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Property and Trusts 3.
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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Coursework Assignment Module Title: Property and Trusts 3 (2nd Component) Module Code: LW3031 Module Leader: Peter Halstead Student Number: 0164798 Word Count: 2,457 Trustees are given two specific categories that they can operate in. The first one is the power to act with regards to the trust and the trust property. This power is discretionary and need only be used when the trustee feels that it is in the best interest of the trust. Using this power is not compulsory and all trustees must agree on the exercise of it. The second capacity is a duty to act. A trustee has certain duties that are obligatory. Failure to carry out these duties will result in the trustee breaching the trust. When it comes to carrying out a duty, unanimous agreement of all trustees is not needed. Unlike a power, a majority vote on the course of action to take will suffice. When the majority is...
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