Chapter 2 Looking for extra marks

. What type of trust arose in Re Vandervell?

Failed formalities trust

Voluntary transfer trust

A constructive trust

An express trust

. Is the following interest vested, contingent or deferred?
To Anne when she reaches 25.

Failed formalities trust

Vested absolutely

Vested but deferred

Vested in remainder

. Which of the following statements is true?

A person with a vested interest can bring an end to the trust at anytime.

All potential beneficiaries can end a trust at anytime.

The trust can be ended by the settlor anytime.

All beneficiaries, who together are absolutely entitled and sui juris, of majority are able to end a trust.

. Which is the correct interpretation of the following declaration. '£30,000 to Anne when she reaches 30'?

The interest is vested in possession with immediate access.

The interest is vested with deferred access.

The interest is contingent on Anne reaching 30.

The interest is vested in remainder.

. What was the reasoning behind the decision in Mettoy Pensions Trustee v Evans 1990?

The distribution of the surplus assets was to be held subject to a resulting trust.

As this was a pension fund the courts can compel the trustee to appoint from the funds.

The people who contributed to the pension fund could claim compensation but only based on their contractual agreement.

The surplus assets of the pension were held with a fiduciary power which although the courts could not compel the trustee to exercise that power, they could adopt an approach which could have the effect of compelling such action. This is due to the nature of pension funds and their regulation.

Chapter 2 Looking for extra marks

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