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
Labels:
Trust
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