Equity and Trust

Equity and Trust

Franz, who is married to Felice, travels a lot for his work. On one work trip to Devon, he had a brief affair with Dora. Eighteen years and nine months later Dora contacted Franz to tell him that he has a son, called Joseph. She told Franz that she had no need of his support up to this time, but Joseph has now reached 18 and wants to go to college. The dates add up, so Franz concluded that Joseph was probably his son. Franz transferred £20,000 into Joseph's bank account to pay for the college fees. Franz also bought £3,000 worth of shares and instructed his stockbrokers to register them in Joseph's name. Franz is now beginning to dislike Joseph and Dora, and is also growing suspicious about whether Joseph is really his son. Advise Franz whether he can assert rights in the money and shares on the assumption that (a) Joseph is his son, and (b) is not his son. How would your answer differ if s.199 of the Equality Act 2010 had been in force before Franz made the transfers?

Defining the Law of Equity and Trust

To begin understanding the whereabouts of how these laws came into existence, we must first pave way for the purpose of how the concept and ideas of these laws derived and originated. Equity roughly took pace and made its presence in the Middle Ages, during the time of kings, queens and lords for the purpose of leveraging strict rules and regulations which were otherwise imposed and coined by the then Courts in practice, generally referred to as the court of the Common Law. The origins of the jurisdiction have, however, prevailed and the principles of equity can now be applied in every civil court in the land.

One broad extension that has taken place in the area tends to pave way has been the establishment of the Trust; trust laws have been amongst the most effective tools which are being implemented upon the scene of Court. Trust law imply the phenomenon, as the title suggests, that a person put an intangible investment of trust into another person or entity and assigning them different tasks for the purpose of managing their affairs, such as business, partnerships, relationship development, or any other activity, which could act as a signatory or a representative in any legal relationship or setting developed otherwise.

The elements of Trust and Secret arise when merging together a number of factors: the human being, his attitudes, emotional reactions and personal experiences. Any positive results of actions are credible to them, and with repetition reinforce positive confidence. Trust as a psychological state of the individual may occur at the confluence of several factors together: the interests of the person, his attitudes, emotional reactions, previous personal experience or experience of previous generations, adaptive abilities, level of intellectual development, etc. Trust arises when a person is confident in the accuracy and adequacy of processes and phenomena in their value orientations, which are ...