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Assignment Briefs 02-16-2023

AC1.1 Explain key historical events leading to the development of Equity

LAW501: Equity and Trusts

Module Name

LAW501: Equity and Trusts

Assignment Name

LAW501: Equity and Trusts Assignment

Level

Level 5 Diploma in Law

Credits

30

Plagiarism and Collusion

In submitting the assignment, Learners must complete a statement of authenticity confirming that the work submitted for all tasks is their own. The statement should also include the word count.

Plagiarism and collusion are treated very seriously. Plagiarism involves presenting another author`s work, excerpts, ideas, or passages without appropriate referencing and attribution.

Collusion occurs when two or more learners submit work that is so alike in ideas, content, wording, and/or structure that the similarity goes beyond what might have been mere coincidence.

Referencing

A professional approach to work is expected from all learners. Learners must therefore identify and acknowledge ALL sources/methodologies/applications used.

The learner must use an appropriate referencing system to achieve this. Marks are not awarded for the use of English; however, the learner must express ideas clearly and ensure that appropriate terminology is used to convey accuracy in meaning.

Please use the Harvard Style of Referencing throughout your work.

Appendices

You may include appendices to support your work. However, appendices must only contain additional supporting information and must be clearly referenced in your assignment.

You may also include tables, graphs, diagrams, Gantt charts, and flowcharts that support the main report and should be incorporated into the back of the submitted assignment report.

Any published secondary information such as annual reports and company literature should be referenced in the main text of the assignment, following Harvard Style Referencing, and referenced at the end of the assignment.

Confidentiality

When Learners choose to include organisational information that deals with sensitive material or issues, they must seek advice and permission from that organisation about its inclusion.

Where confidentiality is an issue, Learners are advised to anonymise their assignment report so that it cannot be attributed to that particular organisation.

Word Count Policy

Learners must comply with the required word count within a margin of +10%. These rules exclude the index, headings, tables, images, footnotes, appendices, and information within references and bibliographies.

When an assessment task requires learners to produce presentation slides with supporting notes, the word count only applies to the supporting notes.

Marking and Grades

The details of a standard marking rubric can be found at the end of this document. Unless stated elsewhere, learners must answer all questions in this document.

Submission of Assignments

Before submitting your work check you have:

✓ Completed the tasks or activities as required by the assignment

✓ Labelled or numbered each task or activity

✓ Understood and responded to the command verbs in the Assessment Criteria

✓ Produced the tasks or activities in the required format

✓ Presented your work clearly

✓ Referenced sources you have used and cited from

✓ Put cited material in quotation marks

✓ Checked for any spelling or grammatical errors

✓ Added a footer with page numbers

Assignment Question

Assignment - Total word count - 2,000 words

Task 1 - 500 Words

Write an essay on the flexible and continually developing nature of equity. Your essay should:

  • Explain key historical events leading to the development of Equity. (AC1.1)
  • Examine the relationship between law and equity. (AC1.2)
  • Explain the meaning of equitable maxims. (AC1.3)
  • Analyse the features of constructive trusts. (AC2.1)

Task 2 - 500 words

On finding out he was terminally ill in January 2019, James decided to distribute some of his wealth before his death.

  • James tells his brother, Martin, that he is giving him the shares that he holds in Neptune Limited to provide an income for him to set up his own business. Martin resigns from his job to set up the business.
  • On a visit to his nephew, Peter (aged 12), James hands over his grandfather’s medals saying that Peter should have them. On leaving James took the medals with him.
  • James wrote a letter to his niece Helen, saying that he was giving her his late wife’s jewellery. Helen never got in touch about collecting the jewellery.
  • James wrote to his sister, Gail, telling her he was transferring his holiday cottage in Scotland to her to hold in trust for James’ 16 year old daughter, Melanie, when she attained the age of 21. He enclosed an executed trust deed transferring the house to Gail.

James died in May 2019 having made a will in March 2019 with his niece, Helen as the executor. The will left his cottage in Scotland and his late wife’s jewellery to Alisha, his new partner. The will also  left £25,000 to the Bentown Bird Watching club which is an unincorporated, non-charitable association. The residue of his estate was left half to his son, Harry and half to his daughter Melanie in trust until she reaches the age of 18 with Harry as trustee. The Neptune limited share certificate and a signed transfer document in favour of Martin were found amongst James’ belongings on his death as were his medals.

You are required to:

a) Advise who is entitled to:

  • The Neptune Limited Shares
  • The Jewellery
  • The cottage in Scotland

b) Explain the three certainties and the difference between a trust and a gift in relation to the medals.

c) Explain the effects of the legacy to the Bentown Bird Watching Club

d) Explain whether there are any circumstances in which Melanie could receive monies from her trust before attaining the age of 18 and the impact this would have on the trust funds.

e) Analyse Harry’s duties and responsibilities as a trustee and the potential defences for breach of this duty.

