PARKER AND MELLOWS:THE MODERN LAW OF TRUSTS EIGHTH DEITIONPDF电子书下载

1.INTRODUCTION 1

Ⅰ.The Trust Today 1

Ⅱ.The Definition of a Trust 12

Ⅲ.The Distinction Between Trusts and Other Legal Concepts 22

2.THE CLASSIFICATION OF TRUSTS 37

Ⅰ.Statutory, Express, Implied, Resulting and Constructive Trusts 37

Ⅱ.Simple and Special Trusts 39

Ⅲ.Executed and Executory Trusts 40

Ⅳ.Completely and Incompletely Constituted Trusts 41

Ⅴ.Fixed and Discretionary Trusts 41

Ⅵ.Private and Public Trusts 41

Ⅶ.New Classifications? 42

3.THE ESSENTIAL INGREDIENTS OF A TRUST 46

Ⅰ.Certainty 46

Ⅱ.The Beneficiary Principle 74

4.THE FORMAL REQUIREMENTS FOR THE CREATION OF A TRUST 95

Ⅰ.Capacity to Create a Trust 95

Ⅱ.The Statutory Requirement of Writing 96

Ⅲ.Secret Trusts 114

5.THE CONSTITUTION OF A TRUST 135

Ⅰ.Introduction 135

Ⅱ.When will a Trust be Completely Constituted? 136

Ⅲ.The Distinction Between Executed and Executory Trusts 160

Ⅳ.When a Trust is Incompletely Constituted, when will the Beneficiaries have a Contractual Remedy? 163

