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LW361 EQUITY & TRUSTS - UG module template 2007

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LW361 EQUITY & TRUSTS - UG module template 2007 ...

    LW361 BRIGHTON BUSINESS SCHOOL

    MOULSECOOMB MODULAR SCHEME

TITLE: Equity and Trusts

    LEVEL: 3

    CREDIT SUBJECT AREA: 20 Law RATING:

    MODULE TYPE: SEMESTER OFFERED: Double 1 through 2 Course(s) for which module is acceptable and status in course:

     LLB(Hons) Law with Business - COMPULSORY

     BA(Hons) Law with Accountancy COMPULSORY (until 2010)

     BA(Hons) Law with Business COMPULSORY (until 2010) PRE-REQUISITES:

    LW162- Legal Institutions & Method

    AIMS:

    ? To consider the history and nature of equitable ownership and provide an

    understanding of equitable principles and remedies. ? To provide knowledge of the requirements for the formation of a private trust. ? To study the current relevance and importance of the main types of private

    trust and purpose trusts.

    ? To examine the office of trustee and appreciate the duties and powers of the

    trustee and the consequences of a breach of trust. LEARNING OUTCOMES:

    On completion of this module a student should be able to:

Subject specific:

? Identify the principal uses of the trust today and the nature of equitable

    ownership and remedies.

    ? Demonstrate knowledge of the formation of a valid private trust ? Distinguish between the various types of private trust and understand the

    relationship of trusts and land law in the area of the apportionment of

    beneficial interests in family property.

    ? Compare charitable and non-charitable purpose trusts. ? Demonstrate an understanding of the office of trustee and the duties and

    powers attaching to that office and the consequences of a breach of trust.

Cognitive:

? Apply knowledge to complex situations.

    ? Locate, extract and analyse information from multiple sources, including the

    acknowledgement and referencing of sources. To select key issues, formulate

    them with clarity and write fluently, using legal terminology correctly.

    ? Demonstrate a capacity for critical evaluation of argument and evidence with

    the ability to recognise potential alternative conclusions for particular

    situations, and provide supporting reasons for them. ? Engage in academic debate in a professional manner and use a range of

    formats mainly written to present specialist material. ? Make personal and reasoned judgments based on an informed understanding

    of standard arguments in certain areas of law. ? Act independently in planning and managing tasks, identify necessary

    resources, and reflect critically on their own learning. ? Communicate effectively, both orally and in writing, in a form appropriate to the

    intended audience.

    ? Use standard paper and electronic resources to produce up to date

    information and to conduct efficient searches of websites in order to locate

    relevant information.

    CONTENT:

    Introduction:

    ? Historical outline of equity; the nature of equitable ownership, remedies and

    maxims.

    ? Classification of trusts.

    ? Principal uses of a trust.

The Express Trust:

    ? The formation of an express private trust. ? The three certainties; statutory formalities. ? Capacity.

    ? Completely and incompletely constituted trusts. ? Exceptions to the maxim that 'Equity will not perfect an imperfect gift'.

Resulting Trusts:

    ? Automatic and presumed resulting trusts. ? Surplus funds.

    ? Presumption of advancement.

    ? Reform.

Constructive Trusts:

    ? Equitable remedy or substantive institution. ? Constructive trusts arising from trustee or fiduciary making an unauthorised

    profit; mutual wills; specifically enforceable contracts. ? Liability of strangers who assist in a breach of trust or receive property in

    breach of trust.

Ownership of the Family Home:

    ? Acquisition of a beneficial share in the family home.

    ? Quantification of the beneficial interest.

    ? Reform.

Secret Trusts:

    ? Fully secret trusts; half secret trusts.

    ? Justifying the enforcement of secret trusts.

    Charitable and Non-Charitable Purpose Trusts:

    ? Introduction.

    ? Unenforceable trusts.

    ? Charitable trusts: privileges enjoyed; defining charitable trusts; the

    requirement of public benefit; the cy-pres doctrine.

    ? Trustees:

    ? The office of trustee; duties and powers of a trustee; consequences of a

    breach of trust and remedies.

    TEACHING & LEARNING STRATEGIES:

    The module will consist of lectures supported by seminars. The lectures will

    introduce the students to key legal principles and issues. Students will normally be

    given descriptive and/or problem-solving questions to prepare for seminars and will be expected to thoroughly research and read round the topic of the seminar, and to

    prepare detailed answers to the questions. In the seminars, the students may be

    asked to present their answers individually, or in small groups, or in the form of a debate or moot.

     Lectures: 20 Open learning: 0

     Seminars: 20 Self study: 120

     Workshops: 0 Assessment: 40

     Total: 200 LEARNING SUPPORT:

Indicative Reading:

Primary Sources

    Law reports, statutes & statutory instruments.

Books

    The latest editions of:

Hanbury, H.G., Modern Equity, Thomson

    Haley, M. & McMurty, L., Equity & Trusts, Thomson Hudson, A., Equity & Trusts, Cavendish

    Pearce, R.A. & Stevens, J., The Law of Trusts & Equitable Obligations, Oxford Ramjohn, M., Unlocking Trusts, Hodder Arnold

    Todd, P. & Wilson, S., Trusts, Oxford Watt, G., Trusts & Equity, Oxford

    Hayton, D.J. & Marshall, O.R., Cases & Commentary on the Law of Trusts, Thomson

    Ramjohn, M., Sourcebook on Trusts Law, Cavendish

    Todd, P. & Watt, G., Cases & Materials on Equity & Trusts, Oxford

Periodicals and Journals

    Cambridge Law Journal

    Conveyancer

    Law Quarterly Review

    Law Society Gazette

    Legal Studies

    Modern Law Review

    New Law Journal

    Oxford Journal of Legal Studies

    Solicitors’ Journal

Information Technology

    Halsbury’s Laws of England On-Line

    Lawtel

    Westlaw

    ASSESSMENT:

    Coursework (30%): an individual piece of written work (2,000 - 2,500 words)

    Examination (70%): a three hour unseen examination

BRIEF DESCRIPTION OF THE MODULE:

    This double module gives an in-depth understanding of the law of trusts and

    equitable principles which will enable students to claim exemption for this subject

    before proceeding to professional examinations (subject to other general requirements).

    Area External Examination Law S.Murdoch Examiner: Board:

    Brighton Site where Faculty: Business School; Moulsecoomb delivered: MIS.

    Module J.Riches Writer(s):

    Date of First Date of Last 2002 May 2007

Approval: Revision:

Version Number 4

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