Equity and Trusts Essay Example | Topics and Well Written Essays - 1500 words

Equity and Trusts - Essay Example In fact, trust has been a rather conspicuous beneficiary of equity since the former is an invention of the latter2. Generally, trust laws are applied in situations in which an individual places trust and confidence in another or others to handle or manage his/her affairs. While the law of equity governs the individuals entering such relationships, the law of trust offers the mechanisms for dealing with the different situations and circumstances of such relationships including pension funds, family relationships and charities among others. Although most cases such as estoppels and secret trusts allow the courts to easily deal with the formalities of property laws, there are certain unique and technical situations and terms with which one needs to be conversant to understand trust law3. Trust law, whose applicability may start before or after a trust commences has the objective of clarifying the activities and purposes for which trusts are created. The validity of trusts may be depende nt on the nature of its creation, whether an oral declaration or an instrument created in writing such as a will or a codicil. Additionally, a trust may be created by a mere conduct, without involving any technical expressions or activities. However, unit trusts, real property trusts and non-charitable purpose trusts