Equity and Trust (Elective IV, option B)

Unit 1 — INTRODUCTION

1.1 The concept of trust: distinction with agency and contract. · 1.2 Development of law: common law and equity 20 · 1.3 Trusts: classification

Unit 2 — DEFINITION AND NATURE OF TRUSTS UNDER THE INDIAN LAW.

2.1 Creation of trusts: rules

Unit 3 — DUTIES OF TRUSTEE

3.1 Execution · 3.2 Acquaintance with the nature of property · 3.3 Duties in respect of title · 3.4 Duty of care · 3.5 Conversion · 3.6 Impartiality · 3.7 Prevention of waste · 3.8 Keeping of accounts and giving of information · 3.9 Investment · 3.10 Sale · 3.11 Liability for breach of trust.

Unit 4 — RIGHTS OF TRUSTEES

4.1 Title deed · 4.2 Reimbursement · 4.3 Indemnity · 4.4 Seeking direction from court · 4.5 Settlement of accounts · 4.6 General authority

Unit 5 — POWERS OF TRUSTEES

5.1 Sale · 5.2 Varying of investment · 5.3 Property of Minors · 5.4 Giving receipts · 5.5 Powers to compound, compromise and settle · 5.6 Exercising authority on death or disclaimer of one of the trustees · 5.7 Suspension of trustee’s power

Unit 6 — DISABILITIES OF TRUSTEES

Unit 7 — RIGHTS OF BENEFICIARIES

7.1 Rents and profits · 7.2 Specific execution · 7.3 Inspection and information 21 · 7.4 Transfer · 7.5 Suit for execution · 7.6 To have proper trustees · 7.7 Right to compel the trustee to do the duties · 7.8 Rights on wrongful purchase or acquisition by trustees · 7.9 Follow up of trust properties in the hands of third parties · 7.10 Blending of property by trustee · 7.11 Wrongful application of trust property by partner trustee for partnership purposes.

Unit 8 — LIABILITIES OF BENEFICIARIES

Unit 9 — DISCHARGE OF TRUSTEES

Unit 10 — APPOINTMENT OF NEW TRUSTEE

Unit 11 — EXTINCTION OF TRUST

Unit 12 — CONSTRUCTIVE TRUSTS: THE EQUITABLE AND FIDUCIARY RELATIONSHIP

12.1 Transfer without intent to dispose beneficial interest · 12.2 Trust incapable of execution and trusts executed fully without exhausting property – the cypress doctrine · 12.3 Transfer and request for illegal purpose · 12.4 Transfer pursuant to rescindable contract · 12.5 Debtor becoming creditor’s representative · 12.6 Advantage from undue influence · 12.7 Advantage by qualified owner · 12.8 Property acquired with notice of existing contract · 12.9 Purchase by person contracting to buy property to be held on trust · 12.10 Possession of property without whole beneficial interest · 12.11 Duties of constructive trustees · 12.12 Rights of bonafide purchasers

Unit 13 — SPECIAL LEGISLATION

13.1 Charitable and religious trust · 13.2 Budget Accounts and Audit · 13.3 Public Trust Administration Fund · 13.4 Offences and penalties

Unit 14 — MAXIMS OF EQUITY