The Powers and Duties of Trustees

what are the 3 broad categories of duty which a trustee is subject to?

1. duty to preserve the trust assets

2. duty to manage the trust assets with proper care

3. duty of undivided loyalty

key point of Buttle v Saunders?

trustees have a duty to obtain the best price they can for beneficiaries

> subject to such a discretion as will allow them to act with prudence

key point of Cowan v Scargill?

trustees must put on one side their own personal interests and political or social views in administering the trust

key point of Speight v Gaunt?

when considering breach of duty the courts will look at the standards of business at the time of the alleged breach