15. Variation of Trusts

2019 ◽  
pp. 725-744
Author(s):  
Paul S Davies ◽  
Graham Virgo

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter shows how a variation of trust occurs in cases where all the beneficiaries of a trust are of full age, under no disability, and in agreement to terminate the trust and resettle the trust property on a new trust, varying the original trust. In cases of necessity, the court has an exceptional inherent jurisdiction to vary a trust. The Variation of Trusts Act 1958 enables the court to consent to the variation of a trust on behalf of certain actual or potential beneficiaries who are unable to consent to the variation. The Act enables the revocation of an existing trust and establishment of a new trust, but only where the new trust can be regarded in substance as similar to the old trust.

2019 ◽  
pp. 637-667
Author(s):  
Paul S Davies ◽  
Graham Virgo

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter begins with a definition of the nature of dispositive powers and duties and how they relate to the distribution of trust property to beneficiaries or objects. They are sometimes referred to as ‘beneficial’ powers and duties. It is hard to draw the distinction between dispositive and administrative powers and duties, but it is a necessary distinction since different rules relate to administrative and dispositive powers and duties. Trustees may have various powers relating to the appointment of trust property to beneficiaries, and there are various consequences of a dispositive power not being exercised. These include liability for breach of trust and the court’s exercising the power instead. Sometimes the trustees may be authorized by the court to exercise the power late.


2019 ◽  
pp. 173-281
Author(s):  
Paul S Davies ◽  
Graham Virgo

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter discusses the charitable trust — its definition and the consequences of its failure. A charitable trust is defined as a public trust for purposes that provide a benefit to the public or a section of the public and is a trust subject to supervision by the Charity Commission. A trust is only considered charitable if it is established for a purpose that the law regards as charitable. The purposes of the trust must be wholly and exclusively charitable otherwise the trust will be void. The consequences of the charitable trust failing depend on whether the failure occurs initially or subsequently. If the purpose fails initially and the settlor had a general charitable intention, the trust property can be applied for a similar charitable purpose through the application of a body of rules known as the cy-pres doctrine. If the purpose fails subsequently the cy-pres doctrine will apply automatically.


2019 ◽  
pp. 117-170
Author(s):  
Paul S Davies ◽  
Graham Virgo

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter discusses the formality requirements that must be met in the creation of express trusts. As an example, a declaration of an express trust over land is presented here, which formally requires signed writing. Trusts created by a will also need to satisfy formality requirements and must be constituted by title to the trust property being vested in the trustee. A trust can be constituted using two mutually exclusive methods: by declaration of oneself as a trustee or by transfer of property to trustees. Neither half-secret nor fully secret trusts will comply with statutory formality requirements but, subject to the fulfilment of certain conditions, they will be regarded as valid to ensure that the statutory formalities are not used as an instrument of fraud.


2019 ◽  
pp. 23-62
Author(s):  
Paul S Davies ◽  
Graham Virgo

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter presents an introduction to the legal mechanisms of a trust, which involves a trustee or trustees holding property rights on behalf of another or for an identified purpose. A trustee is obliged in Equity to exercise those rights for that person or purpose. The law of trusts is primarily concerned with the different rights that various people might have following the creation of a trust. There is particular controversy about the nature of the beneficiary’s rights to trust property. There are a variety of reasons why someone would wish to create a trust, with the consequent separation of legal and equitable title, and a number of categories of trust exist, the operation of which is influenced by the context in which the trust arises.


2019 ◽  
pp. 491-531
Author(s):  
Paul S Davies ◽  
Graham Virgo

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter focuses on the beneficiary of a trust, and how this beneficiary possesses a variety of equitable rights arising from the trust, the nature of which will depend on the type of trust that has been created. Beneficiaries enjoy certain rights but do not have a right to inspect trust documents; however, disclosure of such documents can be ordered through the exercise of judicial discretion. In the case of a fixed trust, beneficiaries possess proprietary rights in the trust property and also a variety of personal rights. On the other hand, objects of a discretionary trust do not have any proprietary rights to trust property but have a variety of personal rights. To terminate the trust, its adult beneficiaries can unanimously agree to terminate it, but only if between them they are absolutely entitled to the beneficial interest.


