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Definition
and distinction from other legal concepts. Classification of trusts.
Equitable rights and remedies.
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Express private
trusts. Statutory requirements for creation. Secret trusts. Incompletely
constituted trusts. Certainties of a trust. Protective trusts. Discretionary
trusts. Purpose trusts.
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Charitable
trusts. Definition. Distinctions from private trusts. Classification
of charitable trusts. Doctrine of cy près.
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Implied and
resulting trusts. Purchase in the name of another. Joint purchase
and joint accounts. Contributions to purchase price. Adding value
to another’s property. Mutual wills – both types. Beneficial
interest not completely disposed of.
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Constructive
trusts. General nature. Comparison with proprietary estoppel. The
contractual vendor as a constructive trustee. The express trustee
as a constructive trustee. Trustee profiting from trust. Remuneration
of trustees
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The appointment,
retirement and removal of trustees. Delegation of trustees’
powers and discretion's.
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Trustees’
powers and duties. Investment of trust funds. Maintenance and advancement.
Accumulation of income
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Variation of
trusts.
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Remedies for
breach of trust. Personal and proprietary remedies. Tracing
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Trustees’
liability for breach of trust. Trustees’ right of indemnity
or contribution.
