Breach of Trust and Breach of Duty - Limitation of Liability - Exclusion Clause
3 important questions on Breach of Trust and Breach of Duty - Limitation of Liability - Exclusion Clause
Schedule 1, Para 7, TA 2000
Clauses in trust instruments excluding liability for breach of statutory duty of care are recognised.
Consequence of Armitage v Nurse
Test:
- What is the nature of the duty breached? (Fraud or negligence)
- Whether it is fundamental or not? (Fraud is fundamental, negligence is non-fundamental duty)
Wight v Olswang [1999]
The Court held that a clause that exempted solicitor trustees of liability had to be interpreted restrictively.
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