[vgill007]

Hi all,

This is my first attempt at using this forum. My name is Vince and I am a second year law student at Nottingham Trent. I wonder if some can help and point me in the right direction with my present assignment.

The question is as follows:

On 1 June 2002, Sam, Tommy and Teresa executed a trust deed in which Sam appointed Tommy and Teresa to be trustees of a trust, with the trust property to be held in trust for Sam’s children Felicity and George. Sam did not transfer any property to Tommy and Teresa on 1 June. However, in the deed, he promised that he would put into the trust:

(a) £50,000;
(b) his equitable interest under a trust set up by his aunt Fanny (Anne and Albert are trustees of that trust); and
(c) any property he received under the will of his uncle Harry.

On 4 June 2002, Sam sent Tommy and Teresa an envelope containing a cheque for £50,000 and a scrap of paper which simply read: ‘I Sam assign to you Tommy and Teresa my equitable interest under Auntie Fanny’s trust’. The cheque was not cleared by the bank, as there were insufficient funds in Sam’s account.

On 30 June 2002, uncle Harry died. His will appointed Tommy and Teresa to be his executors, and left the residue of his estate to Sam. Tommy and Teresa wound up Harry’s affairs in April 2003. The value of the residue of uncle Harry’s estate is about half a million pounds. In the meantime, Sam quarrelled with Felicity and George. He claims that he is entitled to uncle Harry’s residue and remains entitled to the equitable interest under Fanny’s trust.

Tommy and Teresa are sympathetic to Felicity and George and want to:

(a) assert that both the residue and the interest under aunt Fanny’s trust are now subject to the trust of 1 June; and

(b) sue Sam for the £50,000.

Advise Tommy and Teresa.


Not lookig for the complete answer but just a place to start.

Cheers

[wiwarin_mir]

I have a feeling this thread will be moved as this thread is just for saying hello as there are many other sub-forums that contain all sorts of information.
I would suggest posting in the Acedemic sub-forum here.

Welcome to TSR (UKL) btw.

[vgill007]

(Original post by wiwarin_mir)
I have a feeling this thread will be moved as this thread is just for saying hello as there are many other sub-forums that contain all sorts of information.
I would suggest posting in the Acedemic sub-forum here.

Welcome to TSR (UKL) btw.

Thanks for the advise appreciate it!

[wiwarin_mir]

(Original post by vgill007)
Thanks for the advise appreciate it!

Well, extremally new members such as yourself will not know the forum very well, so helping you is almost mandatory for older members.