Is the only issue here certainty of subject matter? (Equity and Trusts)
Arnold seeks your advice as to the equitable ownership of the various
items of property.
(i) On 2 April, Dipali decided to settle £10,000 on trust for Arnold as
sole beneficiary. Dipali held £20,000 in her only bank account. Dipali
declared that: “henceforth, £10,000 in my bank account shall be
deemed to be held on trust for Arnold, and the other £10,000 shall
be deemed to be held on trust for my niece Varsha”.
items of property.
(i) On 2 April, Dipali decided to settle £10,000 on trust for Arnold as
sole beneficiary. Dipali held £20,000 in her only bank account. Dipali
declared that: “henceforth, £10,000 in my bank account shall be
deemed to be held on trust for Arnold, and the other £10,000 shall
be deemed to be held on trust for my niece Varsha”.
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