Module description
This module provides an introduction to equity and trusts, with a focus on the law of trusts. This includes a study of the nature of equity, trusts, and powers, equitable remedies, fiduciaries, the duties of trustees, the rights of trust beneficiaries and the objects of powers, the creation of trusts by intention and by operation of law, the liability of trustees for breach of trust, the liability of others who assist a breach of trust or receive misapplied assets, and rights to recover misapplied assets or their traceable proceeds.
Equity is the body of law that was developed by the Court of Chancery until the English courts were merged in 1875. It continues to thrive as an important part of our legal system. The trust developed as part of equity as a device for managing land and other assets. It plays many roles in modern society, such as managing and distributing family wealth and pension funds, facilitating commercial transactions, and regulating the shared ownership of land. Throughout the course, we shall give you a thorough grounding in the relevant legal principles and their theoretical background, while also emphasizing the practical and commercial relevance of the subject,
The Law of Trusts is related to the Law of Property (6FFLK002). Students intending to take both modules are advised to take them concurrently.
The Law of Trusts is a core foundation subject that must be covered before one can proceed to the Bar Professional Training Course or Legal Practice Course. It is compulsory for a qualifying law degree for the purposes of practice in England and Wales.
Assessment details
Examination (70%); 3,000-word Essay (30%)
Teaching pattern
Lectures (2 x 1 hour per week), Tutorials (1 x 1 hour per week), Seminars (4 x 2 hour per year).
Suggested reading list
Jamie Glister and James Lee, Hanbury and Martin: Modern Equity
(22d edition, Sweet and Maxwell 2021).