Deck 12: Remedies for Breach of Trust Against Trustees

Question 1

A trustee is subject to a number of duties, of both a fiduciary and non-fiduciary nature.

Answer 1

True

Question 2

What is 'equitable compensation'?

Answer 2

No Answer.

Question 3

What is 'restoration' of a trust?

Answer 3

No Answer.

Question 4

What happens if one trustee leaves a matter to a co-trustee without enquiring as to what has happened and a breach of trust occurs?

Question 5

What did Staughton LJ recognised in Nestle v National Westminster Bank plc?

Question 6

An exemption clause may either exclude entirely or otherwise restrict a trustee's liability for breach of his duties in carrying out the trust.

Question 7

As equitable compensation is a personal right of action against the trustee, it is only worth pursuing such a remedy if the trustee is solvent.

Question 8

For a trustee to be liable for breach of trust, it must be shown that the trust fund has suffered loss.

Question 9

A breach of trust will have occurred when 'the trustees made decisions which they should not have made or failed to make decisions which they should have made'.

Question 10

When is a summary judgment given?