It is important to decide whether a particular gift is a discretionary trust or a gift subject to a condition precedent, as shown by [ case ]. Here the testatrix died owning a large collection of valuable pictures. Some of these were given to her executor to hold on trust for sale subject to a direction that ‘all or any member of my family and any friends of mine who wish to do so [may] purchase any of such pictures’ at the lower of probate value or 1970 catalogue price. This was held to be a gift subject to a condition precedent, not a discretionary trust.
Answer
Re Barlow’s WT [1979] 1 All ER 296
Tags
#certainties #equity #law
Question
It is important to decide whether a particular gift is a discretionary trust or a gift subject to a condition precedent, as shown by [ case ]. Here the testatrix died owning a large collection of valuable pictures. Some of these were given to her executor to hold on trust for sale subject to a direction that ‘all or any member of my family and any friends of mine who wish to do so [may] purchase any of such pictures’ at the lower of probate value or 1970 catalogue price. This was held to be a gift subject to a condition precedent, not a discretionary trust.
Answer
?
Tags
#certainties #equity #law
Question
It is important to decide whether a particular gift is a discretionary trust or a gift subject to a condition precedent, as shown by [ case ]. Here the testatrix died owning a large collection of valuable pictures. Some of these were given to her executor to hold on trust for sale subject to a direction that ‘all or any member of my family and any friends of mine who wish to do so [may] purchase any of such pictures’ at the lower of probate value or 1970 catalogue price. This was held to be a gift subject to a condition precedent, not a discretionary trust.
Answer
Re Barlow’s WT [1979] 1 All ER 296
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Open it It is important to decide whether a particular gift is a discretionary trust or a gift subject to a condition precedent, as shown by Re Barlow’s WT [1979] 1 All ER 296 . Here the testatrix died owning a large collection of valuable pictures. Some of these were given to her executor to hold on trust for sale subject to a direction that ‘all or any mem
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