Equity and Trust Law UK Details of Beneficiary Principle - 2475 Words

Equity and Trust Law UK: Details of the Beneficiary Principle (Research Paper Sample) Content: Equity and Trust Law UKName:Subject:Date of Submission:Contents TOC \o "1-3" \h \z \u Introduction PAGEREF _Toc438286514 \h 3Details of the Beneficiary Principle PAGEREF _Toc438286515 \h 3Private Purpose Trusts are Uncertain PAGEREF _Toc438286516 \h 5The Perpetuity Rule PAGEREF _Toc438286517 \h 6Public Policy PAGEREF _Toc438286518 \h 7Exceptions of the Beneficiary Principle PAGEREF _Toc438286519 \h 8Conclusion PAGEREF _Toc438286520 \h 9IntroductionThe trust laws in England and Wales are based on a beneficiary principle that limits the flexibility of the law with regards to private purpose trusts. It is critical that the beneficiary principle was made by Sir William Grant in Morice v Bishop of Durham in 1804. Further, it is important to state the beneficiary principle because it lays the foundation for the upcoming discussion. It follows that the beneficiary principle argues that a trust possession ought to be seized on trust for acknowledged objects or beneficiaries, which is similar to the three uncertainties that will be mentioned in the course of this paper.[(1804) 9 Ves 399] [Richard Edwards and Nigel Stockwell, Trust and Equity (10th ed Longman 2011)] It should be noted that this paper argues that the beneficiary principle has hampered the development of trusts law in England and Wales for over two centuries; it is too rigid and enforced far too strictly. Until the rules surrounding it are relaxed then there cannot be any flexibility with respect to private purpose trusts in this jurisdiction. In order to achieve the objective mentioned before, this paper reflects on the details of the beneficiary principle, the relationship between private purpose trusts and the beneficiary principle before giving examples of how courts have interpreted the principle.Details of the Beneficiary PrincipleIt is notable that in the beneficiary principle has two versions, which are the strong version and the weak version. According to the strong version, the pr inciple states that a non-charitable trust is inexistent unless there are individuals with beneficial interests in a trust property. Critical to the discussion is the fact that Lord Parker endorsed this version in a case involving Bowman v Secular Society Ltd by asserting that a trust must involve beneficial individuals. Analogously, the weak version of the beneficiary principle states that a non-charitable trust is inexistent in the absence of someone with the authority to exercise obligations of the trustee. It is notable that the strong version of the beneficiary principle is evident in a case that involved Morice v Bishop of Durham (1804) where Sir William Grant stated that: "There can be no trust, over the exercise of which this Court will not assume a control; for an uncontrollable power of disposition would be ownership, and not trustà ¢Ã¢â€š ¬ Everyà ¢Ã¢â€š ¬trust [other than a trust for charity] must have a definite object. There must be somebody, in whose favour the Cour t can decree performance.à ¢Ã¢â€š ¬Ã‚ [Bowman v Secular Society [1917] AC 406 (HL)] [Alastair Hudson, Equity and Trust (7th ed Routledge 2013)] [(1804) 9 Ves 399] [Andrew Butler (ed) Equity and Trusts in New Zealand (2nd ed, Thomson Reuters, 2009) 235 at 238-239] From the two versions of the beneficiary principle, it is evident that two main ideas emerge from the principle. The first idea is that trustees are only responsible for the presence of beneficiaries who can ascertain that the trustees perform their duties. The second idea is that beneficiaries must have proprietary rights in trust properties. This owes to the reality that such a right gives the beneficiary a foundation to petition in court in case trustees fail in their duties. Critical to the discussion is the fact that beneficiaries earned the right to petition against trustees after a case involving Saunders v. Vautier (1841). It owes to the reality that the rule in the case mentioned above permits beneficiaries of a trust to terminate the trust prematurely. In such a case the trustees are always required to transfer the legal title of the trust property to the beneficiaries. However, it is crucial to note that the Saunders v. Vautier mostly applies when the beneficiary to a trust is a single individual. In short, the beneficiary principle provides room for beneficiaries to petition the terms of the trust in court.[(1841) 4 Beav 115] [(1841) 4 Beav 115] [Oakley Trends in Contemporary Trust Law (Clarendon Press, 1996) 1 at 1] From the literature above, it could be deduced that beneficiaries are the only ones capable of enforcing a trust after the trust has been created properly. Therefore, it could be argued that a trust for a non-charitable purpose, which is different from a trust for individuals, could be void because such a trust has no definite beneficiaries. It owes to the reality that a non-charitable trust has objects as beneficiaries, yet objects cannot complain before a court of law. Si mply put, non-charitable trusts could be invalid because they lack engines (beneficiaries) that direct them. As evidence, courts have ruled on cases of trusts based on the presence or absence of beneficiaries. For instance, Roxburg J held that non-charitable trusts that lack beneficiaries were not enforceable in Re Astorà ¢Ã¢â€š ¬s Settlement. Further, Lord Evershed stated "no principle perhaps has a greater authority behind the generational position than a trust not being a charitable trust, in other to be effective, must be have ascertained or ascertainable beneficiaries" in a case involving Re Endacott. This indicates that beneficiaries are rudimental in the trust laws of England and Wales.[Flannigan "The Core Nature and Fiduciary Accountability" (2009) NZ Law Review 375 at 395-397.136] [[1952] Ch 534] [[1959] 3 All ER 562] Reasons behind the Beneficiary PrincipleIt is important to note that private purpose trusts are not for the purpose of ascertainable beneficiaries and are o ften defined as trusts with abstract purposes. As evident in publications, private purpose trusts are invalid under the English and Wales law because such trusts lack beneficiaries who can push trustees to implement their obligations before a court of law. Perhaps it is why the beneficiary principle was implemented because the condition mentioned above ensures that trustees remain accountable. Critical to the discussion is the fact that the beneficiary principle exists because of three main reasons, which are also known as the three uncertainties and act as an obstacle to private purpose trusts.[John Glasson (ed) The International Trust (Jordan Publishing Ltd, 2002) 597 at 602] Private Purpose Trusts are UncertainThe first reason explaining the existence of the beneficiary principle is the fact that private purpose trusts are uncertain. This owes to the reality that the law of trusts defines trustees as the legal owners of a trust property implying failure to control trustees coul d make them act unconscionably and ignore their obligations. It follows that courts must understand the nature of trust obligations because failure to understand trustee obligations would make it difficult to control trustees, which explains the rationale behind the need for certainty of objects or beneficiaries. In fact, Hayton asserts that trust is a duty that requires trustees to be accountable to beneficiaries of a trust. Therefore, it could be construed that the presence of beneficiaries in a trust makes trustees accountable, which in turn prevents trustees from acting unconscionably. As evidence, Lord Eldon acknowledged the decision in Morice v Bishop of Durham by explaining that the beneficiary principle exists to prevent the mismanagement of trusts by trustees.[Wilson and Angelo Forte (eds) Gloag and Henderson The Law of Scotland at 814-816] [David Hayton, à ¢Ã¢â€š ¬Ã‹Å"Developing the Obligation Characteristic of a Trustà ¢Ã¢â€š ¬ [2001] LQR 96] [Morice v Bishop of Durham (1804) 9 Ves 399 (Sir William Grant M.R)] It is notable that this reason for the existence of the beneficiary principle has been applied in several court cases. For example, in Re Endacott the testator left a trust "for the purpose of providing useful memorial to myself." On the contrary, the court refused to uphold the trust because it was unknown what "some useful memorial to myself" meant. Analogously, the same concept was applied in the Re Astor Settlement Trust where Roxburg J argued that the purpose declared in the trust was vague. This owes to the reality that the terms of the trust had a purpose of "maintenances....of good understanding between nations, preservation of integrity between newspapers from being absorbed or controlled by combines." As a result, Roxburg J declared the purpose of the trust to be vague because the terms of the trust did not define how the income was to be divided. Clearly, the two examples of court cases indicate that the terms of the trust must b e stated clearly. It owes to the reality that clarified terms of a trust enable the court to control trustees, which in turn ensures that trustees perform their duties.[[1959] 3 All ER 562 13] [Pawlowski Summers, à ¢Ã¢â€š ¬Ã‹Å"Private Purpose Trust- A Reform Proposalà ¢Ã¢â€š ¬ [2007] COVPL 148] [[1952] Ch 534] [Langbein "The Contractarian Basis of the Law of Trusts" (1995) 105 Yale LJ 625 at 627] [Waters, Donovan W.M "The Trust in a Changed and Yet Changing World" (2008) JTCP 205.] The Perpetuity RuleIt is notable that a trust may continue in existence in perpetuity. It is also crucial to note that there are two perpetuity rules, which include the rules against re-alienation and the remoteness of the vesting rule. The remoteness in the vesting rule requires that any trust property ought to have a definite time implying that if the vesting does not occur within the period, the trust may be deemed void. Critical to the discussion is the fact that the remoteness i...

