The 7th edition of Understanding Equity and Trusts provides a clear, accessible and lively overview of the main themes in this dynamic area of the law. An ideal first point of entry to the subject or revision tool, this book will give you an invaluable grounding in all of the key principles of equity and the law of trusts. This book covers all of the topics that a student reader will encounter in any trusts law or equity course. The text deals with express trusts, resulting and constructive trusts, the duties of trustees, breach of trust and tracing, commercial uses of trusts, charities, equitable remedies and trusts of homes.

Recent years have seen increased interest in international philanthropy and cross-border charitable giving. A new generation of high-net-worth individuals, keen to dedicate part of their wealth to philanthropic purposes, and an increasingly global charitable landscape raise a range of complex issues. What is a 'charity'? Does that definition vary from one jurisdiction to another? Are domestic charities taxed differently to foreign organizations? Written by a team of experts from around the world, International Charitable Giving provides a detailed and much-needed treatment of the interaction between the various legal systems at play in this complicated area of the law. By untangling the many issues facing practitioners, it facilitates clear and comprehensive advice to donors and recipients alike. The book provides a comprehensive picture of the most important issues relevant to charitable giving and philanthropy worldwide, including taxation, issues surrounding money laundering and terrorist financing, and the role of EU Law. Alongside a thorough discussion of the broader issues impacting on charitable donation, the book includes a range of chapters on specific national legal systems, including Switzerland, Israel, and Hong Kong, as well as a chapter on Islamic Law. Each of the jurisdictions has been selected because of its tradition of charitable giving and relevance to the transfer of charitable monies internationally, as well as its importance in relation to the jurisprudence in the field. Expertly written, these chapters provide a detailed survey of the laws, regulations, and policies governing charities and their activities in the relevant jurisdiction, together with an examination of the procedures to be followed for tax-efficient transborder charitable giving.

Highly regarded, and cited in a number of judgments, Thomas on Powers is concerned with the general principles and doctrines governing or affecting the creation, exercise, and operation of powers in private law, and provides a discursive, intellectual analysis of the principles underlying the problems commonly encountered by practitioners. The first edition of Thomas on Powers was published in 1998 as part of Sweet & Maxwell's Property and Conveyancing Library. This new edition both updates the original work and expands the scope of the book significantly to include coverage of offshore trusts and current trusts issues such as fiduciary powers, protectors, and "shams". Thomas on Powers provides extensive coverage of recent statutes dealing with trustee delegation; developments to the law relating to pension schemes; and cases relating to the rule in Hastings-Bass, which has had a series of contentious recent decisions. This edition includes expanded discussion of case law from Commonwealth countries and focuses more on the numerous judgments from offshore jurisdictions, some of which raise novel questions and issues. The book also includes an increased emphasis on the specific legislation of offshore trusts, where practical problems centred around the creation and exercise of trustee powers have become very important. This edition covers the problematic interaction of powers of revocation and sham trusts; the scope and effects of powers of amendment; the powers and role of protectors of offshore trusts; and the powers of directors of companies; and the relationship between fiduciary powers in private law and powers exercised by public bodies.

This book provides an economic account of why trusts exist and how trust law should be shaped. The trust is a key legal institution in the common law world but it has been neglected by the law and economics community until recently. Borrowing theories and doctrines from corporate law and economics, scholars have variously analyzed and described the trust as a tripartite contract, a nexus of contracts, and even a legal entity. These obligational approaches overlook the unique features of trusts for which corporate legal theories have no explanation. Most importantly, they fail to account for the nature of the beneficiary's interest in the trust property.
This book presents an original analysis of the common law of trusts, arguing that trust law is about the trust property and the principal parties' relationships with it. At the same time it questions recent trends in trust law, especially those in offshore jurisdictions. Exotic developments such as non-charitable purpose trusts, settlor-retention of wide powers, and generous trustee exemption clauses have become the new normal and, coincidentally, draw analytical support from obligational accounts. It develops an analysis of trusts from a proprietary perspective, and applies the property-based approach to the economic analysis of trusts - explaining the economic benefits of trusts as an extension of the law of property. It also demonstrates how, once trusts are properly understood as property, it becomes obvious why these novel developments can only be for the worse, and should be reversed.

