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  • Equity & Trust Ii (Ueq3622) TRI 2, 2020/2021 Tutorial 1

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    Azreen Azlan
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    The document discusses the distinction between trusts and powers. It notes that while a trust imposes obligations on a trustee for the beneficiary, a power gives discretion to the donee. However, the dividing line is not always clear, especially in borderline cases involving discretionary trusts. Whether an arrangement is a trust or power depends on properly construing the language of the relevant legal instrument. Discretionary trusts can also be exhaustive or non-exhaustive, adding further complexity.

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    The document discusses the distinction between trusts and powers. It notes that while a trust imposes obligations on a trustee for the beneficiary, a power gives discretion to the donee. However, the dividing line is not always clear, especially in borderline cases involving discretionary trusts. Whether an arrangement is a trust or power depends on properly construing the language of the relevant legal instrument. Discretionary trusts can also be exhaustive or non-exhaustive, adding further complexity.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    20 views1 page

    Equity & Trust Ii (Ueq3622) TRI 2, 2020/2021 Tutorial 1

    Uploaded by

    Azreen Azlan
    The document discusses the distinction between trusts and powers. It notes that while a trust imposes obligations on a trustee for the beneficiary, a power gives discretion to the donee. However, the dividing line is not always clear, especially in borderline cases involving discretionary trusts. Whether an arrangement is a trust or power depends on properly construing the language of the relevant legal instrument. Discretionary trusts can also be exhaustive or non-exhaustive, adding further complexity.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    EQUITY & TRUST II (UEQ3622)

    TRI 2, 2020/2021

    TUTORIAL 1

    Trust and Powers

    1. “Trust is a legal relationship created inter vivos or on death – by a person, the settlor, when assets
    have been placed under the control of a trustee for the benefit of a beneficiary or for a specified
    purpose.”

    (Hague Convention on the Recognition of Trusts).

    Discuss.

    (explain the

    - A trust is imperative and a power is discretionary. The diving line is not clear all the times.

    - The importance of the distinction between trust and power lies in the extent of the obligations imposed on a
    trustee as compared with the donee of a power.

    2. “But it is difficult in borderline cases to draw a dividing line between discretionary trusts and powers
    … The decision turns on the proper construction of the language of the instrument. The matter is
    made more difficult by reason of the fact that a discretionary trust may be ‘exhaustive’ or ‘non-
    exhaustive”.

    (Hansbury and Martin, Modern Equity, 17 th Edn, Sweet & Maxwell, 2005, at p64).

    Discuss.

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