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Equity: Trustees

Quiz by samparkin92
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Last updated: October 10, 2023
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First submittedOctober 10, 2023
Times taken1
Average score78.6%
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Hint
Answer
Who has legal title?
Trustee
Who takes the benefits from this?
Beneficiary
What do trustees have an obligation to do when they are appointed?
Acquaint themselves with the trust
Where will one find the information of the trust?
Trust instrument
What legislation provides DoC for trustees?
S.1 Trustee Act 2000
Case for threshold reasonability of trustee actions
Nestle v National Westminster Bank Plc [1994]
What act got rid of the 'doctrine of conversion'
Trusts of Land and Appointment of Trustees Act 1996
Hint
Answer
What arises when a trustee takes a bribe or makes a profit unconscionably
Constructive trust
Are trustees allowed to put themselves in a position where there could be conflict?
No
What are the rules for fiduciaries?
No profit
No conflict
Who gives the main 'definition' of a fiduciary?
Millet LJ in Mothew [1997]
What legislation are company directors governed by?
SS.170-175 Companies Act 2006
Case for where trustees made themselves directors of a company in the trust?
Re Macadam [1946]
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