Paul v Paul
1882 · (1882) 20 Ch D 742
Posted By lanbuk.com
- Facts
- A married couple made a settlement. They later separated and wanted the settled money paid back to them.
- Issue
- Could the settlors take back property from a completely constituted ?
- Held
- No. The Court of Appeal held that the trust was complete and could not be undone at the settlors' will.
- Principle
- Once a trust is completely constituted, the cannot revoke it unless he reserved a power.
- Why it matters
- It shows the effect of complete constitution.
Words and Latin in this note
- Settlor
- The person who creates an express trust by declaring himself trustee or transferring property to trustees. Open the note.
- Trust
- An arrangement in which a trustee holds property at law but must use it for beneficiaries, or for a charitable purpose. The beneficiaries have the equitable interest. Open the note.
For study only. By lanbuk.com. Always check current sources and consult a qualified professional.