Equity and Trusts: Analysis of UK Case Law and Legal Journals

This report provides a comprehensive overview of Equity and Trusts, focusing on the key principles and applications within the UK legal system. It examines the historical context, including the role of the Chancery Courts and the distinction from Common Law. The report delves into the concept of Equity, emphasizing fairness and impartiality, and explores the development of Trusts as an adjunct to property law. It differentiates between the roles of trustees and beneficiaries, highlighting the legal framework governing property rights and obligations. The analysis incorporates UK case law and legal journals to provide a detailed and insightful perspective on the subject, adhering to the specific requirements of the assignment brief by excluding Australian case law and providing appropriate references.

Running head: EQUITY AND TRUST
EQUITY AND TRUST
Name of the Student
Name of the University
Author Note

1EQUITY AND TRUST
Introduction
Equity and trusts is considered to be an exclusive division of the English law. It was
created on the ground of the principles as provided by the Chancery Courts. It provides a balance
to the law in United Kingdom1.
Equity – What it is?
The term ‘Equity’ generally means equality and righteousness. It means to do any action
in an impartial, reasonable and equitable manner. But in actuality, Equity is an exclusive
structure of law that has a distinct history from the Common Law2. Until the year of 1875, the
administration of Equity was done by the Chancery Court. However, the Common Law was
separately administered by a set of different but equivalent courts. Certain remedies were
possible only in the Common Law system and other remedies were possible in the case of
Equity3.
Law of Trusts – What it is?
The trusts laws were established as an aide to the property laws. The application of this
law was made by the courts when a particular individual has a legal title regarding a property,
however, the courts acknowledged that it is fair, just and equitable that the title shall be held by
another individual and that person shall enjoy the rights in relation to that property. Presently,
there are two divisions in the law of Trusts. These two divisions are the ‘trustee’ and the
1 Virgo, Graham. The Principles of Equity & Trusts. Oxford University Press, 2018.
2 Hudson, Alastair. Understanding equity & trusts. Routledge, 2016.
3 Watt, Gary. Trusts and equity. Oxford University Press, 2018.

2EQUITY AND TRUST
‘beneficiary’. The actual lawful owner is the trustee as he is assigned with the property to look
after the property. However, the beneficial owner of the property is the beneficiary4.
References
Virgo, Graham. The Principles of Equity & Trusts. Oxford University Press, 2018.
Hudson, Alastair. Understanding equity & trusts. Routledge, 2016.
Watt, Gary. Trusts and equity. Oxford University Press, 2018.
Clements, Richard, and Ademola Abass. Complete Equity and Trusts: Text, Cases, and
Materials. Oxford University Press, 2018.
4 Clements, Richard, and Ademola Abass. Complete Equity and Trusts: Text, Cases, and Materials. Oxford
University Press, 2018.