Trustees' Powers and Duties and Personal Liability for Breach - General Duties of Trustees
12 important questions on Trustees' Powers and Duties and Personal Liability for Breach - General Duties of Trustees
Duty #1: Duties on acceptance of the trust
Duty #2: To Safeguard Trusts Assets
Duty #2: To Safeguard Trusts Assets
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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Duty #3: Duty to Act Unanimously, Luke v South Kensington Hotel Co (1879)
Duty #4: Duty to Execute The Trust
Duty #5: Duty to Dispose of Trust Property Properly
***Trustees might avoid liability for improper disposal by seeking court's directions or under section 27 TA 1925.
Duty #6: Duty to Act Honestly, in Good Faith & Need to Be Fair
Duty #7: Duty to Use Powers for Proper Purposes
Duty #9: Duty to Exercise Care and Skill (see further for details)
- at common law
- by statute, section 1 TA 2000
Duty #10: Duty to Balance the Interests of the Life Tenant and Remaindermen
Duty #11: Duty to Keep Accounts & to Provide Information (see further for details)
Duties of Trustees of Land under TOLATA 1996
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
