Trusts Law in Australia
By: Denis S. K. Ong
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.
AI Overview
"Trusts Law in Australia" by Denis S. K. Ong is a comprehensive and scholarly analysis of modern trusts law in Australia. Here is a detailed overview of the book:
Key Themes
- Historical Introduction: The book begins with a historical introduction to the development of trusts law, tracing its origins and evolution over time.
- Conceptual Foundations: It sets out the conceptual foundations of trusts before delving into key topics such as express trusts, charitable trusts, voluntary trusts, resulting trusts, constructive trusts, and the rules against perpetuities and accumulations.
- Legal Principles: Each chapter concludes with a summary of relevant legal principles, making the book unusually accessible to students, academics, and practitioners alike.
- Judicial Decisions: The book meticulously analyzes both the facts and reasoning of key judgments, identifying conceptual anomalies in the law and interpreting and critiquing relevant Australian and UK authorities.
Plot Summary
The book is structured into 12 chapters that cover all the essential topics in trusts law. These chapters include:
- Express Trusts: The requirements for establishing an intention to create an express trust, as seen in cases like Korda v Australian Executor Trustees (SA) Limited (2015).
- Charitable Trusts: The nature and implications of charitable trusts.
- Voluntary Trusts: The characteristics and legal implications of voluntary trusts.
- Resulting and Constructive Trusts: The application of resulting and constructive trusts in various scenarios.
- Writing and Related Requirements: The rules regarding the creation of trusts, including the need for writing in certain cases.
- Rules Against Perpetuities and Accumulations: The legal constraints on perpetuities and accumulations in trusts.
- Life Tenants and Remaindermen: The rights and obligations of life tenants and remaindermen.
- Tracing: The legal principles governing the tracing of assets in trusts.
- Duties, Liabilities, Powers, Rights, Appointments, Retirement, and Removal of Trustees: The roles and responsibilities of trustees, including their rights of indemnity and remuneration.
Critical Reception
The book has received positive reviews for its comprehensive and scholarly approach to trusts law. Here are some highlights:
- Accessibility: The book is praised for its logical structure and accessible summaries of legal principles, making it a valuable resource for both beginners and experienced practitioners.
- Significant Cases: The inclusion of significant judicial decisions, such as Korda v Australian Executor Trustees (SA) Limited (2015) and Australian Financial Services and Leasing Pty Limited v Hills Industries Limited (2014), adds depth and relevance to the analysis.
- Critical Analysis: Denis Ong's meticulous analysis of key judgments is commended for identifying conceptual anomalies in the law and providing insightful critiques of relevant authorities.
Overall, "Trusts Law in Australia" by Denis S. K. Ong is a seminal work in the field of trusts law, providing a thorough and accessible analysis that is essential for anyone seeking to understand the complexities of modern trusts law in Australia.