. On the King's behalf, the Lord Chancellor developed a parallel justice system in the Court of Chancery, commonly referred as equity. Historically, trusts have mostly been used where people have left money in a will, or created family settlements, charities, or some types of business venture. After the Judicature Act 1873, England's courts of equity and common law were merged, and equitable principles took precedence. Today, trusts play an important role in financial investment, especially in unit trusts and in pension trusts (where trustees and fun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resulting Trusts
A resulting trust is an implied trust that comes into existence by operation of law, where property is transferred to someone who pays nothing for it; and then is implied to have held the property for benefit of another person. The trust property is said to "result" or jump back to the transferor (implied settlor). In this instance, the word 'result' means "in the result, remains with", or something similar to "revert" except that in the result the beneficial interest is held on trust for the settlor. Not all trusts whose beneficiary is also the settlor can be called resulting trusts. In common law systems, the resulting trust refers to a subset of trusts which have such outcome; express trusts which stipulate that the settlor is to be the beneficiary are not normally considered resulting trusts. Another understanding of resulting trusts could be an equitable instrument used to rectify and reverse unjust enrichment. The beneficial interest results in the settlor, or if the settlor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Air Jamaica Ltd
Air Jamaica was the national airline of Jamaica. It was owned and operated by Caribbean Airlines from May 2011 until the cessation of operations in 2015. Caribbean Airlines Limited, headquartered in Piarco, Trinidad and Tobago, had administrative offices for Air Jamaica located at Norman Manley International Airport in Kingston, Jamaica. The Jamaican government was formerly the owner of Air Jamaica. It sold the airline to Caribbean Airlines in 2011, which resulted in the Jamaican government owning 16% of Caribbean Airlines.2014 Investment Climate Statement: Jamaica United States Department of State (June 2014), p. 11. History According to |
Bona Vacantia
Unowned property includes tangible, physical things that are capable of being reduced to being property owned by a person but are not owned by anyone. ' (Latin for "ownerless goods") is a legal concept associated with the unowned property, which exists in various jurisdictions, with a consequently varying application, but with origins mostly in English law. Nearly every piece of land on the Earth is a property and has a maintainer (owner). The class of objects, "unowned things", are objects which are not yet property; either because it has been agreed by sovereign nations that no-one can own them, or because no person, or other entity, has made a claim of ownership. The most common unowned things are asteroids. The UN's Outer Space Treaty does not address the issue of private ownership of natural objects in space. All asteroids remain unowned things until some person or entity makes a claim of property right to one of them. In an experimental legal case of first impression, a law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resulting Trust
A resulting trust is an implied trust that comes into existence by operation of law, where property is transferred to someone who pays nothing for it; and then is implied to have held the property for benefit of another person. The trust property is said to "result" or jump back to the transferor (implied settlor). In this instance, the word 'result' means "in the result, remains with", or something similar to "revert" except that in the result the beneficial interest is held on trust for the settlor. Not all trusts whose beneficiary is also the settlor can be called resulting trusts. In common law systems, the resulting trust refers to a subset of trusts which have such outcome; express trusts which stipulate that the settlor is to be the beneficiary are not normally considered resulting trusts. Another understanding of resulting trusts could be an equitable instrument used to rectify and reverse unjust enrichment. The beneficial interest results in the settlor, or if the settlor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Re Vandervell No 2
''Re Vandervell Trustees Ltd (No 2)'' 974EWCA Civ 7is a leading English trusts law case, concerning resulting trusts. This was the third decision concerning Tony Vandervell's will. The first was ''Vandervell v Inland Revenue Commissioners'', where the House of Lords was concerned with whether an oral instruction to transfer an equitable interest in shares complied with the writing requirement under Law of Property Act 1925 section 53(1)(c), and so whether receipt of dividends was subject to tax. The second was '' In re Vandervell's Trusts'', which involved the Special Commissioner of the Inland Revenue's ability to amend tax assessments. Facts Tony Vandervell, a wealthy racing car manufacturer, was attempting to make a donation to the Royal College of Surgeons to establish a chair in his name. Since large donations were taxed at the time, he granted the College a number of shares in his company, and paid dividends on those shares, which the College (being a charity), would rece ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Imperial Group Pension Trust Ltd V Imperial Tobacco Ltd
''Imperial Group Pension Trust Ltd v Imperial Tobacco Ltd'' 9911 WLR 589 is an English trust law case, especially relevant for UK labour law and UK company law, concerning pension funds and the implementation of a poison pill. Facts The Imperial Tobacco pension trust committee asked the court whether the wording of rule 64A of the pension scheme could be varied with the company management’s consent. This said that members’ benefits ‘shall be increased by at least the lesser of’ 5% pa or the Retail Price Index. That provision was introduced following an amendment under rule 36 that said the committee could make amendment following the company management’s consent. Imperial Tobacco had been taken over by Hanson Trust plc, and the rule 64A was introduced as an apparent poison pill, because the previous position was that employees’ pensions were only updated ad hoc and usually below inflation. This accompanied the automatic closure of the existing scheme to new entrant ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
In Re A
IN, In or in may refer to: Places * India (country code IN) * Indiana, United States (postal code IN) * Ingolstadt, Germany (license plate code IN) * In, Russia, a town in the Jewish Autonomous Oblast Businesses and organizations * Independent Network, a UK-based political association * Indiana Northeastern Railroad (Association of American Railroads reporting mark) * Indian Navy, a part of the India military * Infantry, the branch of a military force that fights on foot * IN Groupe , the producer of French official documents * MAT Macedonian Airlines (IATA designator IN) * Nam Air (IATA designator IN) Science and technology * .in, the internet top-level domain of India * Inch (in), a unit of length * Indium, symbol In, a chemical element * Intelligent Network, a telecommunication network standard * Intra-nasal (insufflation), a method of administrating some medications and vaccines * Integrase, a retroviral enzyme Other uses * ''In'' (album), by the Outsiders, 1967 * In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vandervell V Inland Revenue Commissioners
''Vandervell v Inland Revenue Commissioners'' 9672 AC 291 is a leading English trusts law case, concerning resulting trusts. It demonstrates that the mere intention to not have a resulting trust (for example, to avoid taxes) does not make it so. This case was the first in a series of decisions involving Tony Vandervell's trusts and his tax liability. It concerned whether an oral instruction to transfer an equitable interest in shares complied with the writing requirement under Law of Property Act 1925, section 53(1)(c), and so whether receipt of dividends was subject to tax. The second was '' Re Vandervell Trustees Ltd'', which involved the Special Commissioner of the Inland Revenue's ability to amend tax assessments. The third was Re Vandervell Trustees Ltd (No 2), which concerned whether Vandervell could be taxed because he could have an equitable interest through a resulting trust if he had exercised an option right. Facts Tony Vandervell was a wealthy racing car manufacturer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Land Law
English land law is the law of real property in England and Wales. Because of its heavy historical and social significance, land is usually seen as the most important part of English property law. Ownership of land has its roots in the feudal system established by William the Conqueror after 1066, and with a gradually diminishing aristocratic presence, now sees a large number of owners playing in an active market for real estate. The modern law's sources derive from the old courts of common law and equity, along with legislation such as the Law of Property Act 1925, the Settled Land Act 1925, the Land Charges Act 1972, the Trusts of Land and Appointment of Trustees Act 1996 and the Land Registration Act 2002. At its core, English land law involves the acquisition, content and priority of rights and obligations among people with interests in land. Having a property right in land, as opposed to a contractual or some other personal right, matters because it creates privileges over ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
