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Equity and Trust Assignment

Added on - 23 Nov 2020

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Equity and Trust
Table of ContentsINTRODUCTION...........................................................................................................................3Critical Evaluation...........................................................................................................................3CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONEquity and trust has been considered as two major elements of chancery courts which hasbecome necessary to modify rigid application of a common law or regulation. On one hand,equity is based on grounded rules, principles and doctrines that are actually strict interpreted, butits application and also remedies awarded under judicial discretion. On other hand, trust is onewhich involves two parties named as trustee or trustees which holds property rights on behalf ofanother or any identified person. This report will be carry on William Grant Morice vs Bishop ofDurham. In this assessment, critical view point will have to be considered in order to find validconclusion. Along with this, report will show how courts will decide whether someone can beconsidered as object. Through this assessment, focus will be on understanding of an equity andtrust to find out true and valid outcomes from given situation.Critical EvaluationThis case is completely based on non-will transfer from one person to other with somedefined intention or purpose to conduct any lawful recognition from persons point of time. Therole of court is wide here, in this scenario along with regulating case for arriving at valid andconscience based judgement or results for any common law. In this case, Clayton was shifted hisproperty to his sister Anna, who was 79 years of age and also she cannot transfer it without anykind of defined will power, so as to protect from being theft or unintentional practices. It wasnoticed that, without will approval of Anna, property and funds of £30,000 would not betransferred or left1. If any property needs to be termed as trust, it is necessary to have commonobject, which shows for what aims or purpose, trust is being opened or if it belongs to ownership,person needs to have full right or control of it in for defined period of time. In that will ofClayton, who was the benefactor of British museum despite of leaving large collection of books,prints and other network, he left his home-made and shift his entire will to sister Anna withcharge to ask upon her will to demand for money up to £30,000 for charitable purpose or anydefined goals. Equity belongs to Clayton who was benefactor of an entire British museum2.1Anenson, T. Leigh. "Public Pensions and Fiduciary Law: (A View from Equity." U. Mich.JL Reform 50 (2016): 2512Rau, P. Raghavendra. ("Law, trust, and the development of crowdfunding." 2017).
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