Enlightenment And The Great Awakening - 814 Words

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Impact of Imperialism - 1009 Words

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Essay Paper Queen Elizabeth I Example For Students

Essay Paper Queen Elizabeth I Queen Elizabeth, the first, proved to be a very good and loyal monarch to England. She brought about many changes, both good and bad. On September 7, 1533 a baby girl came into the world. Back then many parents would have been greatly disappointed to have had a baby girl, rather then a boy. However these parents were glad by the birth of their first child together. These proud parents were the king and queen of England, King Henry VIII and Anne Boleyn. The girl child was named Elizabeth. The only reason for the birth of Elizabeth had been that she would have been male so that he could have been the heir to King Henry the VIII. It wasn’t until two years later that Henry realized he wasn’t going to get a healthy male heir from Anne Boleyn. She had miscarried twice before delivering a stillborn son. When Elizabeth was two her father had her mother beheaded for adultery and treason, this was just a way to rid himself of her rather then get a divorce. This was not Henry’s first wife; this was his second wife. His first wife had also born him a female child. He had divorced her in hopes that he would get an heir from Anne. With his first wife, Catherine, he had a daughter, which they named Mary. Between the time of Elizabeth’s mothers death and 1537 Henry married yet again. The woman was named Jane Seymour and she cared greatly for Elizabeth. She forced Henry to take Elizabeth back into the house, as it was, Elizabeth had been sent away for schooling and whatnot. In 1537 Elizabeth’s new stepmother, Jane Seymour, gave birth to a son, the birth of this son however brought about the death of Jane from bed fever. The child was named Edward. Once Edward had been born Elizabeth faded into the background, everyday receiving less and less attention. From the time Edward was born Elizabeth spent a lot of time with him. Growing up they were very close, they spent all of their spare time together. The only real time that the two of them were apart was when it came to schooling. She received her education under the famous scholar and humanist Roger Ascham. Under his guidance, Elizabeth studied Greek and Roman classics, read history and theology, and learned both classical and modern languages. She was considered extremely intelligent, and records say that, in her youth, she spoke six languages. In 1547 Henry VIII died. At the age of fourteen Edward became King Edward VI. He died only six short years later. Elizabeth’s older half-sister, Mary Tudor came to the throne. Mary, who was Catholic, earned the nickname Bloody Mary. During the time that Bloody Mary was at the throne she married Philip of Spain, soon to be Philip the second. However Parliament blocked his accession to the English throne. She burned many Protestants at the stake. When rebels wanted to place Elizabeth on the throne Queen Mary had her arrested and sent to the Tower of London and later on to Woodstock. She remained imprisoned for five years until Mary, near death, named Elizabeth her successor. On March 17, 1558, the last Tudor monarch of England ascended the throne. Elizabeth initially did not want to face the heated conflict between the Catholics and Protestants in England. However Mary Stuart forced her to. The Catholic Mary, queen of Scotland, was the grandniece of Henry VIII and the next in line to the throne. Accused of murdering her second husband, Henry Stuart Darnley, Mary fled to England to escape a rebellion in Scotland. Many European and English Catholics plotted to put her on the throne. To protect her crown, Elizabeth had her cousin Mary Placed under house arrest in 1567. Meanwhile, Elizabeth’s throne was threatened from the outside forces. Philip II, who became ruler of Spain and its empire in 1556, sought to control the world. England and many other European countries were jealous of Spain’s riches, especially in the New World. .u5f323d463f981710e3d2ce7197a2acd1 , .u5f323d463f981710e3d2ce7197a2acd1 .postImageUrl , .u5f323d463f981710e3d2ce7197a2acd1 .centered-text-area { min-height: 80px; position: relative; } .u5f323d463f981710e3d2ce7197a2acd1 , .u5f323d463f981710e3d2ce7197a2acd1:hover , .u5f323d463f981710e3d2ce7197a2acd1:visited , .u5f323d463f981710e3d2ce7197a2acd1:active { border:0!important; } .u5f323d463f981710e3d2ce7197a2acd1 .clearfix:after { content: ""; display: table; clear: both; } .u5f323d463f981710e3d2ce7197a2acd1 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u5f323d463f981710e3d2ce7197a2acd1:active , .u5f323d463f981710e3d2ce7197a2acd1:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u5f323d463f981710e3d2ce7197a2acd1 .centered-text-area { width: 100%; position: relative ; } .u5f323d463f981710e3d2ce7197a2acd1 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u5f323d463f981710e3d2ce7197a2acd1 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u5f323d463f981710e3d2ce7197a2acd1 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u5f323d463f981710e3d2ce7197a2acd1:hover .ctaButton { background-color: #34495E!important; } .u5f323d463f981710e3d2ce7197a2acd1 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u5f323d463f981710e3d2ce7197a2acd1 .u5f323d463f981710e3d2ce7197a2acd1-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u5f323d463f981710e3d2ce7197a2acd1:after { content: ""; display: block; clear: both; } READ: Cultural Anthropology EssayElizabeth allowed her seamen to raid Spanish ships on the high seas. Between 1557 and 1580, Francis Drake sailed around the world, becoming the first man, after Francis Magellan to do so. On his trip he ravaged Spanish settlements in South America, returning to England with 1,000,000 in treasure. Elizabeth knighted him aboard his ship, the Golden Hind, worsening already tense relations between Protestants England and catholic Spain. During the 1580’s, Elizabeth began to harshly persecute Catholics in England. She sent hundreds to their deaths. Many felt the horrors of the wrack, the manacles, and the Scavenger’s daughter. The Scavenger’s Daughter was an iron hoop that brought a victim’s hands, head, and feet together into a tight ball until he or she was crushed. One of the reasons for the persecutions was a series of Catholic plots to murder Elizabeth and replace her with Mary, Queen of Scots. Finally, in 1586, Mary’s part in these plots were proven and she was beheaded the following February. Mary’s death was the final blow to the English- Spanish relations. Philip II declared war. In July 1588, a huge navy fleet, the Spanish Armada, set sail for England. The English navy led by Francis Drake and Martin Frobisher, rose to meet the armada in a nine- day battle. The smaller, quicker English ships easily outmaneuvered the Spanish galleons, but could not move close enough to attack. The Spaniards, however, made the mistake one night of anchoring their entire fleet, and the English sent a squadron of flaming ships into the anchored vessels. Scared, the armada cut it’s lines and fled to open waters. Chased by the English the Spanish tried to sail north around the British Isles. However storm after storm pounded the armada and about half the fleet was lost. Their war continued for fifteen years. The Spaniards could not overcome the English. Elizabeth’s reign after the defeat of the armada was beset by troubles. Her control over her country’s religious, political, and economic problem’s, as well as her presentation of herself, began to show severe strains. Bad harvests, inflation, and unemployment caused by the loss of public morale. Corruption and greed led to wide spread popular hatred for Elizabeth’s favorites, to whom she had given lucrative and much resented monopolies. By the turn of the century, even her admirers, such as Sir Walter Raleigh, said she was a lady surprised by time. Queen Elizabeth had never married and had never born any children this brought about the nicknames such as Good Queen Bess, and The Virgin Queen. Oftentimes poets compared her to the Moon Goddess, to a Virgin and Fertility Goddess, the bringer of justice, and the cornerstone of the Empire. Painters portrayed her in impossible magnificence and with the symbols of peace, virtue, majesty, and truth. During Elizabeth’s reign there was a boom of the arts that would be impossible for almost any other period of English history to match. Edmund Spencer, Christopher Marlowe, William Shakespeare, and Ben Johnson are great names not only in English literature, but also in World literature. The English Renaissance was a highlight that appeared bloody, dark, and dreary. Elizabeth’s reign was and still is sometimes referred to as the Elizabethan Period. Shortly before Queen Elizabeth died on March 24, 1603, she designated James VI of Scotland as her successor.

