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The common law insists on honesty, diligence, and the due performance of contractual obligations. But equity insists on
nobler and subtler qualities: loyalty, fidelity, integrity, respect for confidentiality, and the disinteres
Different types of trust
Trusts can be classified according to the degree of discretion (or 'power') given to the trustee. They can
Fixed trusts - where the trust instrument specifies the share of the property
which each person is to receive.
But to say that a man is a fiduciary only begins the analysis; it gives direction to further inquiry. To whom
is he a fiduciary? What obligations does he owe as a fiduciary? In what respect has he failed to disc
2. Preliminary Issues
a. Identify in advance the possible breaches
i. At the preliminary stage, [X] may have breached their fiduciary duty to [Y] by (the acts).
3. Fiduciary Relationship (the parties)
-a relationship that is es
LAWS2385 Equity and Trusts
Personal Property Goods
Introduction to property
Background on property
Property comes under many different types of law (tort, contract, criminal etc). Property law generally
concerns questions of ownershi
Dear Ms. Jasmine Bryce
Thank you for coming to our office today, as discussed, the state may take action against
Talia for conducting a criminal offence. Under s 68 of the Health Records and Information
Privacy Act 2002 (NSW), it is an offence for a nurse
12 Assignments of debts and choses in action
Any absolute assignment by writing under the hand of the assignor (not purporting to be by way of charge only) of
any debt or other legal chose in action, of which express notice in writing has been given to th
Week 1A + 1B Introduction to Equity, Trusts, and Equitable
If A owns property, and he transfers the ownership of the property to B, but B agrees to use the
property for the benefit of C, a trust exists.
The essence of the trust, is that the owner
1. Fiduciary Obligations
You need to know how to identify fiduciary obligations. There are certain recognised categories like agency,
etc. There are others, because the categories are not closed, that depend on the particular facts and
circumstances of th
Relationships which equity protects are known as fiduciary relationships. A relationship will be
recognised as fiduciary where it arises from F undertaking to act in the interests of B in a manner which
confers a d
Concurrent contractual and fiduciary relationships
Many fiduciary relationships are created by contract, for example, solicitor-client relationships.
Alternatively, they may evolve from a relationship which was initially a contract permitting the pur
Principles of construction
8.3.3 requires words of the statute be given their natural and ordinary meaning (Cooper Brookes)
8.3.4 A constructi
What is Subordinate/delegated legislation?
6.1.3 A legislative rule made by an executive agency pursuant to an authority delegated by the legislature.
6.1.4 SL commonly deals with matters of proced
Reasons for Decisions
20.1.1 An aggrieved person can apply for and give reasons for decision ADJR Act s 13 and AAT Act s
A person entitled to apply to the tribunal for review the right may request from the DM a statement
WHAT AVENUES ARE AVAILABLE FOR REVIEW?
- The applicant can submit a complaint to the AHRC, specically the Human Rights
The applicant can pursue the following forms of review.
Commissioner, claiming (discrimination or a infringement of human rights
Special rules apply to a trust which is intended to take effect on the death of the settlor, these trusts are
known as testamentary trusts. The will creating the trust must comply with theformalities for creating a
Scope of the fiduciary relationship
Fiduciaries only owe duties in respect of their undertaking, which means that it is
important to distinguish between aspects of the parties relationship which are
fiduciary and those which are not. This is done by
Trust created by transfer
A settlor can create an express trust by transferring property to a trustee to hold on
trust. The following two requirements must be satisfied:
A declaration of trust - the declaration must establish that the
Informed consent as a defence to an action for breach of fiduciary
Claims for breach of fiduciary obligation can be defeated on a number of grounds:
a) The equitable bars to relief, such as laches, unclean hands and hardship, which apply t
Equitable Proprietary Interests
Personal remedies, (such as specific performance and injunctions), have the principle function of
enforcing personal rights, such as performance of a contract.
Over time equity proved willing to award perso
Introduction and Creation
A trust is when one person assumes legal ownership of a property but only for the benefit of another.
This is achieved by the original owner of a property (the settlor) giving the legal title of the property to a
How strict are fiduciary obligations?
The primary goal of enforcing fiduciary obligations is deterrence. Deterrence can be both general (aimed
at a class of fiduciaries) and individual (aimed at the fiduciary in question).
The strictness of fiduciary
1. To investigate complaints from members of the public (OB Act s 5(1)(a)
2. To undertake own motion investigations (OB Act s 5(1)(b)
Investigations are conducted privately (s 8) and informally