Help needed with these Equity and Trusts questions Watch

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Report Thread starter 4 years ago

I was just wondering if anyone can clarify to me what topics these questions are on, and if possible, a simple structure to organise an answer. The only reason I'm asking is because this topic is taught so bad at my University, and i'm struggling so much. If anyone can help it'd be greatly appreciated.

1. Thelma and Louise are sisters. Louise has three sons: one attends a private school; another is a university undergraduate; and the third is following a vocational course at an art college. Knowing that Louise is short of money, Thelma writes out a cheque for £10,000 and hands it to Louise with the words: “You are to use this money for my nephews’ education and for nothing else”. Louise gratefully accepts the money. A month later Thelma is shocked to discover that Louise has used the money to book a luxury cruise for herself.

Advise as to the legal effects of the above and any possible legal action against Louise that could be taken, whether by Thelma or by others.

(Now I feel like this topics in on the 3 certainties, but I don't know if it is, and i can't distinguish the difference between a trust and a gift)

2. John, a History graduate in 1958 of the University of Muncaster, has recently died leaving a will that contains the following dispositions:

a. “£50,000 to my trustees to hold for the assistance of such of my former lecturers as have fallen on hard times so that they may be guaranteed a comfortable standard of living”

b.“Anything that is left from my estate to be used generally for charitable and worthy causes in the North of England”.

Advise as to the validity of these dispositions and the consequences of their invalidity.

(I believe this topic is on charitable purpose trusts, and I just want clarification that the area of charity is right etc)

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Report 4 years ago
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