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UK · Year 3 · Equity & Trusts

Express Trusts

Certainties, constitution and beneficiaries.

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  1. 1.Knight v Knight (1840) — the three certainties?

    Certainty of intention, certainty of subject matter, and certainty of objects.

    (1840) 3 Beav 148

  2. 2.McPhail v Doulton [1971] — test for discretionary trusts?

    The "is or is not" test: can it be said with certainty that any given individual is or is not a member of the class?

    [1971] AC 424 (HL)

  3. 3.Milroy v Lord (1862) — principle?

    Equity will not perfect an imperfect gift, and will not construe a failed outright gift as a declaration of trust.

    (1862) 4 De GF & J 264

  4. 4.Re Rose [1952] — exception?

    A gift is complete in equity once the donor has done everything in their power to transfer the property.

    [1952] Ch 499 (CA)

  5. 5.Saunders v Vautier (1841) — rule?

    Adult beneficiaries of sound mind who are together absolutely entitled can call for the trust property and end the trust.

    (1841) 4 Beav 115