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Mark Pawlowski considers the Court of Appeal’s decision in Pankhania v Chandegra, which discusses whether express declarations of trust are conclusive An express trust may only be challenged on specific grounds that permit rescission or rectification of the formal document. It is accepted as established law that, where the parties execute a trust expressly declaring …
Continue reading "Trusts And Property: Declarations of trust in the family home"
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IBM United Kingdom Pensions Trust Ltd v IBM United Kingdom Holdings Ltd updates the position on rectification and pension trusts. Emily Campbell looks at the implications Frequently, parties cannot remember exactly what was said at meetings (unless it found its way into the minutes). The area of rectification is a fertile source of case law. …
Continue reading "Rectification: Examining intention and agreement"
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Christopher Lloyd examines the current approach of the court to proprietary estoppel as indicated in Bradbury v Taylor</em Assurances or promises do not need to be the sole reason for the representee’s conduct: it is sufficient if they are an inducement. The inexorable rise in real property prices over the last half-century means that a …
Continue reading "Proprietary Estoppel: Deal or no deal"
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The Charity Commission’s decision over a proposed cy-près scheme for The Sir Edward Heath Charitable Foundation has useful lessons, as Sarah Clune explains Many questioned why applications for funding had not been made to the Heritage Memorial Fund, why a public appeal had not been mounted and why events were not held at the house. …
Continue reading "Charities: Consultation is key"
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Jehan-Philippe Wood analyses Bieber v Teathers, which sheds new light on how a Quistclose trust is defined in the context of partnerships It is one thing to accept that a trust can exist alongside a contractual arrangement. It is quite another to try to reconcile competing arrangements. A Quistclose trust (the name derives from Barclays …
Continue reading "Quistclose Trusts: Beware of importing principles of equity into commercial law"
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Re Harcourt is a useful reminder of the circumstances in which the court can revoke a lasting power of attorney. Catherine Paget reviews the case The donor of an LPA who does not lack capacity can ask the attorney to produce accounts, receipts, invoices, bank statements and other financial records, and give an explanation of …
Continue reading "Lasting Powers Of Attorney: Who guards the guardians?"
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Mark Stevens discusses Curati v Perdoni, which underscores the importance of knowing all the circumstances of your client when will-drafting The case before the Honorable Mr Justice Sales centred on whether the 1994 Italian will had the effect of revoking the 1980 will. The two main issues at the centre of Curati v Perdoni [2013] …
Continue reading "Domicile: Where is ‘home’?"
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Tax collection is not a moral crusade but the enforcement of black letter law, argues Geoffrey Shindler Lawyers and the rule of law they uphold are the ones caught in the pincer movement.The next time you are driving in excess of the speed limit, and admit it we all do from time to time, the …
Continue reading "Musings From Manchester: Taxing times for HMRC"
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Nicholas Holland and James Ratcliffe consider whether there are grounds to bring claims for investment losses after the Court of Appeal’s decision in Rubenstein The problem for a trustee will be to know when a ‘good’ claim is good enough, and in most cases they should expect that the first stage will be to seek …
Continue reading "Global Financial Crisis: When should trustees litigate?"
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Neasa Coen explains the impact of a new definition of charity on tax reliefs To mitigate the damage done by the unfit manager the charity can move that person into a role where they will not have the same financial influence. The Finance Act 2010 saw the introduction of a new definition of ‘charity’ for …
Continue reading "Tax: Aiding cross-border giving"
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