Derrida Today ◽  
2013 ◽  
Vol 6 (1) ◽  
pp. 97-114 ◽  
Author(s):  
Christopher Morris

Over the past thirty years, academic debate over pornography in the discourses of feminism and cultural studies has foundered on questions of the performative and of the word's definition. In the polylogue of Droit de regards, pornography is defined as la mise en vente that is taking place in the act of exegesis in progress. (Wills's idiomatic English translation includes an ‘it’ that is absent in the French original). The definition in Droit de regards alludes to the word's etymology (writing by or about prostitutes) but leaves the referent of the ‘sale’ suspended. Pornography as la mise en vente boldly restates the necessary iterability of the sign and anticipates two of Derrida's late arguments: that there is no ‘the’ body and that performatives may be powerless. Deriving a definition of pornography from a truncated etymology exemplifies the prosthesis of origin and challenges other critical discourses to explain how pornography can be understood as anything more than ‘putting (it) up for sale’.


GEOgraphia ◽  
2018 ◽  
Vol 19 (41) ◽  
pp. 24
Author(s):  
Elson Luciano Silva Pires ◽  
Lucas Labigalini Fuini ◽  
Wilson Bento Figueiredo Filho ◽  
Eugênio Lima Mendes

A palavra governança não é nova. Ela perpassa por diversos períodos da história e assume significados específicos em determinadas épocas e países. Atualmente, o conceito de governança designa todos os procedimentos institucionais das relações de poder e das formas de gestão públicas ou privadas, tanto formais como informais, que regem a ação política dos atores. O objetivo deste artigo é problematizar os fatores explicativos das teorias institucionalistas que tratam a governança territorial como uma condição necessária para estabelecer compromissos entre os atores, com vistas ao desenvolvimento econômico, social e político das metrópoles, das cidades e seus territórios locais e regionais. Enfrentar as lacunas do debate acadêmico e coadunar os conceitos da literatura internacional referente à governança territorial, em especial a de matriz francesa, com a nacional, são um dos principais contributos deste artigo. REVISITING TERRITORIAL GOVERNANCE: INSTITUTIONAL DEVICES, INTERMEDIATE NOTIONS AND REGULATORY LEVELS Abstract The word governance is not new. It goes through different periods of history and takes specific meanings in certain times and countries. Currently, the concept of governance can be defined as institutional procedures of power relations and of public or private forms of management, which can be formal as well as informal, that govern political actions of political actors. The purpose of this article is to analyze the explanatory factors of institutionalist theories that approach territorial governance as a necessary condition to establish compromises among actors, seeking an economic, social, and political development of metropolis, cities, and their regional and local territories. One of the main contribution of this paper is to address the gaps in academic debate, and to relate national Brazilian concepts to international literature concerning territorial governance, in particular the French theoretical framework. Keywords: Institutional forms; territorial governance; modes of regulation. LA GOUVERNANCE TERRITORIALE REVISEE: DISPOSITIFS INSTITUTIONNELS, NOTIONS INTERMÉDIAIRES ET NIVEAUX DE RÉGULATION Resumé Le mot gouvernance n'est pas nouveau. Il traverse diverses périodes de l'histoire et prend des significations spécifiques à certains moments et pays. Actuellement, le concept de gouvernance désigne toutes les procédures institutionnelles de relations de pouvoir et de formes de gestion publiques ou privées, formelles ou informelles, qui régissent l'action politique des acteurs. L'objectif de cet article est de problématiser les facteurs explicatifs des théories institutionnalistes qui traitent la gouvernance territoriale comme une condition nécessaire pour établir des compromis entre les acteurs, en vue du développement économique, social et politique de la métropole, des villes et de leurs territoires locaux et régionaux. Faire face aux lacunes du débat académique en accord avec les concepts de la littérature internationale sur la gouvernance territoriale, notamment la matrice française, avec la matrice nationale, sont l'une des contributions majeures de cet article. Mots-clés: Formes institutionnelles; gouvernance territoriale; modes de régulations


Author(s):  
Maribel Guerrero ◽  
Vesna Mandakovic ◽  
Mauricio Apablaza ◽  
Veronica Arriagada

AbstractThe academic debate in migrant entrepreneurship has mainly focused on movements from emerging economies into developed economies. Anecdotal evidence has suggested that the highest impact is generated by migrants in/from emerging economies. To extend this academic discussion in the Latin-American context, this study investigates why migrants are more entrepreneurial than natives. By adopting the human capital and the institutional approach, we theorize that individual and environmental conditions produce selection/discrimination effects in the host labour market. Consequently, these effects influence migrants’ decision to become entrepreneurs. We tested our hypotheses using a sample of 13,368 adults between the ages of 18–64 based across the 16 Chilean regions. Our results showed that being a high-skilled migrant in a dynamic emerging economy is not a guarantee of success in the labour market, but it is a determinant of international and necessity-driven entrepreneurship. Several implications and a provocative discussion emerged from these findings.


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