A comprehensive, stimulating introduction to trusts law, which provides readers with a clear conceptual framework to aid understanding of this challenging area of the law. Aimed at readers studying trusts at an undergraduate level, it provides a succinct and enlightening account of this area of the law.
Concise and clear, this book also identifies and discusses many analytical perspectives, encouraging a deeper understanding of the issues at hand. It offers an outstanding treatment of specific areas, in particular remedial constructive trusts and trusts of family homes. Ideal for providing a broad background to the issues before embarking on an in-depth study of trusts, it can also be used to help the reader to develop their understanding. For those looking to challenge themselves, detailed footnotes highlight further issues and point the direction for future reading.
Fully revised to take into account the Charities Act 2006, judicial developments through case law, and recent academic work in this area, this new edition in the renowned Clarendon Law Series offers a well-written, careful, and insightful introduction to the law of trusts.

This new edition of The Law of Trusts provides comprehensive and up to date coverage of both the general principles and the application of trust law in specific areas of legal practice.
The book has been fully revised and updated to take into account recent legislation and case law from key trust jurisdictions, and to include new material on the rule in Hastings-Bass; different applications of the constructive trust; trustees' liability for breach of trust; the taxation of trusts and estate planning; trusts of pension schemes and financial regulation. It also contains expanded material on areas that have recently grown in importance, such as the emergence of shams and retention of control of trust assets by the settlor; and the growing use of Special Purpose Vehicles in offshore commercial dealings.
The book is helpfully split into two parts along these lines: Part One considers the general principles involved and includes coverage of: all aspects of express private trusts; the duties and powers of trustees; the variation of trusts; trusts implied by law; and breach of trusts. Part Two puts the general principles to work by covering key practice areas including: insolvency; private client trusts; international trusts; pension funds; financial transactions; commercial transactions; and trusts of land. This is a substantial work written by expert academics who also have experience of practice, supported by contributions from key specialists.

The growing interest in investment in Latin America - particularly in commodities production and real estate development - has increased the use of trusts as investment vehicles throughout Latin America. Written for the English-speaking practitioner, the book covers Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, Paraguay, Peru, Uruguay and Venezuela and provides a practical, clear, and thorough explanation of trusts as legal vehicles for investment in Latin American countries. Trusts in Latin America provides a comprehensive, comparative review of statutes, case law, and examples of trusts in Latin America, and also highlights differences between these countries and common-law systems.

This work counters the common perception that equity and trusts is a static area of law. The essays, written by leading academics and well established practitioners of the field, demonstrate both that the area is vibrant with new legislation and case law and shows the value of reconsidering familiar topics in the light of new developments.
The scope of the book is wide ranging, covering equity, trusts and property and is divided into two main sections: the law of real property, and the law of equity and trusts. In Part One, a variety of topics surrounding the law of real property are discussed: from unconscionability, and the protection of third party interests, to property, marriage and ownership, and the impact of equality law on landlord and tenant regulations. Part Two focuses on the regulation of trusts and trustees and the impact of new legislation on charities such as hospitals and schools.

Key Facts Key Cases: Equity & Trusts will ensure you grasp the main concepts of your Equity & Trusts module with ease. This book explains the facts and associated case law for: * The nature of a trust, the creation of express private trusts and purpose trusts * Constitution of trusts * Types of trust: secret, protective and discretionary, resulting and constructive and charitable * Trusteeship and the powers and duties of trustees * Varying trusts * Breach of trust and available remedies Key Facts Key Cases is the essential series for anyone studying law at LLB, postgraduate and conversion courses. The series provides the simplest and most effective way to absorb and retain all of the material essential for passing your exams. Each chapter includes: * diagrams at the start of chapters to summarise key points * structured headings and numbered points to allow for clear recall of the essential points * charts and tables to break down more complex information Chapters are also supported by a Key Cases section which provides the simplest and most effective way to absorb and memorise essential cases needed for exam success. * Essential and leading cases are explained * The style, layout and explanations are user friendly * Cases are broken down into key components by use of a clear system of symbols for quick and easy visual recognition

This major new contribution to the literature on charity law is the result of collaboration between an expert academic and a leading practitioner in the field. The combination of their different skills and experience produces an in-depth analysis of the law that is informed both by detailed scholarship and an understanding of how charity law really operates in practice today. It incorporates analysis of the likely effects of the Human Rights Act 1998 and of the important changes made by The Finance Act 2000 and The Trustee Act 2000.

Praise for Private Equity

"Harold Bierman has blended an excellent mix of important principles with real case study examples for a better understanding on a rather sophisticated finance subject."
–Edward M. Dudley, Vice President & General Auditor, ABB Americas

"The role of private equity firms in financing buyouts as well as providing growth capital has expanded significantly in the past decade. In a clear, concise way, Harold Bierman provides a timely and astute analysis of the virtues of private equity as well as creative quantitative methodologies that are applicable to real-life transactions. This book should become essential reading for investors, intermediaries, financial advisors and the management of private, almost private, or soon-to-be private firms."
–James A. Rowan Jr., Managing Director, Investment Banking
Legg Mason Wood Walker, Inc.

