LC3S317 - Equity and the Law of Trusts 01 Sep 2023 - 31 Aug 2028 | Version 3
Associated Module Information
| Module Code: | LC3S317 | ||
|---|---|---|---|
| Module Title: | Equity and the Law of Trusts | ||
| Faculty: | Faculty of Business and Creative Industries | ||
| Faculty Group: | Law | ||
| Faculty Sub Group: | Law | ||
| Module Leader: | Hannah Coburn, Benjamin Jones | ||
| Module Team: | Wai Mo, Clare Lewis, Holly Evans, Hannah Menard, Ayesha Fulat | ||
| First Intended Intake: | SEP 2022 | Final Year of Intake: | 2027 |
| Date Closed: | |||
| Credit Value: | 20 | Credit Level: | 6 |
| Language: | English | ||
| Percentage of Module Taught in Welsh: | 0 | ||
| Equivalent Module: | |||
| HECOS codes: | 100485 - law | ||
| HECOS Code Weighting: | 100 | ||
Document Version Information
| Version | 3 |
|---|---|
| Valid From | 01 Sep 2023 |
| Valid To | 31 Aug 2028 |
Module Aims
The module aims to introduce students to fundamental principles of Equity and the Law of Trusts in England and Wales.
The module will provide a basis for study for students to:
1. Develop knowledge and understanding of the law relating to Equity and Trusts; express and implied trusts, the fiduciary relationship, trustees’ duties, powers and liability and equitable remedies.
2. Critically analyse and evaluate the law
3. Apply the law to complex problem scenarios.
Content Summary
The module will cover the following indicative content:
• Creation and requirements of express trusts:
• The three certainties of intention, subject matter and objects:
• Fixed interest trusts
• Discretionary trusts
• Formalities to create express inter vivos trusts
• Constitution of express inter vivos trusts and exceptions to the rule that equity will not assist a volunteer
Beneficial entitlement:
• Fixed, discretionary, vested, contingent interests
• The rule in Saunders v Vautier
The distinction between charitable trusts and non-charitable purpose trusts
Resulting trusts:
• How they arise and when they are (or are not) presumed
Trusts of the family home:
• Establishment of a common intention constructive trust:
• Legal title in the name of both parties/sole party
• Express declaration or agreement as to equitable ownership
• Direct and indirect contributions
• Requirements to establish proprietary estoppel
Liability of strangers to the trust:
• Establishing recipient liability
• Establishing accessory liability
The fiduciary relationship and its obligations:
• Duty not to profit from fiduciary position
• Trustees not to purchase trust property
• Fiduciary not to put himself in a position where his interest and duty conflict
Trustees:
• Who can be a trustee; appointment, removal and retirement of trustees
• Trustees’ duty of care
• Trustees’ duty to invest (and powers in relation to investment)
• Trustees’ statutory powers of maintenance and advancement
Trustees’ liability:
• Breach of trust
• Measure of liability
• Protection of trustees
• Limitation period
The nature of equitable remedies and the availability of tracing in equity
Learning and Teaching Methods
| Activity Type | Hours |
|---|---|
| Lecture | 20 |
| Seminar | 20 |
| Independent Study | 83 |
| Directed Study | 72 |
| Formative Assessment - Independent | 5 |
| Total Hours Selected | 200 |
Learning Outcomes
| # | Learning Outcome |
|---|---|
| LO1 | Evidence detailed knowledge and understanding, and analysis of Equity and the Law of Trusts in England and Wales |
| LO2 | Present and make a reasoned choice between alternative solutions and apply knowledge and understanding to offer reasoned conclusions |
Module Requisites
N/A
Assessment Criteria
| Assessment Category | Assessment Type | Description | Duration | Word Count | Weight (%) | Best of? | Pass Mark |
|---|---|---|---|---|---|---|---|
| Synchronous Online Assessment | Time-constrained assessment (Online) 1 | Assessment to be completed in a specific timescale, students to answer questions from a range of questions on key aspects of Equity and Trusts. 48 Hours duration. | 120 | 2000 | 50 | No | 40 |
| Asynchronous Assessment | Essay 1 | An individual coursework that assesses knowledge, understanding, analysis, evaluation and application of the substantive rules of Equity and Trusts. | 0 | 2000 | 50 | No | 40 |
Assessment Matrix
| Assessment Type | Learning Outcomes | ||
|---|---|---|---|
| LO1 | LO2 | ||
| Time-constrained assessment (Online) 1 | ✔ | ✔ | |
| Essay 1 | ✔ | ✔ | |