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. Which statement is correct in relation to the formalities for creating a trust in land?

There must be evidence in some form of writing, signed by the settlor. correct incorrect

There must be a deed which complies with s1 Law of Property (Miscellaneous Provisions) Act 1989. It must be signed and witnessed. correct incorrect

There must be evidence in writing signed by the settlor or their agent. correct incorrect

There are no formalities required for a declaration of trust in land, just the three certainties. correct incorrect

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. Does Grey v IRC correctly interpret s53 (1) (c) LPA 25?

Yes, here the beneficial owner wanted to transfer his beneficial ownership of the trust to his grandchildren, so this was a disposition of his subsisting equitable interest. correct incorrect

No, S205 (1) (x) LPA defines an equitable interest as one that exists over land. correct incorrect

No, as Mr Grey was absolutely entitled to the beneficial interest he should have been able to direct the trustee how to deal with his property, as long as all parties agreed. correct incorrect

No, the document had no value and merely confirmed what had been orally declared between Mr Grey and his trustees. correct incorrect

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. Which is the most correct interpretation of the decision in Rochefoucauld v Boustead 1897?

That the requirements of s53 (1) b LPA are to be strictly applied as it is a matter of substance to create the trust in land by writing. correct incorrect

Equity will not allow a statute to be an instrument of fraud correct incorrect

Writing is merely evidence of the oral declaration of trust so can be avoided by parole evidence. correct incorrect

Equity will not allow a statute to be an instrument of fraud, as s53 (1) b LPA is a matter of evidence, then the trust is created by the oral declaration, and the settlor and trustee should not be permitted to deny the existence of the trust due to failed formalities. correct incorrect

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. What was the argument accepted by the minority in the decision of Oughtred v IRC 1960.

That the contract was a disposition of a subsisting equitable interest and as such needed to comply with s53 (1) c LPA. correct incorrect

The contract the transfer beneficial interests was a specifically enforceable contract. As such the conscience of the promisor was affected and therefore held on constructive trust. This meant that it was subject to s53 (2) LPA. As such s53 (1) c LPA did not apply to the operation of implied trusts. correct incorrect

The promise to transfer was within a deed so was a covenant to settle. correct incorrect

That the contract entered into was void for want of consideration and so was not enforceable in the courts. Which means any claim of transfer of the beneficial interest required compliance with s53 (1) c LPA correct incorrect

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. What is consideration for equity?

Exactly the same as is recognised in contract law correct incorrect

Money correct incorrect

Money, marriage and money's worth. Not a deed which is recognised in common law only. correct incorrect

Money, marriage, deeds and promises. correct incorrect