Police Militarization - Exam Free Samples

Police Militarization - Exam Free SamplesPolice militarization, the use of force by local law enforcement agencies, is a hot button issue right now. While some view it as a good thing, there are others who believe it is a bad thing. The opinions differ, but I believe there is a solution to all of these problems, and you may be surprised to learn about the resource available to help you learn about it!All police and military personnel need to write their own essays. I am glad that the Army does not allow a candidate to submit a mandatory essay on the topic of their choice. These types of classes will show you how to apply your military experience and knowledge to real life situations. The military is no longer something to be studied, but to be used!The Army has several different types of officer essay writing courses, some focused on the history of the Army and the different branches, others on modern combat scenarios, and others to apply past experiences to today's challenges. The c ost for these courses is based on the length of the course, and the amount of time spent studying in class. Many troops participate in Officer Essay Writing Courses because it is an important part of their daily duties.After one of these Military Essay Writing Courses, officers must write an essay that demonstrates the application of their course of study. Police officers are always faced with trying to balance local and national security concerns, which can be a difficult balancing act, and they need a resource that can help them understand their new information. Your military course will help you understand the laws and policies involved, as well as prepare you for your assignment.There are numerous ways in which you can qualify for a Military Course for Law Enforcement. You can get your military degree through the U.S. Army at Fort Leonard Wood in Missouri, and several other Army installations around the world. The basic requirements for these courses are completing an officer tr aining course, taking five AP courses in selected subjects, and a writing sample.Officer Essay Writing Courses are taught by a qualified Army instructor, who will review your work, so you can further enhance your essay skills. Because the instructors are highly qualified and skilled professionals, they are often invited to speak at conferences, or give training in certain areas of specialized law enforcement. They will ensure that you have the necessary skills to effectively communicate and to win a job as a highly trained military officer.They will also be able to help you with the writing sample, and provide you with a background to show that the written piece contains current and relevant facts. One of the benefits of this course is that it is unlike many other free course applications out there. In order to earn one of these valuable resources, you must complete the course and submit the essay.This makes all of the free samples useless, because the majority of these places requi re you to pay before you can use them. A Military Essay Writing Course is the only place where you can gain from these free samples. The course will educate you, while still allowing you to learn the skills needed to be a successful police officer!

