Saunders v Vautier
1841 · (1841) 4 Beav 115
Posted By lanbuk.com
- Facts
- Stock was left on to accumulate the dividends until a reached 25, and then to transfer it to him. He asked for it at 21.
- Issue
- Could he end the trust before 25?
- Held
- Yes. He was an adult, of sound mind and absolutely entitled, so he could call for the property.
- Principle
- Adult beneficiaries of sound mind who together are entitled to the whole beneficial interest can end the trust.
- Why it matters
- It shows that beneficiaries, not the , ultimately control the property.
Words and Latin in this note
- Beneficiary
- A person entitled to the benefit of trust property in equity, who can make the trustees carry out the trust. Open the 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.