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Discretionary Trusts And Powers In English Law
Discretionary trusts and powers in English law are elements of the English law of trusts, specifically of express trusts. Express trusts are trusts expressly declared by the settlor; normally this is intended, although there are situations where the settlor's intentions create a trust accidentally. Normal express trusts are described as "fixed" trusts; the trustees are obliged to distribute property, with no discretion, to the fixed number of beneficiaries. Discretionary trusts, however, are where the trustee has discretion over his actions, although he is obliged to act. The advantages of discretionary trusts are that they provide flexibility, and that the beneficiaries hold no claim to the property; as such, they cannot seek to control it, and it cannot be claimed for their debts. A power, or "mere power", on the other hand, is where not only does the holder have discretion over his actions, he has discretion over whether to act in the first place. Express trusts Express trus ... [...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] |
Three Certainties
The three certainties refer to a rule within English trusts law on the Creation of express trusts in English law, creation of express trusts that, to be valid, the trust instrument must show certainty of intention, subject matter and object. "Certainty of intention" means that it must be clear that the donor or testator wishes to create a trust; this is not dependent on any particular language used, and a trust can be created without the word "trust" being used, or even the donor knowing he is creating a trust. Since the 1950s, the courts have been more willing to conclude that there was intention to create a trust, rather than hold that the trust is void. "Certainty of subject matter" means that it must be clear what property is part of the trust. Historically the property must have been segregated from non-trust property; more recently, the courts have drawn a line between tangible and intangible assets, holding that with intangible assets there is not always a need for segregat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eric Sachs
Sir Eric Leopold Otho Sachs, (23 July 1898 – 1 September 1979) was a British barrister and judge. He was a High Court judge from 1954 to 1966 and then a Lord Justice of Appeal until 1973. Biography Sachs was born in London. His father was an architect, and his grandfather had emigrated from Germany to England. Sachs was educated at Charterhouse School and served as a gunnery officer in the Royal Artillery in the First World War, from 1917 to 1919, receiving wounds to his left hand. After being demobilised, he read law at Christ Church, Oxford, graduating after five terms in 1920. He was called to the bar at the Middle Temple in 1921, and was a pupil barrister under Wilfrid Lewis. He practised on the Oxford circuit and in London, and became a King's Counsel in 1938. He was also appointed Recorder of Dudley in 1938. He served in the staff of the adjutant-general in the War Office in the Second World War, starting as a second lieutenant but rapidly promoted to brigadie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blanchard Stamp
Blanchard is a French family name. It is also used as a given name. It derives from the Old French word ''blanchart'' which meant "whitish, bordering upon white". It is also an obsolete term for a white horse. Geographical distribution As of 2014, 42.3% of all known bearers of the surname ''Blanchard'' were residents of France (frequency 1:1,117), 36.3% of the United States (1:7,073), 8.7% of Canada (1:3,021), 3.5% of England (1:11,189), 1.7% of Haiti (1:4,397), 1.2% of Vietnam (1:56,908) and 1.1% of Australia (1:15,892). In France, the frequency of the surname was higher than national average (1:1,117) in the following regions: * 1. Saint-Barthélemy (1:18) * 2. Pays de la Loire (1:424) * 3. Centre-Val de Loire (1:574) * 4. French Guiana (1:677) * 5. Brittany (1:690) * 6. Nouvelle-Aquitaine (1:700) * 7. Bourgogne-Franche-Comté (1:1,098) In Canada, the frequency of the surname was higher than national average (1:3,021) in the following provinces: * 1. New Brunswick (1:511) * 2. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Appeal Of England And Wales
The Court of Appeal (formally "His Majesty's Court of Appeal in England", commonly cited as "CA", "EWCA" or "CoA") is the highest court within the Courts of England and Wales#Senior Courts of England and Wales, Senior Courts of England and Wales, and second in the legal system of England and Wales only to the Supreme Court of the United Kingdom. The Court of Appeal was created in 1875, and today comprises 39 Lord Justices of Appeal and Lady Justices of Appeal. The court has two divisions, Criminal and Civil, led by the Lord Chief Justice of England and Wales, Lord Chief Justice and the Master of the Rolls, Master of the Rolls and Records of the Chancery of England respectively. Criminal appeals are heard in the Criminal Division, and civil appeals in the Civil Division. The Criminal Division hears appeals from the Crown Court, while the Civil Division hears appeals from the County Court (England and Wales), County Court, High Court of Justice and Family Court (England and Wales ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Re Baden (No
Re or RE may refer to: Geography * Re, Norway, a former municipality in Vestfold county, Norway * Re, Vestland, a village in Gloppen municipality, Vestland county, Norway * Re, Piedmont, an Italian municipality * Île de Ré, an island off the west coast of France ** Le Bois-Plage-en-Ré, a commune on that island * Re di Anfo, a torrent (seasonal stream) in Italy * Re di Gianico, Re di Niardo, Re di Sellero, and Re di Tredenus, torrents in the Val Camonica * Réunion (ISO 3166-1 code), a French overseas department and island in the Indian Ocean Music * Re, the second syllable of the scale in solfège ** Re, or D (musical note), the second note of the musical scale in ''fixed do'' solfège * Re: (band), a musical duo based in Canada and the United States Albums * ''Re'' (Café Tacuba album) * ''Re'' (Les Rita Mitsouko album) * ''Re.'' (Aya Ueto album) * ''Re:'' (Kard EP) Other media * Resident Evil, popular video game franchise of survival horror * ''...Re'' (film), a 2016 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McPhail V Doulton
