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Essay / Research Paper Abstract
This 7 page paper looks at the subject of trusts and a trust that was created by deed where there are issues with the subject of the trusts, considering the trustees ability to take action to claim different trust subjects. The bibliography cites
Page Count:
7 pages (~225 words per page)
File: TS14_TEtrenforce.rtf
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Unformatted sample text from the term paper:
the trust property to be head for his children Felicity and George. No transfer took place at the time the deed was executed, but Sam promised that he would pout
into the trust ?50,000 an equitable interest in a trust of which he is a beneficiary and any property that was received under a will from his uncle Harry. A
cheque that was made out ion the 4th of June for ?50,000 is refused by the bank due to insufficient funds, this had been sent with a note on a
scrape of paper that also said that he assigned to the trust the equitable interest in his aunts trust. Sam has fallen out with the appointed trustees and Tommy and
Teresa want to assert that the residue and the interest under the Aunts will are not part of the trust and they also want to sue Sam for the 50,000.
If we are going to consider trusts, then the first step we need to take is to define them. A trust is "1. A confidence reposed by one person
in conveying or bequeathing property to another that the latter will apply to a purpose or purposes desired by the former. These purposes are generally indicated in the instrument, whether
deed or will, by which the disposition is made. 2. Hence it signifies the beneficial interest created by such a transaction. In this sense it may be defined as a
beneficial interest in, or ownership of, real or personal property, intended with the legal or possesory ownership of it" (Ivamy, 2000).
If we consider enforceability we may make a comparison with a contract. The idea of a contract we see that there is no
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