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Trusts Law in Australia e5 (hardcover)

Trusts Law in Australia e5 (hardcover)

By Denis SK Ong

Trusts Law in Australia, now in its fifth edition, provides a comprehensive and scholarly analysis of modern trusts law. Earlier editions have been praised for their utility both as a text for students and as for the sophisticated analysis of decisions they provide for practitioners.

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  • Full description

    Trusts Law in Australia, now in its fifth edition, provides a comprehensive and scholarly analysis of modern trusts law. Earlier editions have been praised for their utility both as a text for students and as for the sophisticated analysis of decisions they provide for practitioners.

    The text is logically structured, setting out the conceptual foundations of trusts before dealing with all of the key topics including express trusts, charitable trusts, voluntary trusts, resulting trusts, constructive trusts, writing and related requirements, the rules against perpetuities and accumulations, life tenants, remaindermen, tracing, and the duties, liabilities, powers, rights, appointments, retirement and removal of trustees.

    Professor Denis Ong’s meticulous analysis of both the facts and reasoning of key judgments identifies conceptual anomalies in the law, and interprets and at times critiques the relevant Australian and UK authorities. Each chapter finishes with a summary of relevant legal principles, making the book unusually accessible.

    Among the important decisions included in this new edition:

    In Korda v Australian Executor Trustees (SA) Limited (2015) 255 CLR 62, the High Court stated the requirements for establishing an intention to create an express trust.

    In Australian Financial Services and Leasing Pty Limited v Hills Industries Limited (2014) 253 CLR 560, the High Court clarified the defence of a bona fide change of position.

    In Fischer v Nemeske Pty Ltd (2016) 257 CLR 615, the High Court addressed the distinction between trust and debt.

    The Federal Court in Jones v Matrix Partners Pty Ltd [2018] FCAFC 40 and in Lane v Deputy Commissioner of Taxation [2017] FCA 953, and, on the other hand, the Victorian Court of Appeal in Commonwealth v Byrnes [2018] VSCA 41, disagreed on the controversial ramifications of the trustee’s right of indemnity.

    In Hasler v Singtel Optus Pty Ltd (2014) 87 NSWLR 609 and Fistar v Riverwood Legion and Community Club Ltd (2016) 91 NSWLR 732 the New South Wales Court of Appeal examined the volatile doctrine of accessory liability in equity.

     

  • About the author

    Denis Ong is a Professor of Law at Bond University. He has been teaching Equity and Trusts for over 35 years, at the Australian National University, Macquarie University and Bond University.

    Prior to his appointment at Bond University, he was Head of the Law School at Macquarie University from 1987-1989.

    In addition to Equity and Trusts he is also interested in the Law of Secured Transactions.

     

  • Product details

    ISBN: 9781760021948

    Published: 2018

    Format: Hardcover

  • Table of contents

    Preface 
    Table of Cases 
    Table of Statutes

    1. Introduction

    The Trust 
    The Three Categories of Trusts

    2. The Trust Compared with Some Other Concepts

    Trust 
    Debt 
    Personal Representatives 
    Partners 
    Equitable Charge, Equitable Personal Obligation and Condition Subsequent 
    Bailment 
    Agency 
    Mortgage 
    Unincorporated Associations 
    Company Directors 
    Corporations 
    Company Liquidators 
    Trust Powers and Mere Powers 
    Summary

    3. Three Certainties Required for Creation of Express Trust

    Certainty of Intention 
    Certainty of Subject Matter 
    Certainty of Objects 
    Summary

    4. Writing Requirements for Certain Types of Transactions

    Section 23C(1)(a) of Conveyancing Act 1919 (NSW) 
    Section 23C(1)(b) of Conveyancing Act 1919 (NSW) 
    Section 23C(1)(c) of Conveyancing Act 1919 (NSW) 
    The Principle in In re Schar 
    Section 54A of Conveyancing Act 1919 (NSW) and Doctrine of Part Performance 
    Section 23C of Conveyancing Act 1919 (NSW) and Adamson v Hayes 
    Dispositions by Will 
    Summary

    5. Complete Constitution of Voluntary Trust

    The Basic Principle 
    Executory Trusts 
    Particular Applications of Basic Principle 
    Capacity to Create a Trust 
    Summary

    6. TRUSTEES: Duties, Liabilities, Powers, Rights, Appointment, Retirement and Removal

    Duties of Trustees 
    Liabilities of Trustees: Rights of Beneficiaries 
    Powers of Trustees 
    Rights of Trustees 
    Appointment, Retirement and Removal of Trustees 
    Summary

    7. Charitable Trusts

    Charitable Trusts are Trusts to Promote Charitable Purposes 
    Categories of Charitable Trusts 
    Trusts for the Relief of Poverty 
    Trusts for Advancement of Education 
    Trusts for Advancement of Religion 
    Trusts for Other Purposes Beneficial to Public 
    Statutory Modification of Fourth Category 
    Statutory Severance of Non-Charitable Purposes from Charitable Purposes 
    The Doctrine of Cy-près 
    Statutory Cy-près 
    Control of Public Collection and Disposition of Funds raised for Charitable and Other Public Purposes 
    Lapse 
    Summary

    8. Resulting Trusts

    Statement of Principle 
    Presumption of Resulting Trust 
    Presumption of Advancement (Presumption of Gift) 
    Joint Bank Accounts between Purchasers and Volunteers 
    The Enigmatic Episode of Tony Vandervell: Vandervell v Inland Revenue Commissioners 
    Can a Trust be Created by the Transfer of a Bare Legal Estate? 
    Resulting Trusts Precipitated by Transfer of Property in Trust for Illegal Purposes 
    Summary

    9. Constructive Trusts

    Acquisition of Legal Title with Actual or Constructive Notice of Earlier Inconsistent Equitable Interest 
    Property Acquired through Giving of Knowing Assistance to Another in Latter’s Breach of Fiduciary Duty 
    Fiduciary’s Duty to Account for Unauthorised Gains 
    Unconscionable Reliance on Legal Title 
    Vendor as Conditional Constructive Trustee of Property under Contract of Sale 
    Summary

    10. Tracing

    Tracing at Common Law 
    Tracing in Equity 
    Tracing and Romalpa Clauses 
    No Tracing Where Agent a Mere Debtor 
    Does Defence of Change of Position apply to Law of Tracing? 
    Backward Tracing? 
    Summary

    11. The Rights of Life Tenant and Remainderman Regarding Income and Capital

    Rule in Howe v Lord Dartmouth 
    Apportionment Legislation 
    Distinguishing Capital from Income: Company Shares and Pastoral Properties 
    Burden of Loss or Expenditure to be Borne as between Capital and Income 
    Rule in Allhusen v Whittell 
    Summary

    12. The Rule Against Perpetuities and the Rule Against Accumulations

    Statement of Rule Against Perpetuities 
    Statement of Rule Against Accumulations 
    Summary

    Index

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