Equity And Trust Ii

1. Explain the origin, nature, and uses of trusts.
2. Classify different types of trusts and their characteristics.
3. Identify the requirements for creating valid trusts.
4. Analyze the duties and powers of trustees.
5. Evaluate the legal consequences of breach of trust.
6. Understand the process of estate administration.

13 weeks, about 30 hours in total. Yours will differ.

1. Week 1Module 1: Nature and Classification of Trusts

   • Unit 1: Origin and Nature of Trusts · 2 hours

     Read the introduction to understand the historical context of trusts.. Define trust and explain its nature.. Differentiate between trust law, customary law, and the Land Use Act.. Identify the practical uses of trusts..

2. Week 2Module 1: Nature and Classification of Trusts

   • Unit 2: Classification of Trusts · 2 hours

     Understand the different classifications of trusts.. Describe the relationship between private and public trusts.. Explain the relevance of classifying trusts..

3. Week 3Module 1: Nature and Classification of Trusts

   • Unit 3: Requirements for Creation of Trusts · 2 hours

     Understand the legal capacity required to create a valid trust.. Analyze the legal position regarding land ownership.. Know the requirements for creating trusts inter vivos and by will.. Understand the effect of non-compliance..

4. Week 4Module 1: Nature and Classification of Trusts

   • Unit 4: Constitution of Trusts and the Exceptions · 2 hours

     Determine whether a trust is constituted.. Explain the requirements for constituting trusts in personalty and realty.. Identify instances when writing is not required for realty.. Discuss covenant to settle and its enforcement..

5. Week 5Module 1: Nature and Classification of Trusts

   • Unit 5: Express Private Trusts · 2 hours

     Describe express private trusts.. Understand the requirements for express private trusts.. Know the features of the three certainties.. Apply the given postulant test and its limitations..

6. Week 6Module 1: Nature and Classification of Trusts

   • Unit 6: Charitable Trusts · 2 hours

     Distinguish between charitable and private trusts.. Know the essential features of charitable trusts.. Mention the major divisions of charitable trusts.. Understand the laws guiding charitable trusts in Nigeria..

7. Week 7Module 2: Resulting, Constructive and Other Trusts

   • Unit 1: Resulting Trusts · 2 hours

     Understand what a resulting trust is and when it arises.. Explain the presumption of advancement.. Explain how the presumption of advancement can be rebutted..

8. Week 8Module 2: Resulting, Constructive and Other Trusts

   • Unit 2: Constructive Trusts · 2 hours

     Describe constructive trusts.. Know the features of constructive trusts.. Explain the circumstances that can give rise to constructive trusts.. Know practical situations that can justify the imposition of constructive trusts..

9. Week 9Module 2: Resulting, Constructive and Other Trusts

   • Unit 3: Discretionary Trusts · 2 hours

     Know the essential features of discretionary trusts.. Understand the limited rights of beneficiaries and the wide discretion of trustees.. Explain why courts cannot influence trustees' discretion.. Understand the types of discretionary trusts and their practical uses..

10. Week 10Module 2: Resulting, Constructive and Other Trusts

    • Unit 4: Protective Trusts · 2 hours

      Know the essential features of a protective trust.. Explain the rights of beneficiaries under a protective trust.. Understand situations when beneficiaries can be deprived of income.. Understand practical uses of protective trusts..

11. Week 11Module 2: Resulting, Constructive and Other Trusts

    • Unit 5: Trusts in Favour of Creditors · 2 hours

      Know what trusts in favor of creditors are.. Understand the features and formality of trusts in favor of creditors.. Explain the advantage of securing a creditor's interest by trust.. Explain the legal consequences of declaring a trust of a company's assets..

12. Week 12Module 3: Appointment, Duties, Breach of Trust, Retirement and Removal of Trustees

    • Unit 1: Appointment of Trustees · 2 hours

      Understand the manner of appointing trustees expressly.. Explain what happens if no trustee is appointed.. Understand circumstances when the court can appoint trustees.. Explain the statutory hierarchy for appointing trustees..

    • Unit 2: Duties of Trustees · 2 hours

      State the duties of a trustee.. Explain why some duties appear harsh.. Give circumstances when a trustee may be absolved of liability.. Explain the equitable underpinnings of some duties..

13. Week 13Module 3: Appointment, Duties, Breach of Trust, Retirement and Removal of Trustees

    • Unit 3: Powers of Trustees · 2 hours

      State the powers of a trustee and their limitations.. Explain why some powers are germane to performing duties.. Give practical examples of beneficial discretion.. Explain why courts don't interfere with trustees' discretion..

    • Unit 4: Breach of Trust · 2 hours

      State what kind of trustees' act can amount to a breach of trust.. Understand the extent of a trustee's liability and how it is measured.. State grounds upon which a trustee may be relieved from liability.. Explain the remedies for breach of trust..