During that time the streams of common law and equity have flown together and combined so as to be indistinguishable the one from the other. We have no longer to ask ourselves: what would the courts of common law or the courts of equity have done before the Judicature Act? We have to ask ourselves: what should we do now so as to ensure fair dealing between the parties? [59] Lipkin Gorman v Karpnale Ltd, 1991: where third party receives misapplied trust money, why should she be at fault before she can be required to restore trust fund? If you specialise in equity and trusts, you may find yourself making sure charities are correctly spending donated funds or resolving conflicts between families. Granted prior to a court hearing because plaintiff may suffer un-repairable damage if right is breached which cannot be compensated by money. The plaintiff must prove to the judge that there is sufficient reason to believe that the damage will be caused to them.

this gift by endorsing on the lease of the business premises a short memorandum: "This deed" Allows use of Common Law defence against basic primary equitable claim. Eg. If T breaches equitable duty of care not to be negligent, in managing investment fund, but beneficiaries are negligent as well, T might counter Bs' equitable claim with Common Law defence of contributory negligence. The 15th century, not only saw the work of the Chancery come to be characterised by the Use, but it began to give the Use some of the hallmarks of an interest in property. Eg, while it was still purely based on the conscience of the feoffee, where all of the feoffees died, the heir of the last one to die remained bound. Likewise, rules like that of Equity's darling, began to emerge in the 1450s. Indeed, possibly as early as 1465, it is even possible to see something that strongly resembles the modern resulting trust. [13] Early modern embedding [ edit ] Henry VIII, fiscal feudalism and the Use [ edit ] Wills of Land [ edit ] These types of trusts arise by operation of law. They are not created expressly or deliberately by a Particularly because of the effect of (5) above on the Crown, Henry VIII enacted the Statute of Uses 1536, attempting to remove these advantages of uses.

Indicative reading

Roman law had a well-developed concept analogous to the trust called fideicommissa. These were created by will and enabled a testator to leave property to one person who was obliged to hand it over to another. While they were much older, they only began to create enforceable legal obligations around the time of the beginning of Roman Empire when Claudius charged the Consuls with enforcing fideicommissa, which were previously seen as merely morally binding. [1] They had the advantage that whereas only the testator's heir could be charged with a legacy, legatees themselves could be charged with fideicommissa. They also allowed those would otherwise have been ineligible to inherit (like proscribed persons and foreigners) to inherit from the testator. [1] The trustee has a fiduciary obligation towards the beneficiary. It is a duty to act with loyalty in

The early modern period and the 17th century in particular, was critical in the shifting from a system based purely on the Chancellor's conscience to one based on predicable (if perhaps sometimes flexible) rules as Equity is today. Indeed, the idea of the Chancellor's conscience being the sole deciding factor provoked the jurist John Selden to make the famous comment above, which is now commonly cited in legal circles as "The Chancellor's foot". [45] [46] The critiscm predated Selden, however. It is evident in the treatise Doctor and Student of the previous century. This intellectual pressure began to, slowly, harden Equity from purely based on the conscience of one man and to start to resemble a system of rules by the start of the 17th century18 The history of equity and trusts concerns the origin of the body of rules known as Equity, Uses, English trust law and their development into the modern body of trust law that spread with the Common law to the Commonwealth and the United States. Analyses recent developments in the law relating to the grant of interlocutory injunctions and specific performance. The Common Law, however, would not take notice of uses. One effect of this, as Baker notes, is that uses could be utilised to put land outside the reach of creditors. [11] Another effect, however, is that it left those enttiled to the benefit of the land (called the cestui que use) without recourse in the Common Law courts. Initially, Uses would have been a mere matter of morality. It was only by appointing several notable local people, threatened with the shame of depriving another of their inheritance, that due execution of the use could be guaranteed.It’s common for a settlor to give their partner access to this kind of trust in their lifetime, with any assets but the trust has failed for some reason. The transferee/trustee holds the legal title of the property These types of resulting trusts are also referred to as failed trust resulting trusts. (Vandervell v in any way she may think best, for the benefit of herself and her family" The Court held that

Courts of Chancery is not bound by Common Law rules of evidence, but can look to substantive merits (different view of evidence and procedure)Three stage test on granting interlocutory injunctions was introduced in the English case (American Cyanamid) this was accepted and followed as law in the Irish case (Campus Oil V The Minister for Energy) : This well-established and respected textbook has been relied upon by students and academic scholars for the last 40 years. Praised for the clarity of the writing, the comprehensive scope of the content and the high level of critical analysis, Professor Philip Pettit builds on the strengths of the book to offer students a rigorous and yet readable account of equity and trusts law. This book is part of a series of 8 textbooks that have been specially designed to cover academic law for students converting to law. Published and updated regularly, these user-friendly study manuals are designed to help you successfully acquire knowledge and understanding of the foundational law of England & Wales. Tie up property to benefit persons in succession - ensure the property passes down the way you want BUT note that the 2 approaches of Common Law and equity might not really be alike - if judges are allowed to borrow ideas across the divide, they must be sensitive to the real substantive differences between jurisdictions. There may be good reasons to justify why equitable remedies are fault based - in Common Law contract, parties are expected to be vigilant (thus have partial defences like contributory negligence), but under equitable trust rules, there is no similar basis