NaimExplain

What cases may a trust purpose be fulfilled whilst the property is still on trust? Answer: Where property is given for the maintenance or education of specified persons (kids might get full education but their property still on trust)

What happens in equity if the settlor has done everything they can to transfer the property? Answer: Equity does not perfect an imperfect gift Pennington, it merely finds the trust completely constituted from the day the settlor has done everything they can (or unconscionable to recall)

What is the guiding principle in the constitution of trusts by conveyance? Answer: The settlor must do everything in their power to transfer the property - Re Rose (settlor done all in his power to divest himself of shares), Milroy (failed to register the transfer of property), Pennington (donor intended to make an immediate gift of shares, would have been unconscionable for her to recall them, fully constituted)

What happens if conveyance requirements are not fully complied with? Answer: Where the settlor has done everything in their power to transfer the title to the property but cannot ensure compliance with some formality which is outside their control, will be completely constituted

What must you do to completely constitute a trust by conveyance? Answer: 1 effective transfer of the property to be included in the trust 2 settlors intention to convey is not enough - McArdle, Milroy (the settlor must have done everything which it is necessary to do to effect the transfer)

What if the subject matter is a definite but unidentified portion of asset or assets? Answer: Uncertain - where the asset is tangible (ie cases of wine) and it is not segregated. Certain - may be if asset is of an intangible nature - Hunter, shares found certain