JSB171 Lecture Notes - Lecture 1: Parol Evidence Rule, Isaac Isaacs, Mussoorie
Document Summary
Express trusts capacity and the three certainties: all parties to the trust must have capacity. 2. trust must have the 3 certainties: clay v clay [2001] hca; knight v knight: certainty of intention, certainty of subject matter, certainty of object, title, no vitiating factor. I: creating the trust, trust in a will, trust inter vivos. Trusts set up by infants will be binding unless they repudiate it shortly after attaining full legal capacity: edwards v carter [1893] Person must have capacity to make a will: succession act 1981, s8. Must have the capacity to contract: person has full legal capacity upon reaching 18: age of majority act 1974, s5. Insane persons: corporations can also create trusts. Same as contract: wright v gibbons (no 2) (1954: beneficiaries, anyone who can hold an interest in property is able to be a beneficiary, trustee.
