Trusts

By Joanna

If T leaves property to L in his will, but on the oral understanding that L shall hold on trust for B, then a trust will be enforced by the court if L denies liability "Then the trust will be ineffective" exclaimed George Wickham and continued reading: "It will be effective!" groaned he on reading the next line It would be fraudulent for L to keep the property, when he has agreed to accept the trust and in all probability the property was left to him only because he had agreed to hold on trust. The case is similar to the inter vivos transfer in Bannnister v. Bannister where the trust was not in writing. It may be noted… "I don't get this chapter, maybe I'll just move to the next one." Expressed loudly his thoughts George.

The doctrines do appear to operate in somewhat different circumstances "Thank God!" murmured Wickham and read on: The common intention operates rather like a contract: the parties agree to purchase property so as to lead to their both acquiring interests in it. There may not be a contract, but there is a mutuality of purpose. "This chapter is much better." Said George to himself. The typical estoppel claim is very different: either C operates under mistaken assumption or else O makes a representation that C relies upon. "Where did that come from? Once more: The common intention operates rather like a contract: the parties agree to purchase property so as to lead to their both acquiring interests in it. There may not be a contract, but there is a mutuality of purpose. The typical estoppel claim is very different: either C operates under mistaken assumption or else O makes a representation that C relies upon. "Oh, no. I don't get it!"

He heard steps on the stairs. "It's Mr Stiff-Upper-Lip" thought George. The door opened: "William, how was your day?" exclaimed he.

Oh, no, thought Fitzwilliam, he has an exam and doesn't understand the material. He wants help, as always. Dad, why are you doing this to me? Can't I live alone or with someone I like? groaned he in his thoughts.

"George, what is it that you want me to help you with?"

"You don't need to be that straightforward. Haven't you been taught some manners?"

"Good day, George." Came the reply, of Darcy who was quitting the room.

"William, wait. I am so depressed. I must pass that exam and I don't understand a word from property law." Whined Wickham.

Thank God, his father owns nothing. His dear son would lose it in ten minutes. Ney, ten seconds. thought Darcy but said:

"Show me what you don't understand."

"This one for instance." Said George pointing on the causa mortis trusts.

"Fine. Imagine. My father leaves me Pembereley Cottage. That's what the will says. He dies. However, before he does, he says that the cottage is left to me in trust for you. You have the right to claim this cottage from me. Understood?"

"And if I die?"

"If you die before my father, then the trust is no longer valid, if you die later, your heir inherits it and can claim this cottage from me."

"Good, that's good."

"What's good?"

"Nothing…, oh that you understand it."

"Do you?"

"Well, .... I do. William, there is someone waiting for me. I have to go."

"Right." Some girl added William in his thoughts. He is not going to pass this exam. But then again., that's not my problem.

****************************

Wickham was walking across the yard of the college. What will Darcy come from knowing all that stuff? I prefer to be popular with girls. It pays back. Some voice he had never heard before replied: You will be paid back with plenty of children, you will be unable to support. Fitzwilliam Darcy will come out much better. "Oh, shut up!" exclaimed George, walking faster to meet Polly Baxter in the Inn.

THE END