Top Advice on Current Controversial Essay Topics

Top Advice on Current Controversial Essay Topics 4 After introducing each side of the matter and allowing students to go over their opinions, you can express your own opinion about it. No warrant needs to be needed for search and seizures. You should have your reasons, and our primary concern is that you find yourself getting a great grade. Bear in mind that no opinions can be totally correct or wrong for this form of debatable themes. As an example, in college, you might be requested to compose a paper from the opposing perspective. Still, teens typically have a list of their typical subjects which are the inevitable portion of the discussion evening. There isn't anything like a controversial topic to have the blood flowing through your. If young people don't have the chance to talk about their own opinions and learn how to look at those of others, we cannot expect them to do so as adults. After discovering our website, you will no longer will need to bother friends and family with these kinds of requests. Following are a few of the suggested sociology essay topic for those students that are unable to pick a great topic for their assignment. Many students will know about the label DREAMers. In order to get children, both parents ought to be certified. There are invariably a wide selection of opinions on the field of technology, and here are our favourite things to consider on the subject. You may continue to keep your argumentative essays for your upcoming job portfolio in case they're highly graded. The demand for industries to make income is resulting in loss of trees and drop in water catchment locations. Needless to say, the best methods of hunting for interesting topics is developing a list of superior satire topics. Facts, in the long run, will always win out against how folks are feeling at a specific moment. Folks can still locate your work online and you need to make certain it is written good and mistake free. There are several things you need to live, many things you feel, and you simply don't know if a number of the situations you do are ok or not. When thinking of a short article, think about something that lots of men and women try to find in searches. Current Controversial Essay Topics for Dummies Others might prefer to get an official debate. If you ask our present president, he'd say no. These carefully selected topics will aid you with your essay. College is for a high amount of study. Schools should not have a thing to do with ads. Various co-workers also have seemed on the verge of burnout whether or not they had a chronic illness. Discussing DACA may be even more so. Students need to be careful about posting on social networking. So make sure you decide on a subject, which has values in it. Both the media and freedom of speech are thought to be essential to construct a democracy thus they need to co-exist. Since that time, completely free speech has come to be a matter of massive concern and importance. Initially, it is associated with journalism and the press. Several issues could be associated with poverty, especially the political and financial instability that numerous nations have been going through. Cyber-attacks are an important intelligence tool for all nations. Biological weapons shouldn't be allowed. There are lots of aspects about a sport that may be argued in an essay. Sociology essays manage the study of human social behavior in a society, therefore, it is quite interesting for the students who want to know more about human psyche but boring for people who don't like studying their species. If you would like to write satire essay topics, you must have a better comprehension of what it actually means. Education scholars are continuously evolving the way that they think about how we learn and what's taught.

Essay Examples - Choose Essay Examples Based on Your Own Skills

Essay Examples - Choose Essay Examples Based on Your Own SkillsHaving a set of essay samples that you can refer to when writing will help you get your writing skills better. The problem is that a lot of students have an easier time choosing essay samples that are written by people with professional writing skills and because they are seen as easy to read. The problem is that many of the samples can be very hard to read and it is not easy to make a quick decision on which one is right for you.Professional writers may not always write for the same theme, so you may want to choose different topics. Another problem with sample essays is that they often include grammar errors. If you are writing essays for college, then you should select essays that are correct with spelling and grammar mistakes.So how do you get essays that are as good as the essay samples that you see on the internet? You have to write what you know and you have to use proper grammar and punctuation. You should also kno w how to format the essay so that it makes sense and is easy to read.A professional writer can also be able to edit the essay for you so that you can get it the way you want it. It is also important that you know what kind of paper you are writing. One thing to remember is that you should choose subjects that you know about.It is very important that you can be able to decide on the themes that you want to write because essay samples may be written for different subjects. Some essays are based on current events and you will be dealing with current issues that are important. Other topics will be more topical in nature and you will be dealing with various things like politics, religion and even how to make money online.Because the essay samples are samples, it is important that you know how to read them so that you can make sure that they are useful. Some of the essay samples may require research so that you can make sure that you know what you are doing when you write. Using a diction ary is a great way to improve your vocabulary and sentences.You can always take your own handwriting or type the essay yourself to see if you are doing it right. This is one of the best ways to make sure that you are doing everything correctly. The other thing that you can do is study what some professional writers are doing and you will notice that they are always perfect in their essays.You can improve your own skill at writing by reading a lot of articles on writing and also getting assistance from others. However, it is always important that you do your homework before you begin your essay writing. This is something that a lot of students forget to do and it can really slow down your progress.