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Topic:

Equity and trusts in life and death

Essay Instructions:
please please have a look at the slides I have uploaded they are there if you need to look at something or double-check. you have to answer 3 questions ONLY pick any 3 that you would like to answer and please use OSCOLA referencing no bibliography is required but please include a footnote for citing cases there are cases included in the lecture slides please feel free to cite them. the deadline for this is 5;30pm uk time so you have more than 6 hours and it is very important i get it back on time. the word limit is about 1000 words for each question but if it is a little less that is okay too. please can the document be double-spaced with size 12 font as well. if you have any questions please do not hesitate to reach out. Thank you. it should be written in uk format it is uk law essay
Essay Sample Content Preview:
Equity and Trusts in Life and Death Student Name Institution Date Question 2 Advise Lucien, Piotr, Magdalena, Viktoria and Jessica on their entitlement to Viktor’s estate is complex considering the involvement of the solicitor and the secretary signing the paperwork on Viktor’s behalf. * Car Collection Viktor informs his son Piotr verbally that he will inherit the collection of classic cars. He does this quietly without informing anyone else. In the UK, while verbal agreements can be legally binding, proving them can be problematic. Viktor does not make the statement in the hearing of the people, which makes it difficult to enforce. If Victor made the declaration in the hearing of the people present in the factory meeting, this would mean there are witnesses to attest to the claim. Trusts must be evidenced in writing since without a formal document, it is challenging to make any claim. It would be difficult for Piotr to claim the car collection as the father promised since the verbal statement was private and had no written document to support it. While Piotr asks Viktor to put the statement, something that the father appreciates, the father dies without formalizing the statement. Hence, Piotr does not have the necessary supporting evidence to argue for constructive trust in his favour. * Brooklands Court Viktor announced to his guests that he would hold the holiday apartment (Brooklands Court). However, the fact that Viktor promised to hold the property in trust does not by itself create a legally binding trust. This is because under s.53(1)(b), a declaration of a trust of interests in land must be proved in some writing and signed by the person declaring it. Brooklands Court is land and subject to s.53(1)(b). While the solicitor has prepared the necessary documentation relating to the trust of Brooklands Court, Viktor does not manage to sign them due to the jet crash. Viktor’s secretary Sven signs the paperwork on his behave, seeking to impress his boss. The signed documents by the secretary are null and void since this was not done under the authorization of Viktor. And even if Viktor authorized the signing of the paperwork, this will still not be enforceable since it is only Viktor who can sign the paperwork as the person declaring the trust. Additionally, S.53(1)(c) indicates that a disposition of an equitable interest or trust should be in writing. This nullifies the declaration that Viktor had made during the family meeting, as the land trust cannot be disposed of through a verbal declaration. Such a declaration should be accompanied by a formal written document. However, Rochefoucauld v Boustead shows that a trust of land can be enforced despite written evidence and may be used to demonstrate that s.53(1)(c) does not apply. However, since there are no unconscionable actions in the scenario, the rule of Rochefoucauld v Boustead does not apply. As a result, the land trust is unenforceable and cannot be addressed as the settlor is dead. If Viktor had signed the documents before dying, then the land trust would have been valid and enforceable. Shares[Rochefoucauld v Boustead [1897] 1 Ch 196] The transfer of the shares would require proper documentation and compliance with legal formalities. Viktor currently has 50,000 ordinary shares, which are held solely in trust by his nominees, Ben and Jerry. After the factory meeting, Viktor meets with Ben and Jerry and instructs them to hold 25,000 shares in trust for his wife Magdalena and to transfer the remaining 25,000 shares to his daughter Viktoria. He further proceeds to instruct the solicitor to prepare the necessary documentation relating to the 50,000 shares. However, Viktor’s secretary ends up signing the paperwork without authorization on his behalf. This makes the documents relating to the transfer of shares null and void since the secretary did it without authorization. However, the actions of the secretary do not invalidate the enforcement of the contents in the solicitor’s documents. Viktor has already instructed the solicitor on what to do regarding the shares. While waiting to board his private jet, Viktor sends an email through his office account to the solicitor, where he copies Magdalena, Poitr and Viktoria, detailing the arrangements for the 50,000 shares. In this case, there is written evidence regarding the transfer of the 50,000 shares since Viktor copied the email to all the parties concerned. As indicated, under S.53(1)(c), the disposition of equitable trust should be in writing. The rationale for s.53(1)(c) about equitable trust is preventing fraud that may arise in oral hidden transfers. The statutes are also important in enabling the trustees to identify the whereabouts of the equitable interest under a trust. The mail sent to the solicitor and the other family members meets the provisions of s.53(1)(c). The mail amounts to a written account and outlines what the trustees are entitled to, detailing all the arrangements. As a result, it can be relied upon to execute the will as Viktor intended. * Viktor’s Will Jessica will inherit the rest of the estate, including part of Brooklands Court not covered by a valid trust. However, Piotr, Magdalena, and Viktoria can review the terms of the will and if necessary seek legal advice to challenge it if they believe they have groups for doing so. Question 3 Sara can claim a share in the family home if possible but will encounter some challenges. She n...
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