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Quiz Society
Trusts Law
created by
Diamondsa…
on 20 Mar 13
Society
Hard level
(44% of success)
30 questions - 250 players
A quiz about trusts law including the basic building blocks.
1
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
2
Which act started procedural fusion of law and equity?
Judicial Acts
Compensation Act
Civil Liability Compensation Act
Law of Property Act
Judicature Acts
3
Which of these is not an example of equity being a gloss on the common law?
Contractual mistake
Contractual misrepresentation
Equitable remedies
4
Which of these is not an area of equity?
Negligence
Trusts
Company Law
Fiduciary Relationships
Partnership Law
5
How many maxims of equity are there said to be?
21
15
20
3
13
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 Diplock
Prof. Ashburner
Lord Denning
Viscount Simmons
Lord 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 NZ
Turner v Turner
USH v Burnley
Re Hays
McPhail v Doulton
8
Which case talked of "harmonious development"?
Turner v Turner
Elders Pastoral v Bank of NZ
Re Hays
McPhail v Doulton
Burrough v Philcox
9
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
10
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
11
What is capital?
Lump sum
Income
Interests
Rent
Something that generates income
12
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
13
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
14
Which case held that the trustees must exercise the discretion themselves?
Re Hays
McPhail v Doulton
Turner v Turner
Burrough v Philcox
Re Baden
15
Which case held that the trustees must make appropriate inquiries?
Re Hays
Re Lockers ST
Burrough v Philcox
Re Baden
Re Allen Mayricks Trust
16
What type of trust is in Burrough v Philcox?
Large discretionary trust
Large active trust
Small family discretionary trust
Bare trust
Constructive trust
17
What type of trust was in Re Baden?
Large discretionary trust
Small discretionary trust
Small family discretionary trust
Large fixed trust
Small fixed trust
18
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
19
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
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 Vautier
Mettoy Pension Trustees v Evans
McPhail v Doulton
Re Lockers ST
Re Allen Mayricks Trust
21
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
22
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
23
When did large discretionary trusts first appear?
50 years ago
10 years ago
40 years ago
60 years ago
20 years ago
24
Which of these does not have a duty to distribute?
Fixed trust
Power of appointment
Discretionary trust
25
Which of these does not have discretion?
Discretionary trust
Power of appointment
Fixed trust
26
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
27
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
28
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
29
What type of trust is this "To my children in equal shares"?
Discretionary trust
Bare trust
Fixed trust
Constructive trust
Power of appointment
30
What are public trusts for?
Charities
Private individuals
Those who can't decide where their money should go
Government trusts
Remedial devices
Suggested by
Diamondsareforever
on
Quizz.biz
for
www.chestnutridge.co.uk
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