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Diagnostic test
Return to Equity & Trusts Concentrate 7e Student Resources
Diagnostic test
Quiz Content
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not completed
The position of Lord Chancellor was originally held by which type of person?
The King's courtiers
correct
incorrect
Military commanders
correct
incorrect
Religious officials
correct
incorrect
Queen's Counsel
correct
incorrect
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The equitable maxim 'He who seeks equity must do equity' deals with what type of behaviour?
The future behaviour of the claimant.
correct
incorrect
The past behaviour of the claimant.
correct
incorrect
The past behaviour of the defendant.
correct
incorrect
The future behaviour of the parties.
correct
incorrect
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Which of the following statements is true?
A protective trust is a type discretionary trust.
correct
incorrect
A beneficiary who is
sui juris
can end a protective trust.
correct
incorrect
If a protective trust ends then the property is held on a fixed trust.
correct
incorrect
Section 33 Trustee Act 1925 simplified the process for setting up a protective trust.
correct
incorrect
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Which of the following situations have
not
been recognized as constructive trusts?
Breach of pure contractual obligations.
correct
incorrect
Breach of a fiduciary duty.
correct
incorrect
Receiving property belonging to another.
correct
incorrect
Immoral gains.
correct
incorrect
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Which of the following statements best defines administrative unworkability?
It is not possible to prove who the beneficiaries are.
correct
incorrect
The trust is too complex for trustees to administer.
correct
incorrect
The definition of beneficiary is hopelessly wide.
correct
incorrect
It is not possible to find the beneficiaries.
correct
incorrect
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The final provision of Jess's will states:
"I leave the rest of my immense fortune to Zainab and Ibb on the understanding that they appoint, at their absolute discretion, the whole or any part of the property or its income to any UK born circus performers, their relatives and dependants.
Which statement best describes the following disposition?
This discretionary trust satisfies the tests for certainty of intention and subject matter, but not objects.
correct
incorrect
This discretionary trust satisfies the tests for certainty of subject matter and objects, but fails for administrative unworkability.
correct
incorrect
This discretionary trust satisfies the tests for certainty of intention and objects, but not subject matter.
correct
incorrect
This discretionary trust satisfies all three certainties of trust.
correct
incorrect
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Which statement most simply explains what is meant when a person is the absolute owner?
The person has full ownership of the property with no person having any other interest in it.
correct
incorrect
The person owns the beneficial and legal title to property.
correct
incorrect
The person has an interest under a bare trust.
correct
incorrect
The person is the sole trustee of a trust.
correct
incorrect
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How must an equitable interest be disposed of under the Law of Property Act 1925?
The transfer must be in writing and signed by the transferee or their agent otherwise it is void.
correct
incorrect
The transfer must be in writing and signed by the transferee or their agent otherwise it is valid but unenforceable.
correct
incorrect
The transfer can be oral as long as it is later manifested and proved in writing.
correct
incorrect
You cannot transfer an equitable interest.
correct
incorrect
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Can a valid trust of land be declared orally?
Yes.
correct
incorrect
No, the trust is void until it is in writing.
correct
incorrect
Yes, but it must be evidenced in writing before it becomes enforceable and signed by the person able to declare the trust.
correct
incorrect
Yes, but it must be evidenced in writing at before it becomes enforceable and signed by the person able to declare the trust or their agent.
correct
incorrect
*
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What are the ways to benefit another with an equitable interest according to
Timpson's Executors v Yerbury
[1936] 1 KB 645?
- Directly assign to a third party
- Contract for valuable consideration to assign to another.
correct
incorrect
- Contract for valuable consideration to assign to another
- Direct the trustees to hold for another
- Declare that the interest is held by the beneficial owner on trust for another.
correct
incorrect
- Directly assign to a third party
- Contract for valuable consideration to assign to another
- Direct the trustees to hold for another
- Declare that the interest is held by the beneficial owner on trust for another.
correct
incorrect
- Contract for valuable consideration to assign to another
- Declare that the interest is held by the beneficial owner on trust for another.
correct
incorrect
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Which of the following is the odd one out?
£10,000 for the care and comfort of the Conrad family's pets.
correct
incorrect
£10,000 to support the saying of private masses for the Conrad family.
correct
incorrect
£10,000 for the maintenance and upkeep of the Conrad family gravesites.
correct
incorrect
£10,000 to support the saying of masses for the Conrad family in Malvern Chapel.
correct
incorrect
*
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Which of the following cases is the odd one out?
Re Scarisbrack
[1951]
correct
incorrect
Re Niyazi's WT
[1973]
correct
incorrect
Dingle v Turner
[1972]
correct
incorrect
IRC v McMullen
[1981]
correct
incorrect
*
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Which statement most closely states the rule on inalienability?
Property left for a purpose cannot be applied for a period more than a life in being plus 21 years.
correct
incorrect
Property must vest in a person within a life in being plus 21 years.
correct
incorrect
Property left for a purpose cannot be applied for more than 21 years.
correct
incorrect
Property must be given away to a charity at the end of the perpetuity period.
correct
incorrect
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What do you think would not be an example of an unincorporated association?
