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?

Question

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?

Answer

The daughter has a beneficial interest in the money because the artist wanted the brother to act as trustee and he is still alive and able to act as trustee.

Answer

The daughter has a beneficial interest in the money because the letter is a valid declaration of trust and the money has been transferred legally to the trustees, which constitutes the trust.

Answer

The daughter has a beneficial interest in the money because the letter comprises a deed of transfer of that money to the brother, which constitutes the trust.

Answer

The daughter has a beneficial interest in the money because of the rule in  Saunders v Vautier .

Answer

The daughter has a beneficial interest in the money because the letter demonstrates that the woman made every effort to constitute the trust.

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An artist writes a letter to her brother saying, ‘The two of us shall be truste...

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