Monday, 26 August 2013

Breach of trust

Court order: specific performance, or appoint a new t'ee. personal liability proprietary liability A third part may be personally liable as well by assisting the breach of trust trust account: records of the rights coming into and going out of the trust fund taking of/calling for an account: B sues t'ee for breach of trust falsify an account: when the t'ee has entered into a transaction which is not authorised, or he has paid to a person who is not a beneficiary of the trust, B can failsy the account in respect of that particular transaction Remedy - t'ee restore the breach (e.g. buy back the property, any difference comes out from his own pocket). If he cannot restore it, he has to pay from his own pocket Surchaging - the trust fund has less value than it should have had, due to negligence of t'ee strict liability, can escape when: 1) B consent to the breach 2) exemption clause 3) s.61, 1925, court relieve

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