Case Study involving Trust laws Example | Topics and Well Written Essays - 1000 words

Involving Trust laws - Case Study Example Although the law is dealing with the Property Act it also extends to other aspects of equitable interest. Under the Section 5 (1) of the Wills Act, 1988, â€Å" it is seen that every person may dispose by will, executed in accordance with this Act, of all real estate and all personal estate owned by him at the time of his death† (Wills Act 1988. 2005). In this case it is seen that a trust has been created in favour of Ben and he has nominated Richard to hold the 2000 shares in trust on his behalf. Through his written will, he has directed that 950 of the above shares may be bequeathed to his Accountant, Tom, to be held on behalf of his nephew, Andrew, the legal beneficiary of the gifted shares. In the decided case of Goldcorpe RE 1995, 1 AC 74, claims for non allocated bullion could not be enforced. Ordinary members of the public were inveigled into investing in non-existent bullion, on the strength of allotment letters given to them for staking their claim on future bullion. When Company subsequently went into liquidation, they claimed beneficial interest on future bullion on the basis of this allotment letter. The Courts held that the bullions were not earmarked and could not be enforced.In another decided case of Saunders v. Vantier(1841) 4 Beav.115, a trust was created that upon the death of the uncle, certain shares would be bequeathed to the nephew, along with its incomes, till he reached the age of 25. The nephew laid claim to the gift upon reaching the age of majority, i.e., 21 years. The Courts held that the validity of the gift had passed on from the uncle to the nephew upon his passing away, it being intended to be an immediate gift. Therefore, the claim for the property to the nephew from the uncle was passed on immediately upon his gaining majority age: (Theriault 2002). The case of Hunter v Moss (1994), whose decision was delivered before the Gold Corpe Re (1995) case, 1 AC 74.which relates to 50 shares of a total of 950, being verdicted to be a genuine trust, without uncertainty of matter, which was not considered in the case of Gold Corpe Case (1995). The Court of Appeals, in this case, validating the decisions of the High Court (1993) I WLR 934, stated that a statement of trust, of, effectively 50 shares out of a total number of 950 shares in a Company, could not be said to be a void contract, on the grounds of the uncertainly of subject matter; in this case the learned judged observed that allocation of particulars shall be considered superfluous since all the shares carry

Taisho period Essay Example | Topics and Well Written Essays - 1750 words

Taisho period - Essay Example (Minichiello S. (1998) Japan's Competing Modernities: Issues In Culture and Democracy, 1900-1930, p.3) It is also marked by serious pollution problems, resulting from Meiji industrial policy. Except for these tendencies, the health of a new emperor was weak and this fact led to the shift in political power from oligarchic clique to the parliament and democratic parties. It is customary to call this shift and the related events the Taisho democracy. (Minichiello S. (1998)) Large, Stephen S. (1983) states that at the beginning of the century a growing mass consciousness represented a main tendency in social life. Due to increasing taxation, people wished to play more significant role in social life, thus increasing a number of voting people. One of the most remarkable demonstrations of popular unrest was Hibiya Riot that occurred because oligarchs didn't inform people about the events of war. In the period between 1905 and 1918 economy of Japan changed from agricultural to industrial, while Japan was looking for export market for the new commodities. One of the most remarkable facts of social life during Taisho period was the growth of the population. The agricultural pattern remained the same, but industrial cities grew. This growth may be either a result of the migration from countryside to the cities or a natural growth of the urban population.( Minichiello S. (1998) Japan's Competing Modernities: Issues In Culture and Democracy, 1900-1930, p.7) The researches distinguish between agricultural and non-agricultural economy in prewar Japan. They point out the following reasons for this differentiation: the agriculture reached the top of its output, for greater income it should have changed to larger-scale agriculture but this process could conflict with the social structure; the economic consequences of imperialism, when colonies produced food, depressing agricultural prices in Japan; the power of landlords remained the same so the tenancy problem wasn't resolved. (Minichiello S. (1998) Japan's Competing Modernities: Issues In Culture and Democracy, 1900-1930, p.7) Large, Stephen S. (1983) writes that after the 1st World War the exports failed, and inflation grew. These circumstances aroused economic opposition to governing classes; a number of mass demonstrations grew, as well as the popular demand for participating in social life. In December 1912 collapse in the Cabinet of Saionji Kimmochi seemed to become a factor promoting the ideas of democracy, bringing broad political rights through universal suffrage and true parliamentarism. Yoshino Sakuzo was one of the representative thinkers (1878-1933), who invented the notion of minponshugi (people-centrism). Yoshino's idea of minponshugi enjoyed great publicity from 1916, and still is regarded as the ultimate liberal idea of prewar Japan. Yoshino's notion of minponshugi called for the redistribution of power and wealth in Japanese society by institutionalizing the political system of popular representation; and, by employing various social programs to protect the weak and poor. A new society - Shinjinkai appeared in December 1918. It based upon the dual platform - liberation of mankind and rationalistic reform of present day Japan. This organization was influenced firstly by English social democracy, and then it experienced the