Difficult Equity and Trusts Question!

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wood675
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Lawschoolhack
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Start by identifying the core issues and then do your research. The coursework covers several topics.
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wood675
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(Original post by Lawschoolhack)
Start by identifying the core issues and then do your research. The coursework covers several topics.
Hi! Could you elaborate a little? I am really struggling with this, thanks!
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Lawschoolhack
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Start by identifying the general topic. For example, the trustees have been asked to re-settle R's share in the trust fund and pay income to S (on demand). So start researching whether trustees have the power to take capital from the trust fund and re-settle it and whether they must pay income to a minor on request.

You need to get your head around what is actually happening from the facts. So unpick them carefully. The questions provide guidance as to what the examiner requires you to disucss. For example question (a) asks if the bens can take any action against the trustees so look for a possible breach or breaches of the trustees' duties.
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wood675
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(Original post by Lawschoolhack)
Start by identifying the general topic. For example, the trustees have been asked to re-settle R's share in the trust fund and pay income to S (on demand). So start researching whether trustees have the power to take capital from the trust fund and re-settle it and whether they must pay income to a minor on request.

You need to get your head around what is actually happening from the facts. So unpick them carefully. The questions provide guidance as to what the examiner requires you to disucss. For example question (a) asks if the bens can take any action against the trustees so look for a possible breach or breaches of the trustees' duties.
Wow that’s brilliant that actually helps a lot!! Thanks so much 🙂
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Lawschoolhack
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#6
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Hopefully you managed to work it out.

Part 1 - breach of fiduciary duty
Part 2 - duty of care in relation to investments (TA 2000 ss.1, 4 & 5 in particular ) and maintenance and advancement (TA1925, ss. 31 and 32).
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wood675
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(Original post by Lawschoolhack)
Hopefully you managed to work it out.

Part 1 - breach of fiduciary duty
Part 2 - duty of care in relation to investments (TA 2000 ss.1, 4 & 5 in particular ) and maintenance and advancement (TA1925, ss. 31 and 32).
I really appreciate your help, I’ve managed to do most of the coursework, I am just struggling on the first question relating to the lease in favour of Thomas, do you think that would be a breach of fiduciary duty? Thanks!
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CarolineMills99
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Hey, I am also doing the same coursework question and I am finding it hard to answer question 2. Were you able to figure it out? If so are you able to help me.

Thank you
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CarolineMills99
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(Original post by wood675)
I really appreciate your help, I’ve managed to do most of the coursework, I am just struggling on the first question relating to the lease in favour of Thomas, do you think that would be a breach of fiduciary duty? Thanks!
To answer your first question, I spoke about how Thomas was in a breach of a fiduciary duty as he broke the no conflict rule. He advised the trustees to purchase the freehold then he purchased the lease two years after in his personal capacity which means he put his best interests over the trusts'.

Hope this helps!
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CarolineMills99
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(Original post by CarolineMills99)
To answer your first question, I spoke about how Thomas was in a breach of a fiduciary duty as he broke the no conflict rule. He advised the trustees to purchase the freehold then he purchased the lease two years after in his personal capacity which means he put his best interests over the trusts'.

Hope this helps!
I am a new member so I cant reply to your Pm! But yes I am a student there and I have seen what you're talking about. Thank you so much! How did you get on with the 1st question?
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wood675
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(Original post by CarolineMills99)
I am a new member so I cant reply to your Pm! But yes I am a student there and I have seen what you're talking about. Thank you so much! How did you get on with the 1st question?
It’s a little bit difficult to get your head around, but i spoke about how the purchase of ‘tong lodge’ was a breach of duty since trustees cannot buy trust property, and also the purchase of ‘the barn’ is not a breach, because bethany purchased it before she was a trustee!
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CarolineMills99
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Oh good. I did the same but I wasn't 100% sure on Thomas' part of the question so thank you so much for reassuring me! Thanks for your help and good luck! I'll be happy to return the favour if you need help too!
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Lawschoolhack
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(Original post by CarolineMills99)
Oh good. I did the same but I wasn't 100% sure on Thomas' part of the question so thank you so much for reassuring me! Thanks for your help and good luck! I'll be happy to return the favour if you need help too!
(Original post by wood675)
It’s a little bit difficult to get your head around, but i spoke about how the purchase of ‘tong lodge’ was a breach of duty since trustees cannot buy trust property, and also the purchase of ‘the barn’ is not a breach, because bethany purchased it before she was a trustee!
There is a breach by Bethany IMO.
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adrian1999
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(Original post by Lawschoolhack)
There is a breach by Bethany IMO.
Can you please explain how?? Thank you
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adrian1999
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(Original post by wood675)
I really appreciate your help, I’ve managed to do most of the coursework, I am just struggling on the first question relating to the lease in favour of Thomas, do you think that would be a breach of fiduciary duty? Thanks!
Would you mind helping me with Q2 please? Have the same question and it’s confusing asf
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Lawschoolhack
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(Original post by adrian1999)
Would you mind helping me with Q2 please? Have the same question and it’s confusing asf
See if my earlier posts help re Q2 .
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Lawschoolhack
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(Original post by adrian1999)
Can you please explain how?? Thank you
IMO the fact that she bought the property before becoming a trustee is irrelevant. However, the issue is whether the valuations protect her.
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adrian1999
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(Original post by Lawschoolhack)
IMO the fact that she bought the property before becoming a trustee is irrelevant. However, the issue is whether the valuations protect her.
Thank you, managed to answer Q2 and your comments were really helpful!
Regarding Q1 and Bethany, can you please explain a little bit more... is it still the breach of fiduciary duty we are also talking about here? Or another breach? A little confused
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Lawschoolhack
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(Original post by adrian1999)
Thank you, managed to answer Q2 and your comments were really helpful!
Regarding Q1 and Bethany, can you please explain a little bit more... is it still the breach of fiduciary duty we are also talking about here? Or another breach? A little confused
breach of fiduciary duty
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adrian1999
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(Original post by Lawschoolhack)
breach of fiduciary duty
How would the valuations result to a breach by Bethany? I don’t quite understand...
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