Classic Classic Quiz Trusts Law by Diamondsareforever Diamondsareforever 265 played - 11 yrs ago A quiz about trusts law including the basic building blocks. QUIZ 30 QUESTIONS hard 1 Which case held that decisions of the Court of Chancery will prevail? The Earl of Oxfords CaseUSH v BurnleyElders Pastoral v Bank of New ZealandTurner v TurnerRe Hays 2 Which act started procedural fusion of law and equity? Judicial ActsCompensation ActCivil Liability Compensation ActLaw of Property ActJudicature Acts 3 Which of these is not an example of equity being a gloss on the common law? Contractual mistakeContractual misrepresentationEquitable remedies 4 Which of these is not an area of equity? NegligenceTrustsCompany LawFiduciary RelationshipsPartnership Law 5 How many maxims of equity are there said to be? 211520313 6 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 DiplockProf. AshburnerLord DenningViscount SimmonsLord Tullybutton 7 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 NZTurner v TurnerUSH v BurnleyRe HaysMcPhail v Doulton 8 Which case talked of "harmonious development"? Turner v TurnerElders Pastoral v Bank of NZRe HaysMcPhail v DoultonBurrough v Philcox 9 What is a testamentary trust? Created in a willSelf-declaredCreated during lifeCreated before death and seperate from the willA revocable trust 10 What is an inter-vivos trust? Truste created in a willSelf-declaredTrust created during lifeTrust created before death and in the willA revocable trust 11 What is capital? Lump sumIncomeInterestsRentSomething that generates income 12 What type of trust is this : 'Settlor chooses to create trust and sets out to create trust'? Constructive trustResulting trustPublic trustBare trustExpress trust 13 What type of trust is this "this property is on trust, hold it on trust and await my further instruction" Active trustBare trustPublic trustConstructive trustResulting trust 14 Which case held that the trustees must exercise the discretion themselves? Re HaysMcPhail v DoultonTurner v TurnerBurrough v PhilcoxRe Baden 15 Which case held that the trustees must make appropriate inquiries? Re HaysRe Lockers STBurrough v PhilcoxRe BadenRe Allen Mayricks Trust 16 What type of trust is in Burrough v Philcox? Large discretionary trustLarge active trustSmall family discretionary trustBare trustConstructive trust 17 What type of trust was in Re Baden? Large discretionary trustSmall discretionary trustSmall family discretionary trustLarge fixed trustSmall fixed trust 18 Which case held that with relation to powers of appointment both trustees have to agree? Re Lockers STMcPhail v DoultonRe Allen Mayricks TrustMettoy Pension Trustees v EvansSaunders v Vautier 19 Which case held that T was obliged to exercise discretion? Re Lockers STMcPhail v DoultonMettoy Pension Trustees v EvansSaunders v VautierRe Allen Mayricks Trust 20 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 VautierMettoy Pension Trustees v EvansMcPhail v DoultonRe Lockers STRe Allen Mayricks Trust 21 Which case is often regarded as mistaken? Saunders v VautierMcPhail v DoultonRe Lockers STRe Allen Mayricks TrustMettoy Pension Trustees v Evans 22 What will the courts do if T doesn't act on a fixed trust? Wait until T does actMake T act in a rational wayOrder T to apply his discretionCourts will ask bank to distributeDivide the money equally among the beneficiaries 23 When did large discretionary trusts first appear? 50 years ago10 years ago40 years ago60 years ago20 years ago 24 Which of these does not have a duty to distribute? Fixed trustPower of appointmentDiscretionary trust 25 Which of these does not have discretion? Discretionary trustPower of appointmentFixed trust 26 What must T do with regards to a discretion? Listen to where the settlor wants the property distributedAct rationallyAct irrationallyAct as part of a whimDecide which beneficiary he likes most 27 Which of these is not an advantage of a discretionary trust? Can take advantage of circumstances that are yet to developHave to find a trustee whose judgement you trustCan allocate more to those who need itLimit the amount of money a profligate has 28 Which of these is a disadvantage of a discretionary trust? Discretion not being exercised in way you would have wantedTaking advantage of conditions yet to developAllocating more money to those who need itCapping the spending of a profligate 29 What type of trust is this "To my children in equal shares"? Discretionary trustBare trustFixed trustConstructive trustPower of appointment 30 What are public trusts for? CharitiesPrivate individualsThose who can't decide where their money should goGovernment trustsRemedial devices A mistake in this Quiz ? Contact the author Commentaires
