2017_1 TMA Solutions - LAW424/ PPL424, Law of Trust II

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Adebisi
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2017_1 TMA Solutions - LAW424/ PPL424, Law of Trust II

Postby Adebisi » Tue Jan 30, 2018 5:20 am

Email: Solutions2tma@gmail.com
Whatsapp: 08155572788

Email: Solutions2tma@gmail.com
Whatsapp: 08155572788

1 If a trust fails for uncertainty of objects:

The trust fund is held on resulting trust for the settlor/testator's estate.


2 What is the effect of the fully secret trustee witnessing the will?

The trust is valid as it operates dehors the will


3 A trust of shares declared by a minor is:

Voidable


4 What is the meaning of the secret trust taking effect 'dehors the will'?

The secret trust takes effect outside the will


5 The testator's will provides that 'N100,000 should be distributed amongst all or some of the inhabitants of Umukoro Village'. Identify the reason why this trust would fail.

Administrative unworkability.


6 When must a half secret trust be communicated to the secret trustee?

Before or at the time of executing the will


7 Which of the following will invalidate a death bed gift?

The donor expressly revoked the gift


8 When must a fully secret trust be communicated to the secret trustee?

During the testator's lifetime


9 The testator's will provided that 'N30,000 should be held on trust for such of my friends as my trustees should think deserving'. Identify the reason why this trust would fail.

Conceptual uncertainty


10 What is the test for certainty of objects in a discretionary trust?

The is or is not test


11 Which of the following is incapable of being the subject of a death bed gift?

A cheque


12 The testator's will provides that 'six of his oil paintings should be held on trust for Kola'. Identify why this trust will fail.

The paintings have not been segregated


13 What is the effect of uncertainty of intention?

The donee takes absolutely


14 If a donor has a continuing intention to give but the gift is imperfect, when will the rule in Strong v Bird apply?

When the donee is appointed executor of the donor's estate


15 The testator's will provided that 'the bulk of his estate should be held on trust for his son, James'. Identify the reason why this trust would fail.

There is uncertainty of objects.


16 Identify which one of the following dispositions would be valid.

My residuary estate to David.


17 Which concept was established by Fletcher v Fletcher?

A trust of a promise


18 Which of the following properly describes a completely constituted trust?

The settlor has declared himself trustee or has vested legal title in trustees


19 What is meant by 'precatory words'?

Words of recommendation, request, entreaty, wish, or expectation, employed in wills


20 What are the three certainties?

Intention; subject-matter, object



Email: Solutions2tma@gmail.com
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Adebisi
Posts: 813
Joined: Mon Nov 06, 2017 6:59 am
Contact:

Re: 2017_1 TMA Solutions - LAW424/ PPL424, Law of Trust II

Postby Adebisi » Tue Jan 30, 2018 5:28 am

Email: Solutions2tma@gmail.com
Whatsapp: 08155572788

Email: Solutions2tma@gmail.com
Whatsapp: 08155572788


1 Which of the following is no longer an unenforceable trust?

Trust for the promotion of fox hunting


2 What is the effect of a half secret trustee predeceasing the testator?

The secret trust will be upheld


3 Which of the following rules does apply to charitable trusts?

Rule against remoteness of vesting


4 Which of the following purposes are charitable?

To set up a training academy for young long distance runners


5 What is the other name for an unenforceable trust?

A trust of imperfect obligation


6 How would a trust for the care of the testator's cat be described?

a trust of imperfect obligations


7 What is meant by the 'beneficiary principle'?

Every trust must have someone who can enforce it.


8 Proprietary estoppel is similar to which of the following?

An express common intention constructive trust


9 If Grace seeks to claim a beneficial interest in the home and has evidence that she has made a direct contribution to the purchase price, which of the following would be appropriate as the basis on which to found her claim?

An inferred common intention constructive trust


10 What is the effect of a secret beneficiary witnessing the will?

The secret trust will be valid


11 If Ada seeks to claim a beneficial interest in the home and has evidence that there was an oral agreement that she should have a share and that she acted to her detriment in reliance on that agreement, which of the following would be appropriate as the basis on which to found her claim?

An express common intention constructive trust


12 How does a constructive trust arise?

By operation of the law


13 What is the effect of the half secret trustee witnessing the will?

The half secret trust will be valid


14 Which of the following is not a fiduciary relationship?

Settlor - Beneficiary


15 What is meant by the term 'remedial constructive trust'?

A mechanism for overcoming unjust enrichment


16 What is the definition of a fiduciary?

Someone who acts for another in a relationship of trust and confidence


17 If Chike transfers N200,000 to his trustees to hold on trust for Bola for life, what happens to the fund if Chike did not state who would be entitled to the fund when Bola died?

The fund would result back to Chike


18 What type of trust is imposed on a surviving testator who has made a mutual will?

A constructive trust


19 Which of the following best describes a mutual will?

Wills made by two people who agree that they will not revoke their will unilaterally


20 What is the effect of the fully secret trustee predeceasing the testator?

The secret trust will fail




Email: Solutions2tma@gmail.com
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