6.DISCRETIONS AND POWERS 177

Ⅰ.The Nature of Discretions and Powers 177

Ⅱ.The Exercise of Discretions and Powers 201

Ⅲ.When will the Exercise of Discretions and Powers be Improper? 212

Ⅳ.When can Discretions and Powers be Released? 225

Ⅴ.The Position of the Potential Beneficiaries 230

7.LEGALITY OF A TRUST 236

Ⅰ.Generally 236

Ⅱ.Perpetuities and Accumulations 238

Ⅲ.Safeguarding Property from Creditors 255

Ⅳ.Safeguarding Property from Claims by Dependants 262

8.PROTECTIVE TRUSTS 264

Ⅰ.Determinable Interests 265

Ⅱ.Protective Trusts 265

9.IMPLIED OR RESULTING TRUSTS 271

Ⅰ.Introduction 271

Ⅱ.Purchase in the Name of Another 274

Ⅲ.Voluntary Conveyance or Transfer 277

Ⅳ.The Rebuttable Nature of the Presumptions 279

Ⅴ.Failure of a Trust or its Beneficial Interests 291

Ⅵ.Resulting Trusts Arising as a Result of Void or Voidable Transactions 308

10.CONSTRUCTIVE TRUSTS 312

Ⅰ.Introduction 312

Ⅱ.Advantages obtained by Fiduciaries Breaching Their Duty of Loyalty 330

Ⅲ.Dispositions of Trust Property in Breach of Trust 370

Ⅳ.Advantages Obtained by Fraudulent or Unconscionable Conduct 407

Ⅴ.Mutual Wills 430

Ⅵ.The Vendor as Constructive Trustee 438

Ⅶ.The Mortgagee as Constructive Trustee 440

Ⅷ.Transfers of Property which are at Law Incomplete 440

11.CHARITABLE TRUSTS 442

Ⅰ.Introduction 442

Ⅱ.Distinctions from Private Trusts 443

Ⅲ.The Definition of Charity 448

Ⅳ.The Classification of Charitable Trusts 451

Ⅴ.The Cy-Pres Doctrine 482

Ⅵ.The Administration of Charities 493

12.PENSION TRUSTS 503

Ⅰ.The Nature of Pension Schemes 504

Ⅱ.Special Features of Pension Trusts 516

Ⅲ.Interests under Pension Trusts and Third Parties 532

Ⅳ.Winding Up Pension Schemes 536

13.THE APPOINTMENT, RETIREMENT AND REMOVAL OF TRUSTEES 543

Ⅰ.Types of Trustee 543

Ⅱ.The Appointment of Trustees 549

Ⅲ.The Retirement of Trustees 565

Ⅳ.The Removal of Trustees 568

Ⅴ.The Delegation of Trusteeship 570

14.THE ADMINISTRATION OF TRUSTS 573

Ⅰ.The Trustees’ Duty of Care 573

Ⅱ.Joint Acts 577

Ⅲ.Trustees’ Discretions and Powers 578

Ⅳ.The Duty to Provide Information 581

Ⅴ.Administrative Powers Relating to Trust Property 590

Ⅵ.Investing the Trust Property 592

Ⅶ.The Employment of Agents 611

Ⅷ.Payments to Beneficiaries 616

Ⅸ.Payment of Trustees’ Expenses 618

Ⅹ.Applications to the Court 619

15.THE TAXATION OF A TRUST 624

Ⅰ.Stamp Duty 624

Ⅱ.Income Tax 629

Ⅲ.Capital Gains Tax 633

Ⅳ.Inheritance Tax 639

16.APPORTIONMENTS 653

Ⅰ.Apportionments Between Capital and Income 653

Ⅱ.Other Apportionments 660

Ⅲ.Apportionments Relating to Stocks and Shares 663

Ⅳ.Apportionments in Respect of National Savings Certificates 670

Ⅴ.Apportionment of Outgoings 671

Ⅵ.Excluding Apportionments 671

17.INCOME FROM THE TRUST FUND 672

Ⅰ.The Income of The Trust Fund 672

Ⅱ.Gifts Carrying Income 675

Ⅲ.The Retention of Income 678

Ⅳ.The Maintenance of Minor Beneficiaries 682

Ⅴ.Taxation Consequences 688

18.APPLICATIONS OF TRUST CAPITAL 693

Ⅰ.Expenses from Capital 693

Ⅱ.Advancements 694

Ⅲ.Advancements into Settlement 700

Ⅳ.Other Applications of Capital 707

Ⅴ.Appropriation 709

19.THE POSITION OF A BENEFICIARY UNDER A TRUST 711

Ⅰ.The Beneficiary’s Right To Information 711

Ⅱ.The Control of Trustees’ Discretions 712

Ⅲ.The Right to Compel Due Administration 715

Ⅳ.The Right to Enforce Claims 716

Ⅴ.The Right to Terminate a Trust 717

20.TRUSTEES’ REMUNERATION AND BENEFITS 721

Ⅰ.Modern Commercial Remuneration Terms 722

Ⅱ.Express Charging Clauses 722

Ⅲ.No Express Charging Clause 727

Ⅳ.Other Situations Where a Trustee can Charge 730

Ⅴ.Directors’ Fees 735

Ⅵ.Commissions 738

Ⅶ.Commercial Profits 739

Ⅷ.Other Financial Benefits 739

21.VARIATION OF TRUSTS 741

Ⅰ.Management and Administrative Variations 741

Ⅱ.Variation of Beneficial Interests 743

22.BREACH OF TRUST 761

Ⅰ.The Liability of a Trustee for His Own Acts 762

Ⅱ.The Liability of a Trustee for the Acts of His Co-Trustees 763

Ⅲ.The Measure of Liability 764

Ⅳ.The Position of Trustees Inter Se 776

Ⅴ.Limitation of Actions 778

Ⅵ.Relief or Exemption from Prima Facie Liability 785

Ⅶ.Personal Claims Against Third Parties 794

Ⅷ.Legal Proprietary Claims 800

Ⅸ.Equitable Proprietary Claims 807

23.TRUSTS IN THE CONFLICT OF LAWS 839

Ⅰ.Situations where Private International Law is Relevant 841

Ⅱ.The Jurisdiction of the English Courts 847

Ⅲ.What Law will the English Courts Apply? 854

Ⅳ.The Enforcement by English Courts of Foreign Trusts Judgments 865

24.EXPORTING TRUSTS 867

Ⅰ.Motives 867

Ⅱ.The Legacy of Exchange Control 868

Ⅲ.Taxation 871

Ⅳ.How Trusts are Exported 881

Ⅴ.When Non-Resident Trustees may be Appointed 883

Ⅵ.Exporting Part of the Trust 888

Index 891