Deck 2: Classifi Cation of Trusts and Powers

Question 1

The common law recognises the mechanism of the trust.

Answer 1

False

Question 2

What's the difference between fixed and discretionary express trusts?

Answer 2

No Answer.

Question 3

Why are protective trusts difficult to create?

Answer 3

No Answer.

Question 4

In which two situations do resulting trusts occur?

Question 5

In which case did the court imply a resulting trust as the entire equitable interest had not been used up?

Question 6

When does a constructive trust apply?

Question 7

What are trusts used for today?

Question 8

In which case did Lord Upjohn set out the 'basic difference' between a mere power and a trust power?

Question 9

What was the name of the test enunciated by Lord Upjohn in Re Gulbenkian's Settlement?

Question 10

When the trust is set up who owns the legal title to the property?

Question 11

Who are the three types of party that are normally required in order for a trust to function?

Question 12

The maximum number of beneficiaries to a trust is 50.

Question 13

The common law recognises split ownership of property.

Question 14

Trusts can be set up either in the settlor's lifetime (inter vivos) or upon his death (via his will or by the laws of intestacy.)

Question 15

A power of appointment may be exercised by the donee and a trust must be executed by the trustee.

Question 16

Does there have to be a human beneficiary to a trust?

Question 17

Was a class of 'friends' held to be sufficiently certain in Re Barlow's Will Trust?

Question 18

Which of these are types of express trust?

A)Resulting
B)Fixed
C)Discretionary
D)Constructive
E)Protective

Question 19

Which of these statements is true:

A)Implied trusts are expressly created by the settlor
B)Implied trusts fill gaps
C)Implied trusts are implied by equity

Question 20

What is the problem with giving someone temporary custody of your land?