Equity and trusts Degree Case Study Example | Topics and Well Written Essays - 2000 words

Equity and deposits Degree - Case Study ExampleThis is so because, nevertheless though equity looks at intent and not form, equity is also bound to take light of the express will of the Parliament. We shall now turn our attention to the provisions of the will made by crowda. 100 000 to my beloved sister - Emily, in infinite confidence that she will use a passable amount to look after my step daughter, Mary James is entitled to leave as a good deal money as he wills to his sister or on trust for his step daughter. The problem we lose in the scenario at hand is that of the three certainties i.e. whether what James stated amounts to a declaration of trust everyplace the 100,000 The second is whether the amount left for Mary is identifiable The issue of objects does not seem problematic as Mary is clearly the intended beneficiary. The last problem that we will deal with is what would happen to the 100,000 if no trust is to be found.To consider whether James has created a valid t rust or gave a power of appointment. In Re Weekes Settlement (1897) a testatrix left billet to her husband with a power to dispose of all such(prenominal) property by will amongst our children in accordance with the power granted to him as regards the other property which I have under my marriage settlements. The court decided that the document did not create a trust for the children of the testatrix but a mere power of appointment for the husband to distribute the money if he willed. In the will left by James, an analogy could easily be drawn with the facts in Re Weekes Settlement (1897). He has left the 100,000 to his sister with a power of appointment that she could use a proper amount of the money for the care of Jamess step daughter. There are also cases where a relatively clearer aim was found like in Mussorie Bank Ltd v Reynor (1882), here also the question was whether the testator genuinely wanted to create a trust. However, in light of cases like Lambe v Eames (1871) wh ere the Court of Appeal refused to maintain a valid trust because the testator left a estate to his widow stating to be at her disposal in any way she may think best, for the benefit of herself and her family seems to be closest to facts at hand.The only problem in concluding that the money was an absolute gift to Emily is the case of Comiskey v Bowring-Hanbury (1905), where a trust was held on the words in full confidence that, in our case, similar words are used. In Comiskey however, the testators words were construed in such a way also because they were followed by an instruction that if the wife died without formulate the property to her nieces then the property will be divided equally amongst them. James uses similar words, in absolute confidence but one may be bound to incline towards earlier authorities as there are no further instructions. This indicates two things, first, that