About the Lawcards Series
Trusts Lawcards Glossary
Click on the glossary term to see the definition
Chapter 1
- Administrator (Feminine: administratrix)
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The person who administers the estate of someone who had died intestate.
- Beneficiary
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Person for whose benefit property is held on trust.
- Beneficiary Principle
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For a trust to be valid there must be somebody in whose favour the court can decree performance.
- Bequeath
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To leave property other than freehold land by will.
- Bona fide
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Good faith.
- Bona vacantia
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Property which is not in the ownership of any person and so goes to the Crown.
- Cestui que trust
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term for beneficiary.
- Common law
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Judge-made law made by the courts of common law.
- Constructive trust
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Trust imposed by the courts where it would be unconscionable for the legal owner of property to assert his/her own beneficial interest and deny that of another.
- Cy-près
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Applying property as close as possible to the donor's original wish
- Damages
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Compensation paid to an injured party.
- Devise
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To leave freehold land by will (same as bequeath but in respect of land)
- Executor (Feminine executrix)
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Person who administers the estate of someone who has left a will.
- Express trust
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Trust expressly created.
- In loco parentis
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In the place of the parent.
- Injunction
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Equitable remedy which either commands that an action be done or prevents the carrying out of an action.
- Inter vivos
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During the lifetime
- Intestate
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Dying without leaving a will
- Laches
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Equitable principle under which delay in claiming an equitable remedy can mean that the claim is defeated.
- Locus standi
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Right to bring an action
- Mortis causa
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On the death of
- Obiter dicta
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That part of a judgement which is not part of the actual reason for the decision but which can form a valuable guide in similar cases.
- Pari passu
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On an equal footing; proportionally.
- Personalty
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Personal property i.e. property other than freehold land.
- Private trust
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Trust for the benefit of individuals as distinct from a public trust which is for purposes.
- Realty
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Real property i.e. freehold land.
- Rescission
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Equitable remedy restoring the parties to their pre contract position.
- Rectification
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Equitable remedy rectifying a contract to make it accord with the intentions of the parties.
- Residuary estate
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Property left by will which is anything not disposed of specifically.
- Resulting trust
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A trust which is implied by the court which has the effect of returning property to the settler.
- Settlor
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Creator of an inter vivos trust.
- Specific performance
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Equitable remedy which commands the carrying out of contractual obligations.
- Sui juris
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Of full age and capacity.
- Testator (Feminine Testratrix)
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Person who executes a will which may contain a trust.
- Tracing
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The process of identifying assets against which an equitable remedy may be sought
- Trustee
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A person who holds property in a fiduciary capacity for the benefit of another.
- Trustee in bankruptcy
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A person who acts on behalf of creditors.
- Unjust enrichment
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Means by which a defendant who has been unjustly enriched at the expense of the claimant is compelled to restore property.
- Ultra vires
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Beyond the powers.
- Volunteer
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Person who is promised property without having provided consideration.