Trusts
Module title | Trusts |
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Module code | LAW3041C |
Academic year | 2024/5 |
Credits | 30 |
Module staff | Mr Nick Pointon (Convenor) |
Duration: Term | 1 | 2 | 3 |
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Duration: Weeks | 12 | 11 |
Number students taking module (anticipated) | 100 |
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Module description
This module introduces students to the law of equity and trusts, including its development, practice and role in shaping various trust instruments and restitutionary claims. It explores and critically appraise how these concepts are applied in modern commercial contexts and changing social conditions. It will also focus on providing students with an understanding of how to use trust instruments and models of ownership effectively, as well as their importance and function in modern-day practice.
The module meets the subject requirements for the Law Society and Bar Standards Board foundations of legal knowledge subject, Equity and Trusts.
Module aims - intentions of the module
The module’s aims are:
- to give you an understanding of the origin and development of the traditional concepts of equity, trusts and restitution, as well as an appreciation of how these essential tools are utilised in various ways in modern-day commercial contexts;
- to teach you the varied terminology, theoretical foundations, core principles and key rules of equity and trusts;
- to provide you with the opportunity to interrogate and evaluate the essential role of trusts in a number of modern-day commercial, non-commercial and private client contexts;
- to provide you with the opportunity to evaluate the efficacy and issues inherent in different trust instruments and models of ownership;
- to equip you with an understanding of the essential role of equitable remedies, proprietary claims and restitution, and their underlying principles and concepts;
- to give you an opportunity to critique and potentially manipulate their use in practice;
- to develop your understanding of the dynamic nature of law, building on study throughout your course of study (and especially in relation to law of contract and law of property);
- to develop your skills of commercial awareness, legal research and the written and oral communication of legal analysis.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Demonstrate detailed knowledge of the different types of legal obligation arising under the law relating to equity trusts and restitution;
- 2. Explain and critically apply the main principles and rules governing equity, trusts and restitution;
- 3. Critique and evaluate developments in the laws relating to equity, trusts and restitution.
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 4. Demonstrate in-depth knowledge and understanding of a range of legal concepts and principles;
- 5. Structure and develop effective legal research, analysis and argumentation;
- 6. Critically apply the law to factual scenarios;
- 7. Communicate technical legal information and argument effectively and concisely.
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 8. Take responsibility for independent learning;
- 9. Identify retrieve and use a range of library-based and electronic resources with little guidance;
- 10. Manage time independently and efficiently in preparing for learning activities and assessments.
Syllabus plan
Whilst the precise content may vary from year to year, it is envisaged that the syllabus will cover all or some of the following topics:
- Introduction to equity, trusts and the concept of beneficial ownership
- Classification of trusts and distinction of trusts from other legal concepts
- Creation of trust instruments
- Requirements of certainty in relation to trust instruments
- Trustee duties and powers
- Breach of trust
- Investment trusts
- Private wealth management and the offshore trust industry
- Charitable trusts
- Constructive and resulting trusts
- Equitable remedies
- Fiduciary obligations
- Pallant v Morgan and proprietary estoppel
- Proprietary and restitutionary claims
- Remedies and defences in restitution
Learning activities and teaching methods (given in hours of study time)
Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
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47.5 | 252.5 | 0 |
Details of learning activities and teaching methods
Category | Hours of study time | Description |
---|---|---|
Scheduled learning and teaching activity | 20 | 20 x 1-hour lectures |
Scheduled learning and teaching activity | 13.5 | 9 x 1.5-hour teacher-led seminars |
Scheduled learning and teaching activity | 3 | Mock in-person examination workshop |
Scheduled learning and teaching activity | 2 | 1 x 2 hour formative group feedback and peer marking workshop |
Scheduled learning and teaching activity | 9 | 28 tutor recorded videos available through ELE2 (c. 9 hours in total) |
Guided independent study | 85 | Individual reading and lecture preparation |
Guided independent study | 95 | Seminar preparation |
Guided independent study | 16 | Formative assessment preparation |
Guided independent study | 56.5 | Summative assessment preparation |
Formative assessment
Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
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Mock in-person examination | 2 hours | 1-10 | Peer-to-peer guided marking exercise and group written feedback, with supplementary oral feedback available |
Summative assessment (% of credit)
Coursework | Written exams | Practical exams |
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60 | 40 | 0 |
Details of summative assessment
Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
---|---|---|---|---|
Essay | 60 | 3,000 words | 1-5-7-10 | Individual written feedback, with supplementary oral feedback available |
In-person examination | 40 | 2 hours 30 mins | 1-10 | Individual written feedback, with supplementary oral feedback available |
Details of re-assessment (where required by referral or deferral)
Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
---|---|---|---|
Essay (3,000 words) | Essay (3,000 words) | 1-10 | August/September reassessment period |
In-person examination (2 hours 30 mins) | In person examination 2 hours 30 mins | 1-10 | August/September reassessment period |
Indicative learning resources - Basic reading
Graham Virgo, The Principles of Equity and Trusts (5th edn, OUP 2023)
Gary Watt, Trusts and Equity (10th edn, OUP 2023)
Indicative learning resources - Web based and electronic resources
ELE2 – Course: Trusts (LAW3041C_T_12_202324) (exeter.ac.uk)
Web based and electronic resources:
The Law Society (News updates on Trusts): www.lawsociety.org.uk/topics/private-client/trusts
Credit value | 30 |
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Module ECTS | 15 |
Module pre-requisites | LAW2004C Contract Law |
Module co-requisites | None |
NQF level (module) | 6 |
Available as distance learning? | No |
Origin date | 13/10/2017 |
Last revision date | 17/01/2024 |