LL6001 - Equity and Trusts (2021/22)
|Module specification||Module approved to run in 2021/22|
|Module title||Equity and Trusts|
|Module level||Honours (06)|
|Credit rating for module||30|
|School||Guildhall School of Business and Law|
|Total study hours||300|
|Running in 2021/22||
The Law of Equity and Trusts is a core module for the LL.B. courses, which introduces students to the key principles of the law relating to equity, trusts and the administration of estates. It is one of the foundation subjects of English Law, as identified by the professional legal bodies, the Solicitors Regulation Authority and the Bar Standards Board.
It introduces and builds up a critical understanding of the legal concepts regarding the resolution of issues of property ownership.
Trusts, including settlements, charities and pension funds, play a vital part in the economic life of the country and are increasingly recognised as indispensable modes of wealth protection or asset mobilisation throughout the world.
The module aims to develop several key transferable skills including independent research, critical analysis, legal drafting and academic writing in the context of the law of equity and trusts, emphasising the use of primary and secondary sources of law.
Student employability will be enhanced by the development both of these skills, and by
the practise of written and oral communication skills and group participation skills.
Prior learning requirements
Students must have passed LL5004
1. Nature and Classification of Equitable Rights LO 1 and 2
The Nature of Equitable Rights and the relationship of Common Law and Equity
Trusts: definition, early history, classification and functions of the trusts in the modern economy.
Liability of fiduciaries for secret profits
Constructive trusts and liability to account.
Equitable rights in land
2. Transfers of Property Rights LO 1 and 2
Passing of legal title to goods by sale or gift.
Assignment and negotiation of choses in action.
Dispositions of and priority between equitable interests.
Formalities and certainties for creation of express trusts.
Constructive trusts arising from specifically enforceable contracts to sell.
Incomplete voluntary transfers.
3. Security and Restitution LO 1 and 2
Retention of legal or equitable title
Proprietary remedies; tracing at law and in equity.
Intermeddling: trustees de son tort
Receivers from fiduciaries
4. The Family Home
Co-Ownership Of Land
Creation at common law and /or in equity (including resulting and constructive trusts)
5. Property and Wealth Preservation LO 1 and 2
Taxation and trusts
Trusts for successive interests
Maintenance and accumulation trusts
Protective and discretionary trusts
Trusts of Land: strict settlements and trusts for sale
Advancements and variation of trusts
Management of funds: fiduciary duty, duty of care, investments, trustees powers
Balance of independent study and scheduled teaching activity
Learning & Teaching Strategy
Weekly two-hour lecture and one-hour seminar.
The lecture will be used for:
Dissemination of knowledge through an overview of each topic with detailed guidance on appropriate aspects;
An introduction to relevant academic literature;
Guidance on learning strategies;
Use of blackboard and IT resources;
Whole group questions and discussion.
The seminar will be used for:
Development of skills necessary to attain the module learning outcomes through:
Written and oral questions/answers designed to reinforce fundamental rules/principles/cases;
A range of step by step writing exercises;
IT tasks such as research of cases and statutes
All learning materials, previous examination questions and sample Q/A’s will be on blackboard for use in directed private study.
Student engagement will be encouraged in both lectures and seminars through weekly use of Weblearn for access to all of the above materials.
There will be required use of the professional legal databases, especially Westlaw and Lexis Library, for legal research
Opportunities for reflective learning/pdp
Each weekly seminar will contain space for students to reflect on what they have learnt in relation to the overall syllabus. There will be frequent feedback opportunities structured into the timetable and a range of sample answers posted onto Weblearn.
Employability strategy will aim to acquaint students with a range of employment avenues both in the legal profession and in those professions into which legal qualifications and skills are transferable.
Student’s Study Responsibilities
The need for attendance, punctuality, preparation and engagement will be emphasised with particular reference to written and IT research, problem-solving, team-work, discussion, debate and critical awareness of the subject.
On successful completion of this module, the students will be able to:
1. Independently research and appraise a contentious case-study within the law of equity and trusts and to draft professional style legal documents in relation to the issues arising.
2. Demonstrate the ability to propose analytical solutions to legal problems and to assess, appraise and critically analyse contemporary issues relating to the law of equity and trusts in a time-constrained environment.
Description of assessment items.
1. Legal Drafting Exercise
The students will draft preparatory legal documents relating to a realistic case-study involving issues of the law of equity and trusts.
2. Time Constrained Examination
Written examination to demonstrate the ability to solve legal problems and critically analyse contemporary issues relating to the law of equity and trusts in a time-constrained environment.
Pearce, R, Stevens J and Barr, W Law of Trusts and Equitable Obligations (OUP)
Edwards, R, and N Stockwell, Trusts and Equity (Pearson Longman )
Martin, JE, Equity and Trusts, (Thomson Sweet & Maxwell)
Warner-Reed, E, Equity and Trusts (Living Law series) (Pearson Longman)
Watt, G, Trusts and Equity (OUP)
Law Quarterly Review
Westlaw and Lexis Library