Law Problem Question
Hi, I have been given the following problem question as part of the Equity and Trusts module....
1. Erin contributes £10,000 towards the purchase of her friend, James’ house. She does so on the understanding that James would recognise that a trust has been created in Erin’s favour, but James fails to ever note this.
Erin agrees to sell her equitable interest in Photos ‘r’ us shares, to Orla for £1,000. Orla transfers over the £1,000 immediately, but after this, Erin and Orla fall out. Erin refuses to transfer the shares over to Orla.
Erin transfers £10,000 to Michelle. Erin texts Michelle to say that “the money I have transferred is to be held on trust for the good people of Derry. Any confusion on this can be solved by Sister Michael.”
Identify any potential claims.
If someone can help me by stating what they think each paragraph covers e.g. three certainties, formalities etc- that would be great
1. Erin contributes £10,000 towards the purchase of her friend, James’ house. She does so on the understanding that James would recognise that a trust has been created in Erin’s favour, but James fails to ever note this.
Erin agrees to sell her equitable interest in Photos ‘r’ us shares, to Orla for £1,000. Orla transfers over the £1,000 immediately, but after this, Erin and Orla fall out. Erin refuses to transfer the shares over to Orla.
Erin transfers £10,000 to Michelle. Erin texts Michelle to say that “the money I have transferred is to be held on trust for the good people of Derry. Any confusion on this can be solved by Sister Michael.”
Identify any potential claims.
If someone can help me by stating what they think each paragraph covers e.g. three certainties, formalities etc- that would be great
Hi,
Can you share your own ideas first please.
Can you share your own ideas first please.
Original post by Bitesizelaw
Hi,
Can you share your own ideas first please.
Can you share your own ideas first please.
I am unsure what each paragraph covers, that is why I was asking, so then I can research further into those areas and answer the question.
Original post by Diversion1000
I am unsure what each paragraph covers, that is why I was asking, so then I can research further into those areas and answer the question.
o.k. If you have nothing to give contributors to work on, try looking back at your lecture outlines and seminar notes to refresh your memory of the key topics you have covered. Then look for key words/phrases in the scenario. For example, 'E contributes to the ..purchase ...of [a] house... ' That should enable to to start your research.
(edited 4 years ago)
Original post by Mimir
This is a BPP/ULaw problem question. You'll get the answer in your next tutorial, but really should read the chapter first, which will help you answer the question.
Thanks Mimir! I find it odd that students post seminar questions when they have the opportunity to discuss their difficulty/ queries with their tutor. BSL
Original post by Diversion1000
Hi, I have been given the following problem question as part of the Equity and Trusts module....
1. Erin contributes £10,000 towards the purchase of her friend, James’ house. She does so on the understanding that James would recognise that a trust has been created in Erin’s favour, but James fails to ever note this.
Erin agrees to sell her equitable interest in Photos ‘r’ us shares, to Orla for £1,000. Orla transfers over the £1,000 immediately, but after this, Erin and Orla fall out. Erin refuses to transfer the shares over to Orla.
Erin transfers £10,000 to Michelle. Erin texts Michelle to say that “the money I have transferred is to be held on trust for the good people of Derry. Any confusion on this can be solved by Sister Michael.”
Identify any potential claims.
If someone can help me by stating what they think each paragraph covers e.g. three certainties, formalities etc- that would be great
1. Erin contributes £10,000 towards the purchase of her friend, James’ house. She does so on the understanding that James would recognise that a trust has been created in Erin’s favour, but James fails to ever note this.
Erin agrees to sell her equitable interest in Photos ‘r’ us shares, to Orla for £1,000. Orla transfers over the £1,000 immediately, but after this, Erin and Orla fall out. Erin refuses to transfer the shares over to Orla.
Erin transfers £10,000 to Michelle. Erin texts Michelle to say that “the money I have transferred is to be held on trust for the good people of Derry. Any confusion on this can be solved by Sister Michael.”
Identify any potential claims.
If someone can help me by stating what they think each paragraph covers e.g. three certainties, formalities etc- that would be great
How did you tackle this question?
Original post by Bitesizelaw
o.k. If you have nothing to give contributors to work on, try looking back at your lecture outlines and seminar notes to refresh your memory of the key topics you have covered. Then look for key words/phrases in the scenario. For example, 'E contributes to the ..purchase ...of [a] house... ' That should enable to to start your research.
Hi Diversion100,
How did you get on? You haven't shared anything but I'm assuming that you have had your tutorial by now.
Here are my ideas. I don't have the benefit of being able to read your learning materials and I also don't know what stage of the course you have reached so it isn't easy for me to identify exactly which points your tutor wants you to discuss in depth.
1. How a resulting trust / constructive trust can arise (Lloyds Bank v Rosset) and LPA 1925 ss. 53(1)(b) and 53(2).
2. I assume that you are required to focus on whether the transfer has actually occurred rather than the breach of contract aspect. Apply LPA 1925, s.53(1)(c). Transfer of legal title to the shares isn't what was intended so the phrase 'refuses to transfer the shares' is a red herring (I think!).
3. No problem with constitution or certainty of intention. Formalities are also not an issue. Issue relates to certainty of subject matter (the beneficial interest) and certainty of objects. I think the question is assuming you will discuss Re Tuck.
Original post by Bitesizelaw
Hi Diversion100,
How did you get on? You haven't shared anything but I'm assuming that you have had your tutorial by now.
Here are my ideas. I don't have the benefit of being able to read your learning materials and I also don't know what stage of the course you have reached so it isn't easy for me to identify exactly which points your tutor wants you to discuss in depth.
1. How a resulting trust / constructive trust can arise (Lloyds Bank v Rosset) and LPA 1925 ss. 53(1)(b) and 53(2).
2. I assume that you are required to focus on whether the transfer has actually occurred rather than the breach of contract aspect. Apply LPA 1925, s.53(1)(c). Transfer of legal title to the shares isn't what was intended so the phrase 'refuses to transfer the shares' is a red herring (I think!).
3. No problem with constitution or certainty of intention. Formalities are also not an issue. Issue relates to certainty of subject matter (the beneficial interest) and certainty of objects. I think the question is assuming you will discuss Re Tuck.
How did you get on? You haven't shared anything but I'm assuming that you have had your tutorial by now.
Here are my ideas. I don't have the benefit of being able to read your learning materials and I also don't know what stage of the course you have reached so it isn't easy for me to identify exactly which points your tutor wants you to discuss in depth.
1. How a resulting trust / constructive trust can arise (Lloyds Bank v Rosset) and LPA 1925 ss. 53(1)(b) and 53(2).
2. I assume that you are required to focus on whether the transfer has actually occurred rather than the breach of contract aspect. Apply LPA 1925, s.53(1)(c). Transfer of legal title to the shares isn't what was intended so the phrase 'refuses to transfer the shares' is a red herring (I think!).
3. No problem with constitution or certainty of intention. Formalities are also not an issue. Issue relates to certainty of subject matter (the beneficial interest) and certainty of objects. I think the question is assuming you will discuss Re Tuck.
3 years ago… I have only just seen this haha! Scraped a 2:1 in that module, it was not my strongest, but it did not affect my degree results whatsoever. Thank you for your help.
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