An introduction to the trust

Quiz Content

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Heidi holds money on trust for Ida. Ida declares that she holds the money on trust for Johan.
What are the respective rights of each of the parties?

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Lois holds property on trust for Manion. In breach of trust, Lois sells the property to Nellie, a good faith purchaser.
What happens to Manion's equitable proprietary interest?

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Miriam owns a bakery. Nigel holds the ovens and equipment on trust for Miriam. Oscar refurbishes the ovens and equipment but does so negligently, breaking the equipment.
Can Miriam sue Oscar for the consequential economic loss in having to close the bakery whilst the equipment is repaired?

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Sam is Veronica's agent. Veronica transfers legal title to her car to Sam. Alex, Sam's accountant, realized she had confused some of the numbers and owed Sam £100 which Alex gave to Veronica as Sam's agent, and which Veronica kept in a separate account from her own money.
What are Sam's property rights in relation to the car and the money?

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Colin holds property on trust for his employees and their relatives. The trust instrument states that 'every year, the trustee must consider whether to apply the income in favour of the objects under the trust'.
What type of power does Colin hold?

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