"As the private equity asset class has grown to over $300 billion in the last three years, Bierman analyzes the fundamentals behind the investment decisions of this increasingly important sector. Once completing the book, you will understand the fundamental analytical framework underlying private equity investment."
–Peter Nolan, Partner, Leonard Green and Partners

"In looking at the private equity arena, Professor Bierman has brought together a diverse group of metrics and valuation formulas into a single text. The book provides a valuable combination of academic theory and real-life case studies. It provides many insights."
–Peter H. Vogel, Vice President, MeadWestvaco Corporation

This book seeks to provide an extensive analysis of the equitable doctrine of marshalling in the way that it applies to secured debt. There is detailed and systematic reference to the application of marshalling in the United Kingdom, in particular the conditions that must be satisfied before marshalling will assist a secured creditor and the limitations imposed on its effective operation. There is also substantial comparative material with extensive analysis of Commonwealth law and selected US authorities. This book will appeal equally to those specialists working in equity, banking and finance law and to commercial lawyers more generally.

Constructive trusts significantly interfere with the rights of an apparent legal owner of property. This makes it necessary for their imposition to be properly explained and justified. Unfortunately, attempts to rationalise constructive trusts as a whole-as opposed to specific doctrines or particular aspects of constructive trusts-have been few and far between. Rationalising Constructive Trusts proposes a new structure for a coherent understanding of constructive trusts. By using a combination of conceptual tools, it provides answers to a number of crucial questions, for example: What are the ingredients of a constructive trust claim? What are the limits of constructive trusts? How can we rationalise the imposition of constructive trusts in particular situations? Why do judges exercise varying degrees of remedial discretion in different doctrines? From a wider perspective, the structured understanding helps us to appreciate the precise ambit and role of express, constructive, and resulting trusts.

The amendments to the law of wills brought about by the Law of Succession Amendment Act of 1992 have created fundamental changes in South African testamentary law. This book analyzes the Wills Act as now amended. It deals with such topics as language usage generally, taking instruction from would-be testators, the structure of wills, estate duty, the limits to freedom of testation, the interpretation of wills, donation of human tissues, the so-called living will, traps to avoid in drafting, testamentary trusts, and other problems which practitioners commonly have to handle. It discusses important cases which have shaped testamentary law and gives examples of wills and testamentary trusts.

The 7th edition of Understanding Equity and Trusts provides a clear, accessible and lively overview of the main themes in this dynamic area of the law. An ideal first point of entry to the subject or revision tool, this book will give you an invaluable grounding in all of the key principles of equity and the law of trusts. This book covers all of the topics that a student reader will encounter in any trusts law or equity course. The text deals with express trusts, resulting and constructive trusts, the duties of trustees, breach of trust and tracing, commercial uses of trusts, charities, equitable remedies and trusts of homes.

This is a traditionally organized Trusts and Estates casebook that draws its materials exclusively from the case law and statutes of Wisconsin. The materials consist of judicial opinions from the Wisconsin Supreme Court, lower state courts, and federal courts operating in Wisconsin, as well as substantial materials taken from the current Wisconsin Statutes pertaining to probate, wills and intestacy, marital property, will substitutes, trusts, and fiduciary duties. A limited number of notes highlight the areas in which Wisconsin law departs from the national norm. As a consequence of the state specific focus of the text and the fact that cases are drawn from across the span of Wisconsin's history, it is possible to see the way in which the law of wills and trusts (and professional responsibility) has responded to changing social circumstances and evolving patterns of wealth distribution. About the author: Prof. J. Gordon Hylton, is a graduate of Oberlin College and the University of Virginia Law School, and holds a PhD in the History of American Civilization from Harvard University. He has taught at the Marquette University Law School since 1998, and has also taught at Chicago-Kent College of Law and as a visiting professor at Washington University, Washington and Lee, and the University of Virginia. He is the co-author of two Property Law Casebooks, Property Law and the Public Interest (Lexis/Nexis, 3rd ed. 2007) and A Concise Introduction to Property Law (Lexis/Nexis 2011). He is a former member of the Wisconsin Supreme Court's Committee on Wisconsin Legal History and a member of the American Society for Legal History.

In this volume charity commissioners and leading charity policy reformers from across the world reflect on the aims and objectives of charity regulation and what it has achieved. Regulating Charities represents an insider's review of the last quarter century of charity law policy and an insight for its future development. Charity Commissioners and nonprofit regulatory agency heads chart the nature of charity law reforms that they have implemented, with a 'warts and all' analysis. They are joined by influential sector reformers who assess the outcomes of their policy agitation. All reflect on the current state of charities in a fiscally restrained environment, often with conservative governments, and offer their views on productive regulatory paths available for the future. This topical collection brings together major charity regulation actors, and will be of great interest to anyone concerned with contemporary third sector policy-making, public administration and civil society.

