Nobody downloaded yet

Trusts Law Arguments by Jones Garton and Margaret Halliwell - Essay Example

Comments (0) Cite this document
Summary
In the paper “Trusts Law Arguments by Jones Garton and Margaret Halliwell” the author discusses English trusts law as a unique element of English legal system. Trusts represent an intention of a ‘settlor’ to transfer his assets to a trustee…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.1% of users find it useful
Trusts Law Arguments by Jones Garton and Margaret Halliwell
Read TextPreview

Extract of sample "Trusts Law Arguments by Jones Garton and Margaret Halliwell"

Download file to see previous pages The articles by modern authors Jones Garton and Margaret Halliwell consider this phenomenon from a modern perspective. They refer to the most well-known cases in this field: Milroy v Lord, Re Rose, Pennington v Wayne and some others. In order to define the level of trust in perfect/imperfect gifts, it is relevant to refer to additional reading from previous years and to current sources (Substantial Change in Trust Tax Law, 2006; Diamond, 2002). A complicated nature of gift is the absence of contract basis, i. e. there is no special consideration of gift transfer (Langbein, 1995; McKendrick, 1992). Moreover, if a giver fails to complete required formal stages or has no legal title, gift may fail. Courts refer to the generally accepted motto in this kind of cases: “equity will not perfect an imperfect gift” (Langbein, 1995). Consequently, there are a lot of controversies appearing in trust cases. That’s why it is relevant to discuss a balanced nature of trust. In other words there is a need to consider its theoretical basis and practical implementation. A consideration about constitution of trust is a vividly discussed issue for academics and researchers, because practical implementation of trust in trusts law is rather rare. The trusts law has some specific features, which have to be discussed in detail. The most striking issue is that transfer may occur even if all formalities were not followed. Re Rose case is well-known with this regard and there is even a name for ‘Re Rose’ principle taken after the case. In this case the settlor transferred shares in a private company on behalf of certain trusts. Nevertheless the authority of the company didn’t register transfer at once and the question which had to be solved by court was when the shares were transferred. The date of settlor’s decision to transfer the shares was acclaimed to be the relevant date of transfer. This principle was discussed in other cases as well (Cunningham, 1992, p. 63). Pennington v Wayne is another interesting case for discussion. In this case the concept of unconscionability appears and the court considers this concept to be a primary fact in the case discussion. This concept was taken for granted as a decisive point because not all formalities were followed in the process of gift transfer. Jones Garton’s article The articles by Garton and Halliwell present two points of view on property and securities transfer mechanism. It is relevant to note that both of these authors suggest interesting considerations about trusts law in England. Jones Garton combines the ideas on trust collected from additional sources and law cases. He speaks about constituent nature of trust. Operational mechanisms of trust are focused on the main claim that “equity will not infer a perfect trust from an imperfect gift” (Garton, 2003). The basic claim was taken from Milroy v Lord (1862) case, from more contemporary case Pennington v Waine (2002) 1 WLR 2075. In accordance with Garton there are different principles in the rule of the ‘last act’ which establishes constitution and its application. Garton’s work impresses readers by his considerations about the ‘workings’ of trusts in Rose’s case which are express and constructive. Therefore it is clearly seen that Garton is interested in a concept of trust in imperfect gifts. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Trusts Law Arguments by Jones Garton and Margaret Halliwell Essay”, n.d.)
Retrieved from https://studentshare.org/law/1405608-is-either-argument-to-be-preferred
(Trusts Law Arguments by Jones Garton and Margaret Halliwell Essay)
https://studentshare.org/law/1405608-is-either-argument-to-be-preferred.
“Trusts Law Arguments by Jones Garton and Margaret Halliwell Essay”, n.d. https://studentshare.org/law/1405608-is-either-argument-to-be-preferred.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Trusts Law Arguments by Jones Garton and Margaret Halliwell

Trusts Law. Non-Charitable Purpose Trusts

...? Critically evaluate the rationale behind the rule that non-charitable purpose trusts are unenforceable; and consider critically the ways in which it has been suggested by academic commentators that such trusts could be valid and enforceable. - An Analysis Introduction The conventional observation is that non-charitable purpose trusts are void. In “Re Endacott”1, Lord Evershed M.R viewed that “a non-charitable trust under English law cannot be enforceable as it is not having ascertainable or quantifiable beneficiaries.” In “Bowman v. Secular Society”2, Lord Parker was of the view that “benefit to individuals should be an essential ingredient of a...
10 Pages(2500 words)Essay

Equity and Trusts Law

...the will he had explained to Muhammad that he wished that the £100,000 be held in trust for Ruth an old friend of his. He later on informed Karen that he had an illegitimate child named Katherine whom he wanted to be taken care of after he was gone. He asked Karen to be his administrator and Karen Obliged. Issues Whether the gifts were legitimate under the law Whether the widow Jane had any remedies available to her Law Applicable Will Act Maxims of Equity Resolution of Issues The law of equity states that equity seeks to deliver justice and not in halves. This means that where there is need for justice such will be given; no more or less. The courts have been...
3 Pages(750 words)Essay

