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11 Cards in this Set

  • Front
  • Back
Duty actively to watch over and correct behaviour of fellow trustees
Styles v Guy (1849)
Duty of care (investment and delegation) – to exercise such care and skill as is reasonable having regard to any special knowledge trustee has or holds themselves out to have
TA2000, s1
Trustees are only liable if the breach caused the loss. The loss exists if the D trustee made less than the reasonable T would have, doing their duties.
Nestle v NatWest
Exception: if profit and loss from same breach, they can offset each other
Bartlett v Barclays (1980)
Courts tend not to use discretion to relieve honest and reasonable trustees of liability if they are professional
Bartlett v Barclays (1980)
Courts won't generally let professional trustees off the hook even if acting on advice from others.
National Trustee Co of Australia
Exclusions in trust instruments removing liability for Trustee breaches are void for fraudulent breaches
Armitage v Nurse (1997)
To consent to a breach, Benny need not know he is concurring to a breach of trust as long as he knows what is agreed to.
Re Pauling's Settlement Trust (1964)
The court may order such contribution as just and equitable with regard to levels of blame/responsibility
Civil Liability (Contribution) Act 1978, s2
Where a co-trustee received trust property and used for own benefit, a defendant trustee can claim an indemnity if sued.
Bahin v Hughes (1886)
Where a T blindly followed the advice of a co-trustee who is a solicitor, he can recover full indemnity but:
- Has to show CT exerted such a controlling influence T did not use
own judgement
Re Partington (1887)
Heald v Gould (1898)