This monograph aims to provide an in-depth analysis of the legal protection of the private equity (PE) investors in China. In an academic sense, this research mainly focuses on the agency problems in the life cycle of PE investment under the business organization law system in China. Briefly speaking, the agency problems of PE investment derive from the two-level separation of ownership and control, one of which is the principal-agent relationship between the PE investors and the fund manager, and the other is the principal-agent relationship between the PE shareholders and the management of investee companies. It is the first research to provide an in-depth examination on the investor protection in the PE investment under the business organization law system in China.

Course Notes is designed to help you succeed in your law examinations and assessments. Each guide supports revision of an undergraduate and conversion GDL/CPE law degree module by demonstrating good practice in creating and maintaining ideal notes. Course Notes will support you in actively and effectively learning the material by guiding you through the demands of compiling the information you need. Written by expert lecturers who understand your needs with examination requirements in mind Covers key cases, legislation and principles clearly and concisely so you can recall information confidently Contains easy to use diagrams, definition boxes and work points to help you understand difficult concepts Provides self test opportunities throughout for you to check your understanding Illustrates how to compile the ideal set of revision notes Covers the essential modules of study for undergraduate llb and conversion-to-law GDL/CPE courses.

The term private equity typically includes investments in venture capital or growth investment, as well as late stage, mezzanine, turnaround (distressed) and buyout investments. It typically refers to the asset class of equity securities in companies that are not publicly traded on a stock exchange. However, private equity funds do in fact make investments in publicly held companies. Chapters in this book cover such public investments. The Handbook provides a comprehensive picture of the issues surrounding the structure, governance, and performance of private equity. It comprises contributions from 41 authors based in 14 different countries. The book is organized into eight parts, the first of which introduces the issues, explains the organization of the handbook and briefly summarizes the contributions made by the authors in each of the chapters. Part II covers the topics pertaining to the structure of private equity funds. Part III deals with the performance and governance of leveraged buyouts. Part IV analyzes club deals in private equity, otherwise referred to as syndicated investments with multiple investors per investees. Part V provides analyses of the real effects of private equity. Part VI considers the financial effects of private equity. Part VII provides analyzes of listed private equity. Finally, Part VIII provides international perspectives on private equity.

In this volume charity commissioners and leading charity policy reformers from across the world reflect on the aims and objectives of charity regulation and what it has achieved. Regulating Charities represents an insider's review of the last quarter century of charity law policy and an insight for its future development. Charity Commissioners and nonprofit regulatory agency heads chart the nature of charity law reforms that they have implemented, with a 'warts and all' analysis. They are joined by influential sector reformers who assess the outcomes of their policy agitation. All reflect on the current state of charities in a fiscally restrained environment, often with conservative governments, and offer their views on productive regulatory paths available for the future. This topical collection brings together major charity regulation actors, and will be of great interest to anyone concerned with contemporary third sector policy-making, public administration and civil society.

This collection of essays interrogates significant issues at the forefront of scholarship and legal practice in the field of money remedies in equity. Chapters address the contentious and developing field of equitable compensation, including: the nature of equitable compensation; the relevant causation inquiry for equitable compensation; whether notions of contribution apply to multiple agents; accessorial liability; the role of discretion in limiting equitable compensation; which wrongs yield equitable compensation; and the extent to which compensation in equity differs from money remedies at common law. Other chapters examine the remedy of disgorgement of profit, and specifically the theoretical basis of that remedy, its application in the context of fiduciary obligations, and third-party issues. A number of chapters also examine the interrelationship between loss- and gain-based money relief. In addressing these issues the book includes both doctrinal and theoretical perspectives, and brings together leading equity scholars and judges from across the common law world.

This important collection of essays by a distinguished group of trust lawyers demonstrates that trusts law continues to be an area of great vitality and practical significance. Trusts is a subject that excites interest with its mixture of sophisticated thinking and practical commercial application. The papers in this volume not only have international appeal but also cover areas which are currently important to the legal profession. The essays range widely over subjects as varied as non-charitable purpose trusts (important for their use in tax havens in commercial and estate planning roles), the protector (a figure increasingly introduced to discretionary trusts in tax havens), pension trusts (important in the light of recent pension fraud), the duty of care owed by company directors to the company, liability and remedies for breach of trust, equities reaction to modern domestic relationships and taxation of the constructive trustee.