Equity and Trusts Law

...to ensure that his/her estate is settled as he/she would wish, on the other there must be certainty in the law. One empathises with Lord Wilberforce's view in Blathwayt v Barron Cawley [1976]11 since without such an approach the majority of trust instruments would fail when closely construed by the courts. However McKay has a point - if in order to ensure that the trust does not fail the court has to completely alter the intended outcome then most benefactors would rather the trust failed altogether. But the fact is that the majority of such benefactors are already dead. The courts are right to attempt to ensure that the identified beneficiaries are not deprived of...
5 Pages(1250 words)Essay

Law of Trusts

...& Wilson's Textbook on Trusts. Oxford: Oxford University Press, 2005. Hudson, Alastair. Equity and Trusts. London: Routledge-Cavendish, 2007. Wilkie, Margaret, Rosalind Malcolm, and Peter Luxton. Equity & Trusts. Oxford: Oxford University Press, 2006. Keeton, George Williams. Modern Developments in the Law of Trusts. Belfast: (Faculty of Law, Queens University, Belfast), Northern Ireland Legal Quarterly, 1971. Watt, Gary. Trusts and Equity. Oxford: Oxford University Press, 2006. Waters, D. W. M. The Constructive Trust: The Case for a New Approach in English Law....
10 Pages(2500 words)Essay

The Law of Trusts

...to in the 2004 covenant has been transferred to Pat and Richard. Brian appointed Tony and Nathan as his executors and trustees under his will. If the 1999 Act does apply to covenants to settle, then this means that beneficiaries who have not provided consideration ‘volunteers’ will be able to sue the settlor. This issue only applies to volunteers because non-volunteers should normally be entitled to specific performance. Bibliography: 1) Hanbury & Martin, Modern Equity, 17th Edition, (2005), London: Sweet & Maxwell, 2) Penner, J. E. The Law of Trusts, 4th Edition, (2004), London: Butterworths, 3) Ramjohn M. Unlocking Trusts, 1st Edition, (2005), Hodder &...
12 Pages(3000 words)Case Study

Law of trusts

...ON WHICH ADVICE IS BASED BRADLEY WHITE & CO. ADVOCATES 17 THE Square Leighton Buzzard LU7 6RJ Tel: 0152638892 Fax: 0152669143 30Th August, 2006 Our Ref: RMP/52R Mr. J. Jones, Smart-West End Firm Simpleton Haxton H 14 5QT Dear Sir/Madam, RE: LETTER TO MICHAEL ON HIS WILL This is in reference to your Legal advice given to Michael. In the foregoing circumstances, I would like to address you as under- i) That in complying with the requirements of English Law, i.e. certainty of facts like:- (a) Property or rights capable of being subjected to the...
12 Pages(3000 words)Case Study

Law of Trusts

..., there were two forms of relief, which was set up, one is the outdoor relief5 and the other is the indoor relief6. In Canada, although they adopted the preamble of the Statutes of Charitable Uses, they have extended the meaning thereof by including a wider scope of the law. In Jones v. Executive Officers of the T. Eaton Co. (1973) Supreme Court Reports 635, the Supreme Court of Canada held as valid a trust set up to assist "any needy or deserving Toronto member of the Eaton Quarter Century Club." This I believe is within the ambit of the spirit of the law of trust. Advancement of Religion In advent of the reformation of the Church of England, it was...
8 Pages(2000 words)Essay

The Law of Trusts

...The Law of Trusts In order for a trust to be validly created the three certainties must be present. First there must be certainty of intention1, certainty of subject matter2 and certainty of objects3. Having established that the three certainties need to be present to make the trust valid it is necessary to look at whether the declarations made by Margaret can be read as an intention to create a trust. For a trust to be fully constituted the intended separation between the legal and equitable title must have occurred. With an express trust where the owner of the property declares himself to be a...
10 Pages(2500 words)Essay

LAW OF EQUITY & TRUSTS

...of an equitable interest. The legal and equitable estates had not been divided prior to the making of the security agreement.” 2 This qualifies the applicability of the requirement established in the law. Moreover it has been contended that The underlying policy was to :- a. prevent fraud by prohibiting oral hidden transfers of equitable interests under trusts and b. assist trustees by enabling them to identify the whereabouts of the equitable interest subsisting under a trust. 3 This indicates that even civil interactions among citizens state policy is to prevent prejudice, injury and fraud. That is made manifest by the measures embodied in law. It is the policy of...
14 Pages(3500 words)Essay

Equity law

..., there is need for further understanding of the trust mechanisms, given the prevailing theoretical inconsistencies between trust law theory and the rule in Re Rose. Reference List Cope, M 1997, Proprietary Claims and Remedies. Federation Press. 4 De G.F. & J. 264; 45 E.R. 1185; [1861-1973] All E.R. Rep. 783. Equity: Issues and Trends: the Importance and Pervasiveness of Equitable Doctrines and Principles in Modern Private, Commercial, and Public Law, 1995, Federation Press. Garton, J 2003, The role of the trust mechanism in the rule in Re Rose (Case Comment). Sweet & Maxwell. Halliwell, M 1997, Equity and Good...
5 Pages(1250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Trusts Law Arguments by Jones Garton and Margaret Halliwell for FREE!

Contact Us