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Preface
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xi
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Table of cases
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xii
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Table of statutes
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xxix
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List of abbreviations
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xxxv
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Part A Introduction
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1 An overview of equity
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2
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What is equity?
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3
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A map of equity
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13
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The maxims of equity
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20
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What's online?
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21
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Part B Equitable Remedies
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2 An introduction to equitable remedies
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24
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Introduction
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25
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Personal and proprietary remedies
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26
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The objectives of equitable remedies
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28
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What's online?
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31
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3 Specific performance, injunctions and equitable damages
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32
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Introduction
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33
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Specific performance
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33
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Injunctions
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40
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Plaintiff's remedy if specific performance or injunction are denied
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51
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Equitable damages
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51
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Are equitable damages available for equitable wrongs?
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52
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How are equitable damages assessed?
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54
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What's online?
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55
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4 Monetary remedies in equity
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56
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Accounts of profits
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57
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How are accounts of profits calculated?
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58
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Equitable compensation
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61
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How is equitable compensation calculated?
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63
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What's online?
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70
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5 Rescission, rectification and declarations
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71
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Introduction
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72
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When can a voidable transaction be rescinded?
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72
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The aim of rescission
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73
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Rescission at common law and in equity
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73
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Total and partial rescission
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74
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The election to rescind
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75
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Restoring the parties to their pre-contractual position
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76
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The proprietary consequences of rescission
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77
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Bars to rescission and pecuniary restitution
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78
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Rectification
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79
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Declaration
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81
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What's online?
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83
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6 Bars to relief
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84
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Introduction
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85
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Laches
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85
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Acquiescence
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87
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Unclean hands
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88
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Hardship
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91
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Effect of order on third parties
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92
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What's online?
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93
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Part C Equity, Contract and Property
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7 Equity in contract law
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96
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Introduction
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97
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Estoppel and promise enforcement
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97
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Equity and voidable transactions
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103
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Undue influence
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105
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Unconscientious conduct
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110
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The rule in Yerkey v Jones and the Garcia case
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113
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Equity and substantive fairness: penalties and relief from forfeiture
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116
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What's online?
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121
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8 Equitable proprietary interests
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122
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Introduction
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123
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The nature of equitable ownership
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125
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Priority disputes and the doctrine of notice
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126
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Equities and equitable interests
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127
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What's online?
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129
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9 Equitable assignments
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130
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Introduction
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131
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Assignment of legal property
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132
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Assignment of equitable property
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141
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Statutory assignment
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143
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What's online?
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149
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Part D Equitable Obligations
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10 Fiduciary obligations
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152
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Introduction
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153
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Fiduciary relationships
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154
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Fiduciary obligations
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162
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What's online?
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172
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11 Participants in a breach of fiduciary obligation
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173
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Introduction
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174
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Third party liability: the rule in Barnes v Addy
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176
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Other forms of participatory liability
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187
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What's online?
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188
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12 Breach of confidence
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189
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Introduction
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190
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The equitable obligation of confidence
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190
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Defences to breach of confidence
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197
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Protection of private information
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199
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Remedies for breach of confidence
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202
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What's online?
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205
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Part E Express Trusts
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13 The concept of the express trust
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208
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Introduction
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209
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Definition
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209
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Trusts and related concepts
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218
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What's online?
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224
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14 Certainty requirements in the law of trusts
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225
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Introduction
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226
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Certainty of intention
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227
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Certainty of subject-matter
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235
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Certainty of objects
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237
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What's online?
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245
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15 Creating an express trust
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246
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Introduction
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247
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Methods of creating a trust
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247
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Testamentary trusts
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251
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The doctrine of incorporation by reference
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252
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Incompletely constituted trusts
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252
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Trusts and public policy
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253
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What's online?
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255
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16 Trusts for charitable and non-charitable purposes
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256
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Introduction
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257
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A valid trust for a purpose
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257
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Historical development of the charitable trust
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258
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Trusts for the aged, impotent and poor
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259
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Trusts for the advancement of education
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261
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Trusts for the advancement of religion
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262
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Trusts for other purposes beneficial to the community
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263
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The ‘public benefit’
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267
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Trusts for multiple purposes
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269
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Administrative schemes
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270
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Trusts for non-charitable purposes
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272
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Problems with purpose trusts
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272
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What's online?
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275
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Part F Performing the Trust
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17 Trustees’ duties and powers
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278
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Introduction
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279
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Sources of the trustee's duties and powers
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279
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Duties on assumption of trusteeship
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280
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Ongoing management duties
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282
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Duties of performance
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287
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Trustees’ powers
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296
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Exercise of power and review
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296
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Effect of improper exercise of discretion
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302
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What's online?
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303
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18 Investment of trust funds
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304
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Introduction
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305
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Sources of trustees’ investment powers
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305
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The statutory model
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307
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Investing prudently
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309
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Review of investments
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311
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Applying other duties of law and equity to investing
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312
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Matters to be considered by the trustee when investing
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317
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Exculpatory provisions
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319
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What's online?
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321
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19 Trustees’ rights and liabilities
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322
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Introduction
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323
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Trustees’ liabilities
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323
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Trustee's right of indemnity
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323
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The status of the trustee's right of indemnity
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324
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Indemnification by the beneficiaries
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331
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Trustee's right to impound beneficiary's interest
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334
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Trustee's right of contribution from co-trustees
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334
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Trustee's right to recover overpayment from a beneficiary
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335
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What's online?
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336
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Part G Breach of Trust
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20 Breach of trust: Defences and remedies
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338
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Introduction
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339
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Exculpation and defences
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339
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Exculpation in the trust instrument
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339
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Statutory exculpation
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343
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Equitable defences
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346
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Remedies in the context of breach of trust
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348
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Monetary remedies for breach of trust
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349
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Non-monetary remedies for breach of trust
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353
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Standing to sue
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355
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What's online?
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355
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21 Tracing
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356
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Introduction
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357
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Tracing and claiming at common law and in equity
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358
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A fiduciary requirement?
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359
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The equitable tracing rules
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360
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Defences to equitable tracing claims
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368
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What's online?
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369
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Part H Non-consensual Trusts
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22 Resulting trusts
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372
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Introduction
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373
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Why does equity recognise resulting trusts?
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374
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The presumption of advancement
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376
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Application of the presumptions to family property
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379
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Voluntary transfers of property
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384
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Resulting trusts arising on failure of an express trust
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384
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Resulting trusts arising in other cases of failure of basis: the Quistclose trust
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386
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What's online?
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388
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23 Constructive trusts
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389
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Introduction
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390
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The constructive trust compared with other trusts
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390
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Categories and principles
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391
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The ‘common intention’ constructive trust and family property disputes
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393
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The Baumgartner constructive trust
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395
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The constructive trust as a remedy for estoppel
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402
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Constructive trusts imposed for breach of fiduciary obligation
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403
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The constructive trust imposed over stolen money and its proceeds
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406
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The constructive trust as a restitutionary remedy for unjust enrichment
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407
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The doctrine of mutual wills
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409
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Constructive trusts imposed over property transferred under specificallyenforceable contracts
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411
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What's online?
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413
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Index
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414
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