, also known as ''Re Baden's Deed Trusts (No 1)'' is a leading English trusts law case by the House of Lords on the certainty of beneficiaries. It held that so long as any given claimant can clearly be determined to be a beneficiary, or not, a trust is valid. The Lords also remanded the case to the Court of Appeal to be decided on this new legal principle as '' Re Baden's Deed Trusts (No 2)''. Facts Bertram Baden executed a deed settling a non-charitable trust for the benefit of the staff of Matthew Hall & Co Ltd and their relatives and dependents. The objects clause provided that: The validity of the trust was challenged, averring that the objects were insufficiently certain. Judgment Lord Wilberforce, after noting the fact that the settlor had left his property on trust, with instructions to distribute according to the trustees' choices (and, therefore, not equally among the potential beneficiaries), stated the following: Lord Wilberforce then went on to discuss the aut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Re Gulbenkian
''Re Gulbenkian’s Settlements Trusts'' 968 is an English trusts law case, concerning the certainty of trusts. It held that while the 'is or is not' test was suitable for mere powers, the complete list test remained the appropriate test for discretionary trusts. It was only a year later in ''McPhail v Doulton'' that the 'is or is not' test was considered appropriate for discretionary trusts by a different panel of their lordships. Facts Calouste Gulbenkian, a wealthy Armenian oil businessman and co-founder of the Iraq Petroleum Company, made a settlement in 1929 that said the trustees should ‘in their absolute discretion’ and while his son Nubar Gulbenkian was still alive, give trust property to 'Nubar Sarkis Gulbenkian and any wife and his children or remoter issue for the time being in existence whether minors or adults and any person or persons in whose house or apartments or in whose company or under whose care or control or by or with whom the said Nubar Sarkis Gulbenkia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alastair Hudson
Alastair Hudson (born 6 November 1968), FHEA, FRSA, is an English barrister and academic. He is, in 2017/18, employed at the University of Strathclyde, Glasgow and is also visiting professor of law at the University of Portsmouth. He has worked on the University of London International Programmes LLM programme since 2004. He was formerly professor of equity and finance law at the University of Exeter, having previously been professor of equity and finance law at the University of Southampton and, prior to that, professor of equity and law at Queen Mary, University of London. He was appointed a National Teaching Fellow in 2008, a Fellow of the Higher Education Academy, and a Fellow of the Royal Society of Arts. He was voted UK Law Teacher of the Year in 2008. He was awarded the Excellence in Teaching Award 2014 by the University of Southampton Students' Union for "Overall Outstanding Lecturer". He has published educational online materials for Law students and for legal practiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Settlor
In law a settlor is a person who settles property on trust law for the benefit of beneficiaries. In some legal systems, a settlor is also referred to as a trustor, or occasionally, a grantor or donor. Where the trust is a testamentary trust, the settlor is usually referred to as the testator. The settlor may also be the trustee of the trust (where he declares that he holds his own property on trusts) or a third party may be the trustee (where he transfers the property to the trustee on trusts). In the common law of England and Wales, it has been held, controversially, that where a trustee declares an intention to transfer trust property to a trust of which he is one of several trustees, that is a valid settlement notwithstanding the property is not vested in the other trustees. Capacity to be a trustee is generally co-extensive with the ability to hold and dispose of a legal or beneficial interest in property. In practice, special considerations arise only with respect to minors and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Property (Miscellaneous Provisions) Act 1989
The Law of Property (Miscellaneous Provisions) Act 1989 (c 34) is a United Kingdom Act of Parliament, which laid down a number of significant revisions to English property law. Nature of reforms The Act introduced several distinct reforms: :* The common law rules governing the form and delivery of a deed were abolished, and were replaced by requirements that: :** a deed is valid only when expressed as such, :** it is either signed by an individual in the presence of a witness who attests to it, or at his direction and attested by two witnesses, and :** it is delivered as a deed by him or a person authorised to do so on his behalf. :* Contracts for the sale or other disposition of an interest in land must be made in writing, and they must incorporate all agreed terms in one document. :* The rule of law known as the rule in ''Bain v. Fothergill'' (where, in an action for breach of contract for the sale of land because of failure of title without fraud, the plaintiff may recover ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Property Act 1925
The Law of Property Act 1925c 20 is a statute of the United Kingdom Parliament. It forms part of an interrelated programme of legislation introduced by Lord Chancellor Lord Birkenhead between 1922 and 1925. The programme was intended to modernise the English law of real property. The Act deals principally with the transfer of freehold or leasehold land by deed. The LPA 1925, as amended, provides the core of English land law, particularly as regards many aspects of freehold land which is itself an important consideration in all other types of interest in land. Background The keynote policy of the act was to reduce the number of legal estates to two – freehold and leasehold – and generally to make the transfer of interests in land easier for purchasers. Other policies were to regulate mortgages and as to leases, to regulate mainly their assignment, and to tackle some of the '' lacunae'', ambiguities and shortcomings in the law of property. Innovations included the default c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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