Publisher's Synopsis
Trusts Law in Australia, now in its fourth edition, provides a comprehensive and scholarly analysis of modern trusts law.
The structure is unchanged from previous editions and the 12 chapters cover all the topics expected of a book on the law of trusts - express trusts, charitable trusts, voluntary trusts, resulting trusts, constructive trusts, writing and related requirements, the rules against perpetuities and accumulations, life tenants, remaindermen, tracing, and the duties, liabilities, powers, rights, appointments, retirement and removal of trustees.
Professor Denis Ong's invaluable and important analysis addresses conceptual anomalies in the law, and interprets and critiques a large number of judicial decisions. Each chapter finishes with a summary of relevant legal principles, making the book unusually accessible.
Since the publication of the third edition in 2007, a number of significant cases have been decided in the area of trusts:
- In relation to apparently explicit declarations of trust , Byrnes v Kendle (2011) 243 CLR 253 has changed the law laid down in the earlier High Court decision of Commissioner of Stamp Duties (Qld) v Jolliffe (1920) 28 CLR 178.
- The decision in Jolliffe had been unchallenged in more than 90 years.
- In the area of the fiduciary's accountability for bribes taken in breach of fiduciary duty, two recent decisions are included: Sinclair Investments (UK) Ltd v Versailles Trade Finance Ltd (in administrative receivership) [2011] 3 WLR 1153 and the contrary opinion of the Full Court of the Federal Court of Australia in Grimaldi v Chameleon Mining NL (No 2) [2012] FCAFC 6.
- In the area of charitable trusts discussion of Aid/Watch Incorporated v Federal Commissioner of Taxation (2010) 241 CLR 539 is included.
The impact of the Personal Property Security Act 2009 (Cth) on Romalpa clauses is also discussed.
