Module SXL-2211:
Equity and Trusts

Module Facts

Run by School of History, Law and Social Sciences

20.000 Credits or 10.000 ECTS Credits

Semester 1

Organiser: Dr Marie Parker

Overall aims and purpose

The aims of the module are to ensure that students are able to understand equitable principles and the way in which equitable principles affect people in their everyday lives. The module will explore the importance, creation and use of trusts.

Course content

The module will include but will not be limited to the following topics: the development of equity and the nature of trusts, variation of trusts, the three certainties, constitution and formalities, charitable trusts, cy-pres doctrine, resulting and constructive trusts, Quistclose trusts, the fiduciary relationship, the distinction between a breach of trust and a breach of a fiduciary duty, trustees' duties, remedies, defences, tracing, dishonest assistance and knowing receipt. Students will also gain an understanding of unjust enrichment within this module.

Assessment Criteria

threshold

Threshold: D- to D+ (40-49%) An answer which, while predominantly correct in its presentation of material, contains a significant level of error and is therefore not entirely reliable.

good

Good: B- to B+ (60-69%) High Standard: A comprehensive answer, containing all the material relevant to the question and no irrelevancy, all the material and references being accurate and correct, there being no inaccuracy or error, the whole presented in an argument which, while clear, logical and critical, leaves room for improvement in its construction and presentation. An answer which shows complete competence in the subject.

excellent

Excellent: A- to A* (70+%) An outstanding answer containing all the material relevant to the question and no irrelevancy, all the material and references being accurate and correct, there being no inaccuracy or error, the whole presented in a clear, logical, critical argument with little room for improvement. An answer which demonstrates a complete mastery of the subject.

C- to C+

C- to C+ (50-59%) An answer which, while always in the main accurate and correct, fails to distinguish between relevant and irrelevant material and is lacking in criticism. An answer which while reliable with regard to correctness is either not comprehensive or not entirely pertinent.

Learning outcomes

  1. Demonstrate knowledge of the distinction between the legal estate and the equitable interest and to be aware of the distinction between real and personal property

  2. Be able to identify the key requirements for the creation of a valid express trust and to be able to cite relevant statutory authority and common law principles in connection therewith.

  3. Have a critical understanding of implied trusts, and to show an appreciation of the underlying conceptual and theoretical basis for such trusts.

  4. Show a critical understanding of the key distinction between a breach of fiduciary duty and breach of trust, and be able to understand the duties and liabilities of trustees.

  5. Show a critical awareness of the differences between the personal and proprietary remedies of beneficiaries.

  6. Be able to apply their knowledge to accurately state when an account has either been surcharged or falsified and to be able to state accurately when and how beneficiaries can avail themselves of the ability to trace into assets, using common law and equitable principles.

Assessment Methods

Type Name Description Weight
ESSAY Written assignment

40% of the assessment for this module will consist of a 2,500 word essay. The word limit excludes footnotes and bibliography.

 40.00
EXAM Final examination

60% of the assessment for this module will consist of a 2 hour exam.

 60.00

Teaching and Learning Strategy

Hours
Tutorial

Students will meet in groups to discuss the Tutorial questions and the answers that they have prepared in advance of the session.

 6
Private study

Students will be expected to carry out private study. During this time, students will carry out background reading and research.

 154
Lecture

There will two x 2 hour lectures per week.

 40

Transferable skills

  • Literacy - Proficiency in reading and writing through a variety of media
  • Computer Literacy - Proficiency in using a varied range of computer software
  • Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
  • Exploring - Able to investigate, research and consider alternatives
  • Information retrieval - Able to access different and multiple sources of information
  • Inter-personal - Able to question, actively listen, examine given answers and interact sensitevely with others
  • Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
  • Presentation - Able to clearly present information and explanations to an audience. Through the written or oral mode of communication accurately and concisely.
  • Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting
  • Self-awareness & Reflectivity - Having an awareness of your own strengths, weaknesses, aims and objectives. Able to regularly review, evaluate and reflect upon the performance of yourself and others

Subject specific skills

  • Develop the ability to interpret legal rules and employ techniques of legal reasoning competently and efficiently in order to offer a range of solutions and conclusions to actual or hypothetical complex legal problems, all supported by relevant academic literature, jurisprudence and legislative research. Such solutions will be clearly communicated and presented
  • Develop the ability to analyse complex legal issues, set against the background of the political, social, economic or cultural contexts in which they may arise
  • Develop those skills which are necessary for scholarship and research in legal subjects, namely the ability to identify relevant primary and secondary legal sources and to retrieve accurate legal information using paper and electronic sources

Resources

Talis Reading list

http://readinglists.bangor.ac.uk/modules/sxl-2211.html

Reading list

CORE TEXT: G Virgo, The Principles of Equity & Trusts (4th edn, Oxford University Press 2020)

Pre- and Co-requisite Modules

Courses including this module

Compulsory in courses:

Optional in courses: