LAW6002 - Equity and Trusts

Objectives:

On successful completion of the module, students will be able to:
Demonstrate depth of knowledge and understanding of the operation and fundamental principles of the law of equity and trusts, the difference between legal and equitable interests; types of trusts and their creation; trustee; beneficiaries; fiduciary duties; and remedies.
Demonstrate knowledge and understanding of the legal concepts, values, principles and rules of equity and trusts, and their inter-relationship, within relevant contexts.
Demonstrate an awareness of principles and values of law and justice, and ethics in relation to the law of equity and trusts.
Present coherent legal argument, making a reasoned choice between alternative solutions.
Synthesise relevant issues and information in solving legal problems.

Content:

This module enables students to acquire a depth of knowledge and understanding of the main legal principles and issues of the law of equity and the law of trusts, and covers:

- Difference between legal and equitable interests
- Creation of express trusts
- Resulting trusts
- Constructive trusts
- Charitable and non-charitable purpose trusts
- Trustees: their appointment, removal, powers, duties and liabilities
- Fiduciary duties and remedies for breach of these duties
- Knowing receipt of trust property and dishonest assistance in breach of trust or fiduciary duty
- The rights, remedies and powers of beneficiaries, including proprietary remedies after tracing
- Equitable remedies: specific performance, injunctions, rescission, rectification and proprietary remedies,

or such other content as may be specified by the SRA and BSB for QLDs.

The module also enables students to develop awareness of the issues surrounding equity and trusts, practical and ethical implications, and to evaluate the operation of equity and trusts within society, and to appreciate the social, economic and political contexts and underlying policy issues relating to their operation, and their impact.

In covering the module content, the seminars will also provide particular training and support for key legal skills: to carry out independent research in relation to different types of cases and needs; to consider how legal principles can be applied to both actual and hypothetical facts, and to be able to do so taking either side of a case. In undertaking the practical development of these skills, this module will develop skills in legal analysis, research and argumentation that have been formed and trained in both LAW5042 Advanced Legal Skills and in LAW5032 Torts. The module covers the Equity and the Law of Trusts Foundation of Legal Knowledge under the Joint Statement as required by the SRA and BSB for a QLD, and the SRA Statement of Legal Knowledge under "10. Trusts and equitable wrongs".

Learning and Teaching Information:

The module will be delivered through seminars that combine aspects of lectures, workshops, group tutorials, directed learning and formative feedback.

The first half of the module will be assessed through an essay that outlines the principles and legislation governing equity and trusts. To prepare students for this, the sessions will enable the acquisition of knowledge and understanding, but the focus will be on deep learning: making links between the various definitions, Acts, agents, and transactions or relationships involved, doing so across a range of sample cases and scenarios designed to test grasp of accuracy and detail.

In the second half of the module the students will be prepared for an exam that is designed to test their ability to think on their feet and to enable them to demonstrate their secure understanding of the key principles of equity and trusts and, in particular, the ability to apply this understanding securely in specific instances. Again, the teaching will be problem-based and practice-led, honing the specific intellectual skills and developing student confidence.

Lectures/workshops/tutorials
Hours: 36
Intended Group Size: Cohort

Guided independent study
Hours: 164

Further details relating to assessment
The three-hour exam at 60% and 2,500-word essay at 40% are standard requirements in the sector and, although exceed the Leeds Trinity University guidelines, are justified on the basis that the module is a Foundation Subject, which is required for the award of a Qualifying Law Degree. At Level 6, the expectation is that students should be engaging with a higher level of complexity, and the word count for the essay is increased from Level 4 and Level 5 to allow students to develop their thinking, provide critical judgement, consider alternative or competing arguments, and evidenced conclusions.

Assessment:

001 Essay 2,500 words end of Semester 1 40%
002 Written unseen exam; 3 hours; end of Semester 2 60%

Fact File

Module Coordinator - Teresa Aksamit
Level - 6
Credit Value - 20
Pre-Requisites - NONE
Semester(s) Offered - 6YL

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