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. In a trust, which of the following statements does not apply to trustees?

The trustees hold the legal estate correct incorrect

The trustees hold the equitable interest only correct incorrect

The trustees hold both the legal estate and the equitable interests correct incorrect

The trustees pay income to the beneficiaries correct incorrect

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. Which of the following would a trust not be useful for?

To hold a pension fund correct incorrect

To provide for children correct incorrect

To allow the shared ownership of land correct incorrect

To form a company correct incorrect

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. The decision in Don King v Warren 1998 2 All ER 630 was that…

Land can be held on trust correct incorrect

Chattels can be held on trust correct incorrect

The rights and benefits under a contract can be held on trust correct incorrect

A chose in action can be held on trust correct incorrect

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. According to Lord Browne-Wilkinson's definition of a trust in Westdeutsche Landesbank Girozentrale v Islington London Borough Council [1996] AC 669, which of the following is an essential requirement of a trust?

The conscience of the legal owner must be affected correct incorrect

There must be identifiable trust property correct incorrect

There must be a declaration of trust correct incorrect

The trust is recognized by the law correct incorrect

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. Which of the following is not a type of trust recognized by equity?

Secret trust correct incorrect

Discretionary trust correct incorrect

Express trust correct incorrect

STAR Trust correct incorrect

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. In which of the following situations will a resulting trust apply?

Two people purchase a house and both contribute to the purchase price correct incorrect

A tricks B into giving A money correct incorrect

A promises B that, if B leaves money in his will to A, A will give that money to C correct incorrect

A states that he will hold a sum of money for B correct incorrect

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. For which type of property must a declaration of trust be proved by writing?

Shares correct incorrect

Contractual rights correct incorrect

Land correct incorrect

Milk quotas correct incorrect

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. In Barclays Bank v Quistclose 1970 567 it was held that:

There was a only a contractual arrangement correct incorrect

There was a constructive trust correct incorrect

There was first an express trust, which failed, giving rise to a resulting trust correct incorrect

There was a resulting trust correct incorrect

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. In Twinsectra v Yardley 2002 AC 164, it was held by Lord Millett that:

There was only a contractual arrangement correct incorrect

There was a constructive trust correct incorrect

There was first an express trust, which failed, giving rise to a resulting trust correct incorrect

There was a resulting trust, where the borrower held the property on trust for the lender correct incorrect

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. Both personal representatives and trustees hold property on trust for beneficiaries. What is the difference between these two kinds of trust?

Personal representatives hold upon statutory trusts correct incorrect

When personal representatives hold the property, the beneficiaries do not have beneficial interests correct incorrect

The beneficiaries under a will have greater rights than the beneficiaries under an ordinary trust correct incorrect

Trustees cannot be sued, personal representatives can correct incorrect