PPL424
Question: What is meant by the beneficiary principle
Answer: every trust must have someone who can enforce it
Question: Which of the following relaionships will not give rise to the presumption of advancement?
Answer: a gift from a wife to a husband
Question: What is meant by precatory words?
Answer: words of recommendation, request, entreaty, wish or expectation employed in wills
Question: What is the definition of a fiduciary?
Answer: Someone who acts for another in a relationship of trust and confidence
Question: The testator’s will provided that N30,000 should be held on trust for such of his friends as his trustees should think most deserving. Identify the reason why this trust would fail
Answer: administrative unworkability
Question: Proprietary estoppel is similar to which of the following
Answer: An express trust common intention constructive trust
Question: The testators will provided that the ˜bulk of his estate should be held on trust for his son, James. Idenitfy the reason why this trust would fail?
Answer: there is uncertainty of objects
Question: What is meant by the term remedial constructive trust?
Answer: a mechanism for combating unjust enrichment
Question: What is the test for certainty of objects in a discretionary trust
Answer: The list test
Question: If Angela seeks to claim a beneficial interest in the home and has evidence that there was an agreement that she should have a share and that she acted to her detriment in reliance on that agreement, which of the following would be appropriate as the basis on which to found her claim
Answer: [C] A resulting trust
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