Society

Quiz Trusts Law

by Diamondsareforever

Diamondsareforever

255 played - 10 yrs ago

A quiz about trusts law including the basic building blocks.

QUIZ 30 QUESTIONS

hard

Which case held that decisions of the Court of Chancery will prevail?

The Earl of Oxfords Case

USH v Burnley

Elders Pastoral v Bank of New Zealand

Turner v Turner

Re Hays

Which act started procedural fusion of law and equity?

Judicial Acts

Compensation Act

Civil Liability Compensation Act

Law of Property Act

Judicature Acts

Which of these is not an example of equity being a gloss on the common law?

Contractual mistake

Contractual misrepresentation

Equitable remedies

Which of these is not an area of equity?

Negligence

Trusts

Company Law

Fiduciary Relationships

Partnership Law

How many maxims of equity are there said to be?

Who said "The two streams of jurisdiction, though they run in the same channel, run side by side and do not mingle their waters"

Lord Diplock

Prof. Ashburner

Lord Denning

Viscount Simmons

Lord Tullybutton

Which case is this phrase taken from "... the waters of the confluent streams of law and equity have surely mingled by now"

Elders Pastoral v Bank of NZ

Turner v Turner

USH v Burnley

Re Hays

McPhail v Doulton

Which case talked of "harmonious development"?

Turner v Turner

Elders Pastoral v Bank of NZ

Re Hays

McPhail v Doulton

Burrough v Philcox

What is a testamentary trust?

Created in a will

Self-declared

Created during life

Created before death and seperate from the will

A revocable trust

What is an inter-vivos trust?

Truste created in a will

Self-declared

Trust created during life

Trust created before death and in the will

A revocable trust

What is capital?

Lump sum

Income

Interests

Rent

Something that generates income

What type of trust is this : 'Settlor chooses to create trust and sets out to create trust'?

Constructive trust

Resulting trust

Public trust

Bare trust

Express trust

What type of trust is this "this property is on trust, hold it on trust and await my further instruction"

Active trust

Bare trust

Public trust

Constructive trust

Resulting trust

Which case held that the trustees must exercise the discretion themselves?

Re Hays

McPhail v Doulton

Turner v Turner

Burrough v Philcox

Re Baden

Which case held that the trustees must make appropriate inquiries?

Re Hays

Re Lockers ST

Burrough v Philcox

Re Baden

Re Allen Mayricks Trust

What type of trust is in Burrough v Philcox?

Large discretionary trust

Large active trust

Small family discretionary trust

Bare trust

Constructive trust

What type of trust was in Re Baden?

Large discretionary trust

Small discretionary trust

Small family discretionary trust

Large fixed trust

Small fixed trust

Which case held that with relation to powers of appointment both trustees have to agree?

Re Lockers ST

McPhail v Doulton

Re Allen Mayricks Trust

Mettoy Pension Trustees v Evans

Saunders v Vautier

Which case held that T was obliged to exercise discretion?

Re Lockers ST

McPhail v Doulton

Mettoy Pension Trustees v Evans

Saunders v Vautier

Re Allen Mayricks Trust

Which case gave rise to this rule "If all B's under trust are of full age and are competent then if they all agree then trust can be terminated and property divided in such way as they agree"

Saunders v Vautier

Mettoy Pension Trustees v Evans

McPhail v Doulton

Re Lockers ST

Re Allen Mayricks Trust

Which case is often regarded as mistaken?

Saunders v Vautier

McPhail v Doulton

Re Lockers ST

Re Allen Mayricks Trust

Mettoy Pension Trustees v Evans

What will the courts do if T doesn't act on a fixed trust?

Wait until T does act

Make T act in a rational way

Order T to apply his discretion

Courts will ask bank to distribute

Divide the money equally among the beneficiaries

When did large discretionary trusts first appear?

50 years ago

10 years ago

40 years ago

60 years ago

20 years ago

Which of these does not have a duty to distribute?

Fixed trust

Power of appointment

Discretionary trust

Which of these does not have discretion?

Discretionary trust

Power of appointment

Fixed trust

What must T do with regards to a discretion?

Listen to where the settlor wants the property distributed

Act rationally

Act irrationally

Act as part of a whim

Decide which beneficiary he likes most

Which of these is not an advantage of a discretionary trust?

Can take advantage of circumstances that are yet to develop

Have to find a trustee whose judgement you trust

Can allocate more to those who need it

Limit the amount of money a profligate has

Which of these is a disadvantage of a discretionary trust?

Discretion not being exercised in way you would have wanted

Taking advantage of conditions yet to develop

Allocating more money to those who need it

Capping the spending of a profligate

What type of trust is this "To my children in equal shares"?

Discretionary trust

Bare trust

Fixed trust

Constructive trust

Power of appointment

What are public trusts for?

Charities

Private individuals

Those who can't decide where their money should go

Government trusts

Remedial devices

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Quiz Trusts Law

Which case held that decisions of the Court of Chancery will prevail?

Which act started procedural fusion of law and equity?

Which of these is not an example of equity being a gloss on the common law?

Which of these is not an area of equity?

How many maxims of equity are there said to be?

Who said "The two streams of jurisdiction, though they run in the same channel, run side by side and do not mingle their waters"

Which case is this phrase taken from "... the waters of the confluent streams of law and equity have surely mingled by now"

Which case talked of "harmonious development"?

What is a testamentary trust?

What is an inter-vivos trust?

What is capital?

What type of trust is this : 'Settlor chooses to create trust and sets out to create trust'?

What type of trust is this "this property is on trust, hold it on trust and await my further instruction"

Which case held that the trustees must exercise the discretion themselves?

Which case held that the trustees must make appropriate inquiries?

What type of trust is in Burrough v Philcox?

What type of trust was in Re Baden?

Which case held that with relation to powers of appointment both trustees have to agree?

Which case held that T was obliged to exercise discretion?

Which case gave rise to this rule "If all B's under trust are of full age and are competent then if they all agree then trust can be terminated and property divided in such way as they agree"

Which case is often regarded as mistaken?

What will the courts do if T doesn't act on a fixed trust?

When did large discretionary trusts first appear?

Which of these does not have a duty to distribute?

Which of these does not have discretion?

What must T do with regards to a discretion?

Which of these is not an advantage of a discretionary trust?

Which of these is a disadvantage of a discretionary trust?

What type of trust is this "To my children in equal shares"?

What are public trusts for?

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