The Creation of Express Trusts: The Three Certainties

These flashcards cover key concepts from Dr. Anna Chronopoulou's lecture on the creation of express trusts, focusing on the three certainties essential for trust validity.

What are the three certainties required for the creation of an express trust?

1. Certainty of Intention 2. Certainty of Subject Matter 3. Certainty of Objects.

Who is F. W. Maitland and what is his definition of a trust?

F. W. Maitland defined a trust as when a person has rights which he is bound to exercise on behalf of another or for a particular purpose.

What is the distinction between legal and equitable estate as described by Lord Selbourne?

The legal estate is held by the person who holds the property for another, while the equitable estate is in the person beneficially interested.

What does the case Knight v Knight (1840) establish regarding the certainties necessary for trusts?

It establishes the need for certainty of intention, subject matter, and objects.

In Jones v Lock, what was the court's ruling regarding the cheque given by the father to the child?

The court ruled no valid gift was made in favor of the child because no trust was declared and there was no intention.

What did the court determine in Paul v Constance about the necessity of special words for a trust?

The court held that no special form of words is required; conduct can demonstrate the intention to create a trust.

What does the term 'precatory words' refer to in trust law?

Words that reflect a desire or hope but do not necessarily create a binding trust.

What is required for certainty of subject matter in the context of trusts?

The property must be identifiable, certain, and segregated.

What was the outcome of the case Re Goldcorp Exchange Ltd regarding certainty of subject matter?

Certain customers established a trust because their bullion was physically segregated; others could not establish a trust due to lack of identifiable bullion.

How does McPhail v Doulton change the perspective on certainty of objects in discretionary trusts?

It established that it is sufficient to ascertain whether any individual is or is not a member of the class for discretionary trusts.

What did Lord Upjohn suggest regarding the interpretation of ambiguous language in trusts?

The court should use its judicial knowledge and common sense to derive a reasonable meaning without doing violence to the language.

What does evidential uncertainty in trusts refer to?

Evidential uncertainty deals with the practical difficulties of proving whether a person belongs to the class of beneficiaries.

What principle was highlighted in Re Tuck’s ST regarding a gift to 'persons of the Jewish faith'?

A gift defined by a third party's opinion may be certain, but if doubt arises, it cannot be resolved by reference to that third party.

What criteria did Lord Browne-Wilkinson introduce concerning administrative unworkability?

He posited that if the definition of beneficiaries is so broad that it creates administrative challenges, the trust may be unworkable.

What overall themes are emphasized in the concluding remarks about certainty of objects?

The distinction between trusts and powers, conceptual uncertainty, evidential uncertainty, and administrative unworkability.