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Equity and Trusts (2025/2026)
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Which of the following is a proprietary claim?
An artist writes a letter to her brother saying, ‘The two of us shall be trustees over the sum of money in my savings account for your daughter until such time as your daughter marries or turns 30 years of age (whichever is the earliest), when it will become hers’. The brother telephoned the artist to agree. The daughter is aged 21 years.
Two weeks later, the artist put the money into a joint bank account in the names of herself and her brother.
Which of the following statements best describes why the daughter has a beneficial interest in the money in the savings account?
A doctor is a trustee. He stole £50,000 from the trust and paid this into the bank account of an offshore company. The doctor instructed the trust’s accountant to draw up some ‘inventive accounts’. She did so. These accounts have hidden the doctor’s wrongdoing until now.
The offshore company has been dissolved.
Which of the following claims should the beneficiaries bring against the accountant?
Which of the following is a remedy available specifically for breach of fiduciary obligation?
After a trust has been created, which one of the following is true?
A trustee steals £50,000 from a trust. She transfers £20,000 of the money to her daughter who uses the money to pay off her credit card debts and the remaining £30,000 to her son who uses the money as a deposit towards a flat. The daughter and son know their mother stole the trust money.
The trustee and her son are facing bankruptcy (insolvency) proceedings.
Which of the following claims is most likely to give the beneficiaries a positive outcome?
Who has the default statutory power to appoint a new trustee where the trust instrument is silent?
A man transfers a portfolio of shares on trust with income to go to his brother and sister in equal shares during their lifetime with remainder to go to his nieces and nephews absolutely in equal shares.
What type of trust is this?
A woman executed a trust deed under which she declared that her brother would hold her shares in a private limited technology company on trust for her two children. The woman handed her share certificate to those shares to her brother. A week later, the woman died.
Are the shares held on trust for the children?
Three trustees are appointed to manage a large investment trust fund. The trust owns various retail buildings in the local town centre. At a trust meeting last month, the trustees were told that an office block next door to one of the trust’s retail buildings was going on the market for a good price. The trustees agreed (with the benefit of advice from an external adviser) that they were happy with current the investments in the trust fund and were not minded to make any changes to the current portfolio over the next six months.
Using the information from the trust meeting, one of the trustees purchased the building for himself.
Did the chartered accountant breach his fiduciary duty?