Deck 6: Trust Formation: The Benefi Ciary Principle

Question 1

Trusts can exist for a purpose.

Answer 1

False

Question 2

What is an unincorporated association?

Answer 2

No Answer.

Question 3

Which jurisdiction has developed the STAR trust?

Answer 3

No Answer.

Question 4

What is the consequence for trusts for imperfect obligation as a result of the decision in Re Endacott (1960) Ch 232?

Question 5

What was held in Re Hooper (1932) 1 Ch 38?

Question 6

What are the three main categories of trusts for imperfect obligation?

Question 7

What are trusts of imperfect obligation?

Question 8

What is the rule against inalienability?

Question 9

What is the rationale behind the beneficiary principle?

Question 10

Name a case where it was held that a trust set up for a purpose would be void.

Question 11

What is the beneficiary principle?

Question 12

Which of these are exceptions to the beneficiary principle?

A)Charitable trusts
B)Trusts of imperfect obligation
C)Purpose trusts but which nonetheless have ascertainable beneficiaries
D)Onshore trusts

Question 13

Following cases such as Re Denley's Trust Deed (1969) 1 Ch 373 and Re Lipinski's Will Trusts (1976) 3 WLR 522, the more modern approach to the beneficiary principle is to recognise purpose trusts if it can be said that they benefit sufficiently well-defined individuals.

Question 14

Beneficiaries are essential to the trust, as someone must own the equitable interest of a trust.

Question 15

In which case did the court consider how an unincorporated association could hold property?