In your answers you must:

  • Analyse the features of different types of trusts. (AC2.1)
  • Apply statutory rules and their case law interpretations in appropriate scenarios. (AC2.2)
  • Examine the need for a human beneficiary in private express trusts. (AC3.1)
  • Illustrate established exceptions to the beneficiary principle. (AC3.2) ∙

Describe   the   various   methods   by    which   gifts   to unincorporated associations may be effected. (AC3.3)

  • Explain when power of advancement and maintenance can be utilised by the trustees. (AC5.1)
  • Differentiate correctly between administrative duties and fiduciary duties. (AC5.2)
  • Evaluate trustees’ defences for breach of administrative duties. (AC5.3)

Task 3 - 500 words

Kasper  is  a  trustee  of  the  Lantry  Charitable  Trust.  In  February  2019, he draws

£10,000 of the trust’s money (in breach of the trust) and pays it into his own bank account in which he already has £10,000 of his own money. A month later, he  bought shares for £7,000 using  money from his account. A week later he withdrew

£7,000 and bought a car. The next month, he withdraws £5,000 which he gives to his son Ben to use as a deposit on an apartment he is buying. Explain key historical events leading to the development of Equity

Realising he is about to be declared bankrupt, Kasper transfers the shares to his daughter, Julia. They are now worth £8,000. On the day he is declared bankrupt,

Kasper writes off his car in an accident. You are required to:

  • Advise the beneficiaries of the Lantry Charitable Trust on their position.
  • Advise the son and daughter on the gifts made to them.

In your answers you must:

  • Analyse the impact of illegality on legal presumptions. (AC2.3)
  • Evaluate conditions for tracing in law and in equity. (AC4.1)
  • Appraise the application of the change of position defence. (AC4.2)

 

Task 4 - 500 words

Aziz works for Mobapps Limited, producing apps for mobile telephones. He is on a three-year contract to develop new apps, which requires him not to work for any other app or software development companies during his contract and six months after the end of his contract. One year into his contract, Aziz accepts a job with Comp Software co. who develop bespoke computer software for businesses. When Aziz leaves, Mobapps find that all the material relating to the app Aziz was developing has disappeared, and they fear that he will finish and sell the app himself.

You are required to advise Mobapps Limited on any equitable remedies it may have.

In your answer, you must:

  • Assess when a specific performance or injunction can be granted. (AC4.3)

Marking Rubric:

 

Distinguished

Excellent

Good

Proficient

Basic

Marginal

Unacceptable

Criteria

80+

70

60

50

40

30

0

Content

Extensive

Comprehensive

Adequate

Describes

Describes some of

Largely

Inadequate

(alignment with

evaluation and

critical

evaluation and

main ideas

the main ideas but

incomplete

information or

assessment

synthesis of

evaluation and

synthesis of key

with evidence

omits some

description of

containing

criteria)

ideas; includes

synthesis of

ideas beyond

of evaluation;

concepts; limited

main issues;

information not

 

substantial

ideas; includes

basic

includes

evidence of

misses key

relevant to the

 

original thinking

coherent

descriptions;

some original

evaluation;

concepts; no

topic

 

 

original

includes

thinking

confused original

original

 

 

 

thinking

original

 

thinking

thinking

 

 

 

 

thinking

 

 

 

 

Application of

In-depth,

Clear and

Appropriate

Adequate

Limited

Confused

Little or no

Theory and

detailed and

relevant

application of

application of

application of

application of

evidence of

Literature

relevant

application of

application of

theory; fully

theory;

integrates

theory; uses

literature to

theory; refers to

literature but may

theory; does

not use

application of

theory and

 

theory; expertly

integrates

literature to

support ideas

not use it

literature for

relevant

 

integrates

literature to

support ideas

and concepts

consistently

support

literature

 

literature to

support ideas

and concepts

 

 

 

 

 

support ideas

and concepts

 

 

 

 

 

 

and concept

 

 

 

 

 

 

Knowledge and

Extensive depth

Comprehensive

Sound

Basic

Limited and

Confused or

Little or no

Understanding

of understanding

knowledge and

understanding

Knowledge

superficial

inadequate

evidence of

 

and exploration

depth of

of

and

knowledge and

knowledge and

knowledge or

 

beyond key

understanding

principles and

understandin

understanding of

understanding

understanding of

 

principles and

key principles

concepts

g

key concepts and

of key

key concepts and

 

concepts

and concepts

 

of key

principles

concepts and

principles

 

 

 

 

concepts and

 

principles

 

 

 

 

 

principles

 

 

 

Presentation and

Logical, coherent

Logical,

Logical

Orderly

Somewhat weak

Confused

Illogical

Writing Skills

and polished

coherent

structure to

presentation;

presentation;

presentation;

presentation

 

presentation

presentation

presentation;

minor errors

errors in

errors in

lacking cohesion;

 

exceeding

demonstrating

makes few

in mechanics

mechanics and

mechanics and

contains

 

expectations at

mastery; free

errors in

and syntax

syntax may

syntax often

significant errors

 

this level; free

from errors in

mechanics and

 

interfere with

interfere with

that interfere

 

from errors in

mechanics and

syntax which

 

meaning

meaning

with meaning

 

mechanics and

syntax

do not prohibit

 

 

 

 

 

syntax

 

meaning

 

 

 

 

Referencing

Advanced use of

Mastery of

Appropriate

Adequate use

Limited use of in-

Inadequate use

Little or no

 

in- text citation

in-text citation

use of in-text

of in- text

text citation and

of citation and

evidence of

 

and references

and

citation and

citation and

referencing

referencing

appropriate

 

 

referencing

referencing

referencing

 

 

referencing or

 

 

 

 

 

 

 

use of sources

Directions:

 

Distinguished

Excellent

Good

Proficient

Basic

Marginal

Unacceptable

Range

80-100

70-79

60-69

50-59

40-49

35-39

0-34

 

 

Total the boxes and divide by 5 to arrive at the final mark. Explain key historical events leading to the development of Equity. Example:

Criteria

Score

Content

50

Application of Theory and Literature

40

Knowledge and Understanding

50

Presentation/Writing Skills

40

Referencing

40

Total Score

220/5 = 44, Pass

 

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