Kenning Village Garden Club.
correct
incorrect
Kenning Village Book Club.
correct
incorrect
Bigger Stores Ltd.
correct
incorrect
Kenning Village Sports Club.
correct
incorrect
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What is the name for the theory that secret trusts can be justified as they are not testamentary trusts but are in fact express trusts which are created
inter vivos
?
The Fraud Theory
correct
incorrect
Principle of formalities
correct
incorrect
Express trusts
correct
incorrect
Dehors the will
correct
incorrect
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What principles can be taken from the case of
Moss v Cooper
(1861) 4 LT 790?
That communication can be by an agent and acceptance can be by silence.
correct
incorrect
That communication can be by an agent.
correct
incorrect
Acceptance can be by silence.
correct
incorrect
That communication can be in a sealed envelope.
correct
incorrect
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When will a presumed resulting trust arise?
When property is purchased in the name of another person.
correct
incorrect
When there is the purchase of property in the name of another person or there is a transfer of property to another person who provides valuable consideration (a conveyance).
correct
incorrect
When a person's conscience is presumed to be affected by equity so that they cannot hold the property for themselves but have to hold it for another.
correct
incorrect
When there is the purchase of property in the name of another person or there is a transfer of property to another person who does not provide valuable consideration (a voluntary conveyance).
correct
incorrect
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In rebutting a presumption which relies upon statements made in relation to a voluntary transfer or purchase in the name of another, who can rely on statements made after the transfer or purchase?
Only the person who did not make the statements.
correct
incorrect
Both parties.
correct
incorrect
Neither party.
correct
incorrect
No oral statements can be relied upon.
correct
incorrect
*
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In
Re Ball's ST
[1968], Megarry J commented on the extent of the court's power to vary a trust under the Variation of Trusts Act 1958. Complete the missing word in the following quote:
'If an arrangement changes the whole ................. of the trust, then it may well be said that it cannot be regarded merely as varying that trust'.
Subsistence
correct
incorrect
Substance
correct
incorrect
Subject matter
correct
incorrect
Substratum
correct
incorrect
*
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In
Re Weston's ST
[1969], which benefit did the court view as most important?
The financial benefits of moving the trust to Jersey.
correct
incorrect
The financial benefits of keeping the trust in England.
correct
incorrect
The social benefits to the children of moving to Jersey.
correct
incorrect
The social benefits to the children of staying in England.
correct
incorrect
*
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Fred and Daphne are trustees. Unknown to Daphne, Fred takes £10,000 from the trust accounts to purchase a vintage bandana belonging to a famous Hollywood star known for his extensive collection of accessories. Just weeks after his purchase, the star who owned the scarf dies in mysterious circumstances, bringing fresh attention to him and his career. The scarf, which he wore in one of his most famous roles, is now worth £25,000. When Daphne and the beneficiaries discover Fred's action they seek advice from you on what they can claim.
Nothing
correct
incorrect
£10,000 (the money taken from the trust accounts)
correct
incorrect
£15,000 (the profit made on the money taken)
correct
incorrect
£25,000 (the current value of the scarf)
correct
incorrect
*
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Timothy and Vanessa have agreed to act as trustees. Under the trust, which contains a range of property, including land, Lisa is to be entitled to the income for 20 years, after which time the remainder will pass to her children, Tyler and Kyle.
Tyler is 25 years old and is keen to start his own business, designing websites. He approaches Timothy and Vanessa to ask for an advancement on his entitlement.
Which statutory provision is most relevant to his request?
Section 31(1)(ii) Trustee Act 1925
correct
incorrect
Section 31(3) Trustee Act 1925
correct
incorrect
Section 32(1)(a) Trustee Act 1925
correct
incorrect
Section 32(1)(c) Trustee Act 1925
correct
incorrect
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What are the requirements for a common law proprietary claim?
Possession of legal title to the property and the property remains unmixed.
correct
incorrect
Possession of the legal or equitable title to the property and the property remains unmixed.
correct
incorrect
Possession of the equitable title to the property.
correct
incorrect
That the property is not mixed with another persons.
correct
incorrect
*
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What rule can be taken from the case of
Roscoe v Winder
[1915] 1 Ch 62?
That a trustee who takes money from a bank account which has his own and trust money in it is deemed to spend his own money first, the presumption of honesty.
correct
incorrect
That a payment of money into a bank account by a trustee who has previously taken trust money from that account in breach is not a repayment of the trust money unless clear intention for it to be so is evidenced.
correct
incorrect
That the presumption of honesty is reversed if a trustee takes money from a bank account which has his own money and trust money in it and after buying an asset with part of the money then dissipates the remainder. The presumption would be that the trustee actually spent trust money first in buying the asset and the money dissipated was his own.
correct
incorrect
That money in an account made up from trust money and trustee's own money is shared rateably.
correct
incorrect
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Which of these is not an equitable remedy?
Specific performance.
correct
incorrect
Damages.
correct
incorrect
Injunction.
correct
incorrect
Rescission.
correct
incorrect
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