Gwybodaeth Modiwlau

Module Identifier
LC24920
Module Title
Equity and Trusts
Academic Year
2019/2020
Co-ordinator
Semester
Semester 1
Exclusive (Any Acad Year)
LC34920 or CT34920 , LC34620, LA32920
Mutually Exclusive
Pre-Requisite
LA13110 or LA13410 , LA15710, LA10110, LA14720, LA15170, LC10120, LA33110, LA30110, LA32420, LA32720 (Or Welsh Medium equivalents GF / CT)
Reading List
Other Staff

Course Delivery

 

Assessment

Assessment Type Assessment length / details Proportion
Semester Exam 2 Hours   50%
Semester Assessment Essay  (2500 words)  50%
Supplementary Exam 2 Hours   50%
Supplementary Assessment Essay  (2500 words)  50%

Learning Outcomes

On successful completion of this module students should be able to:

​1. Give students an understanding of the legal rules governing the establishment and management of Trusts.

2. Introduce students to the analytical skills to appreciate and evaluate complex property transactions and concepts.

3. Learn to develop logical skills, including the application of relevant information to solving complex legal problems​.

Brief description

Students need to study Equity and the Law of Trusts in order to gain exemption from the Law Society and Bar Part I examinations. Trusts are set up for many reasons, for instance joint ownership of the matrimonial home; to avoid the payment of tax; to provide for infants, the elderly or mentally disordered persons; or to protect people from their own excesses or what the settlor perceives to be their excesses. In these cases the trusts are set up deliberately and usually after considerable forethought and advice. In other cases, giving is spontaneous and here the law has to find a framework within which to administer the resulting fund. The role of trusts in promoting public policy and the increasing importance of trusts in commercial law is also considered. The role and availability of equitable remedies will be considered also.

Content

​Indicative content is:
(a). Equitable principles and remedies
development of equity and equitable remedies
reasons for the development of trusts
trusts as tax avoidance method
trusts as protective devices
trusts in commerce

(b). Remedies and the importance of interlocutory procedures in practice
injunctions: interlocutory, final and freezing injunctions and search orders
reservation of title and tracing
specific performance
damages in equity
account of profits

(c). The Law of Trusts

2. Trusts for the benefit of persons

(a) Creation of a trust
Capacity
requirement of certainty
Intention to create a trust
formalities
perpetuities

(b) Certainty of beneficiaries
Trusts and Powers
nature of the beneficial interest

(c) Certainty of property

3. Succession

4. Charitable Trusts

5. Unincorporated Associations

6. Powers & Duties of Trustees
Fiduciary Position of Trustees

7. Variation of Trusts
termination under Saunders v Vautier
variation of trusts
Variation of Trusts Act 1958
Trustees

Module Skills

Skills Type Skills details
Application of Number n/a
Communication Seminar discussions will develop individual and group presentation and oral argument.
Improving own Learning and Performance Seminar participation, class problem solving exercises and exam will develop different aspects of personal academic development, from understanding and referencing sources through to the dissemination of ideas to others orally, and via written communication skills.
Information Technology Library and research skills are fundamental to preparation for seminars, the essay and exam.
Personal Development and Career planning This is a compulsory module for anybody seeking a QLD.
Problem solving Seminar discussion/problem solving practice lectures.
Research skills These skills will be developed through preparation for seminars, essay and the exam.
Subject Specific Skills Reading and understanding relevant materials in the field of Trusts Law primarily case law and academic analysis.
Team work Group activities and discussion in seminars.

Notes

This module is at CQFW Level 5