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. What is the standard of care expected by a trustee?

Section 1 Trustee Act 2000. correct incorrect

At common law it is the reasonable prudent man; Speight v Gaunt and can be found in statutory form for certain duties in s1 Trustee Act 2000. correct incorrect

Speight v Gaunt (1883) 9 App Cas1. correct incorrect

The standard of care is to take advice at all times in making decisions, under Trustee Act 2000. correct incorrect

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. Which is the correct authority to illustrate that losses by one breach cannot be compensated by profits made in another breach; the issue of causation?

Speight v Gaunt (1883) 9 App Cas1e correct incorrect

Styles v Guy (1849) 19 LT Ch 185 correct incorrect

Target Holdings Ltd v Redferns [1995] 3 All ER 785 correct incorrect

Re Pauling's Settlement Trusts [1964] Ch 303 correct incorrect

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. Trustees are joint and severally liable. Can a trustee who has been required to repay a beneficiary for breach claim compensation from the other trustees?

Yes, if there has been there has been a fraud by the co-trustee
(ii) The co-trustee has breached for their own benefit Bahin v Hughes (1886)
(iii) A solicitor has exercised a controlling influence on a lay trustee Re Partington.
(iii) The Civil Liabilities (Contribution) Act 1978 grants the courts powers to order co-trustees to contribute to the losses claimed if it is 'fair, just and reasonable' correct incorrect

Yes the Civil Liabilities (Contribution) Act 1978 grants the courts powers to order co-trustees to contribute to the losses claimed if it is 'fair, just and reasonable' correct incorrect

Yes if there has been there has been a fraud by the co-trustee
(ii) The co-trustee has breached for their own benefit Bahin v Hughes (1886)
(iii) A solicitor has exercised a controlling influence on a lay trustee Re Partington. correct incorrect

No correct incorrect

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. In a personal common law claim for restitution (money had and received) what are the defences available?

That it is a) unconscionable to return
b) recipient is Equity's Darling
c) there has been a change of position correct incorrect

That it is a) unconscionable to return
b) recipient is Equity's Darling correct incorrect

There are no defences as the liability is strict correct incorrect

That it is a) recipient is Equity's Darling
b) there has been a change of position correct incorrect

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. Which statement is a correct summary of the decision in Scottish Equitable v Derby [2000] 3 All ER 793?

That the payment of a mortgage was a change of position with the claimant subrogated to the position of the mortgage lender. correct incorrect

That the defendant had spent the money on a holiday and could not repay. correct incorrect

That the payment of a mortgage was not a sufficient change of position for the defence to apply. correct incorrect

That a person who pays a mortgage can only claim a change of position if the payment was one not expected to be made. correct incorrect

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. What are the categories of equitable common law remedies?

a) Intermeddling
b) recipient liability
c) accessory liability correct incorrect

Tracing and following correct incorrect

a) Intermeddling
b) accessory liability correct incorrect

a) Intermeddling
b) recipient liability correct incorrect

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. What is the correct authority for establishing liability for recipient liability?

Barnes v Addy (1874) LR 9 Ch App 244 correct incorrect

BCCI v Akindele [2000] 4 All ER 221 correct incorrect

Baden, Delvaux and Lecuit v Societe Generale pour Favoriser le Developpment du Commerce et de l'Industrie en France [1989] BCLC 325 correct incorrect

Agip (Africa) Ltd v Jackson [1990] Ch 265 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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. In Westdeutsche Landesbank Gironzelle v Islington LBC [1996] AC 669 how did Lord Browne-Wilkinson explain why a thief has the necessary fiduciary relationship with the claimant to allow equitable tracing?

Because a thief will know the person who they have stolen the property from. correct incorrect

That the fiduciary relationship would only arise where there was a previously close relationship between the thief and the victim. correct incorrect

He said there would not be a fiduciary relationship and it was not needed for equitable tracing. correct incorrect

That the thief would become a constructive trustee, as his conscience was affected by the theft. This position as constructive trustee would then give rise to a fiduciary relationship. 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