Trusts (LAW233H1S)

The trust has been described by one illustrious legal scholar as "the greatest and most distinctive achievement performed by Englishmen in the field of jurisprudence." This course will examine the basic concepts of the trust, its essential elements, and the practical consequences of failure to ensure that all essential elements are in place. The course will also study selected aspects of the administration of a trust as an ongoing institution.

The trust is a creation of the branch of England derived jurisprudence known as Equity. The course offers an opportunity to increase understanding of the nature of Equity, operating as a supplement to the basic common law.

The trust, as an institution, has practical application in every field of applied law. For reasons of convenience, most of the examples which we will study will be drawn from the area of "personal trusts", that is, situations where the creator of the trust is employing the institution to make economic provision for persons or causes which he or she cares about. The student should remember that the principles derived from these cases have equal application in the more complex "business" uses of the trust as well.