Exam 2: Classifi Cation of Trusts and Powers

A power of appointment may be exercised by the donee and a trust must be executed by the trustee.

Trusts can be set up either in the settlor's lifetime (inter vivos) or upon his death (via his will or by the laws of intestacy.)

Which of these statements is true:

Who are the three types of party that are normally required in order for a trust to function?

When does a constructive trust apply?

Which of these are types of express trust?

What was the name of the test enunciated by Lord Upjohn in Re Gulbenkian's Settlement?

What's the difference between fixed and discretionary express trusts?

In which case did the court imply a resulting trust as the entire equitable interest had not been used up?

What is the problem with giving someone temporary custody of your land?

Why are protective trusts difficult to create?

In which case did Lord Upjohn set out the 'basic difference' between a mere power and a trust power?

What are trusts used for today?

The common law recognises the mechanism of the trust.

In which two situations do resulting trusts occur?

Was a class of 'friends' held to be sufficiently certain in Re Barlow's Will Trust?

Does there have to be a human beneficiary to a trust?

When the trust is set up who owns the legal title to the property?

The common law recognises split ownership of property.

The maximum number of beneficiaries to a trust is 50.