Commercial and Corporations Law

Running head: COMMERCIAL AND CORPORATIONS LAW
COMMERCIAL AND CORPORATIONS LAW
Name of Student
Name of University
Author Note

1COMMERCIAL AND CORPORATIONS LAW
Table of Contents
Answer 1..........................................................................................................................................2
Issue.............................................................................................................................................2
Rule..............................................................................................................................................2
Application..................................................................................................................................4
Conclusion...................................................................................................................................4
Answer 2..........................................................................................................................................5
Issue.............................................................................................................................................5
Rules............................................................................................................................................5
Application..................................................................................................................................6
Conclusion...................................................................................................................................7
Reference.........................................................................................................................................8

2COMMERCIAL AND CORPORATIONS LAW
Answer 1
Issue
In this case the main issue is finding if there is sufficient certainty for the creation of a
trust.
Rule
An express trust can be defined as a trust that has not been imposed by the court rather
has been created for a specific purpose. The trust can be seen as an arrangement of a property
controlled by a person for the advantage of people. The person controlling the property is called
a trustee and the people for whom the advantages are made can be called the beneficiaries. The
creator of a trust can be known as trustor, settler or grantor. There is another type of trust that can
only be created by the court’s operations. This type of trust is known as implied trust.
The trust law of Australia can be seen to be developed from the English Trust law . Under
the trust law a trustee is required to manage and hold property for another person within a legal
agreement as provided by the trust deed. A trustee is under the obligation to be acting in
accordance with the deed even though is the legal owner of the property on behalf of the
beneficiaries. The Australian trust law follows the three certainty rules which can be seen to be
originated from the English trust law. In the famous case Knight v Knight (1840) the principles
of three certainties in the English trust law have been laid down. In this case it was decided that
in order for creating a valid trust the trust instrument should be following three principles of
certainty. These principles are certainties of intention, certainties in relation to subject matter and