Equity and Trusts

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Abstract

This subject covers the historical development of equity and its relationship to common law, the assignment and other dispositions of property in equity, the obligation of confidence in equity with respect to information, and fiduciary duties. A substantial component of the subject is dedicated to the study of trust law. Students will consider the nature of a trust; legal requirements in establishing a trust; as well as the rights, duties and powers associated with trusts. Students will also be introduced to remedial constructive trusts.

Syllabus

The nature of equityEquitable rights, titles and interestsAssignments and non-assignable rightsFiduciary obligationsCreation of express trusts, variation and terminationDuties, rights and powers of trusteesBeneficiary rights under a trustEstoppel in equityTracingUnconscionable transactionsResulting and constructive trustsConsequences of breach of trustEquitable remedies including equitable compensation, account of profits and injunction

The nature of equity
Equitable rights, titles and interests
Assignments and non-assignable rights
Fiduciary obligations
Creation of express trusts, variation and termination
Duties, rights and powers of trustees
Beneficiary rights under a trust
Estoppel in equity
Tracing
Unconscionable transactions
Resulting and constructive trusts
Consequences of breach of trust
Equitable remedies including equitable compensation, account of profits and injunction

Learning outcomes

Upon successful completion of this subject, students should:

be able to demonstrate awareness of the principles of equity and trusts and their relationship to the broader Australian legal landscape, including property law and the law of contract;

be able to analyse critically different types of trusts, including remedial constructive trusts, and reflect upon social policies underpinning this area of the law;

be able to critique the roles of trustee and beneficiary in respect to important case law;

be able to identify and evaluate equitable doctrines and remedies and apply them to practical scenarios;

be able to engage critically with the philosophies behind equitable relief;

be able to evaluate critically the role played by equity in common law jurisdictions;

be able to demonstrate an in-depth understanding of the legislative framework surrounding unconscionable conduct;

be able to articulate important legal concepts in a logical and persuasive manner; and

be able to evaluate the use of equitable doctrines and remedies in scenarios concerning Indigenous people and communities, and those disadvantaged before the law.

Enrolment restrictions

Bachelor of Laws and the Bachelor of Laws/Criminal Justice students only.

Pre-requisite

Learning activities

LAW218