|Semester 2, 2012 On-campus Toowoomba|
|Faculty or Section :||Faculty of Business and Law|
|School or Department :||School of Law|
|Version produced :||30 December 2013|
Examiner: Mark Byrne
Moderator: Liam Scott
Pre-requisite: LAW2202 and LAW3205
Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.
The use of trusts as a business form continues to be popular while at the same time trusts provide a sources of rights and responsibilities in many contexts. The purpose of this course is to introduce students to the nature of trusts and the various forms they may take. This will build on the basic principles of equity and fiduciary relationships covered in the Equity course. The focus will be on trusts which may be expressly created for commercial or personal use; and trusts created by operation of law or for remedial purposes. The course will be practical in the sense that it will require students to be able to identify the duties and obligations of all parties within the trusts relationship and consider all potential legal risks and liabilities. In particular consideration will be given to the manner in which trustees and trusts may deal with other parties.
On successful completion of this course students should be able to:
- describe the features and elements of all forms of trust
- identify the different types of trusts and how they may be created whether expressly or by operation of law
- recognise the roles, duties and fiduciary obligations of all parties to a trust relationship and liabilities obligations to third parties
- apply all relevant equitable principles to trust relationships in commercial and personal problems with a view to providing practical advice
- apply drafting skills to the creation of trusts
- locate and analyse primary law materials and secondary materials (as relevant)
- apply such legal principles to given fact situations in order to determine the likely outcome to issues raised
- demonstrate satisfactory communication skills.
|1.||The fundamental features and elements of trusts||20.00|
|2.||Express trusts: the creation of trusts for particular commercial or other purposes||20.00|
|3.||Trusts that arise by operation of law including implied, resulting and constructive trusts||20.00|
|4.||The fiduciary obligations and duties of trustees||15.00|
|5.||The rights of beneficiaries and potential remedies||15.00|
|6.||The relationship between trusts and external parties||10.00|
Text and materials required to be purchased or accessed
ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://bookshop.usq.edu.au/bookweb/subject.cgi?year=2012&sem=02&subject1=LAW3206)
Please contact us for alternative purchase options from USQ Bookshop. (https://bookshop.usq.edu.au/contact/)
Evans, M 2012, Equity and trusts, 3rd edn, LexisNexis Butterworths, Chatswood, New South Wales.
LEGISLATION: Trusts Act must be obtained.
Legal Online (electronic database): Principles of the Law of Trusts accessible via USQ Library Database Services at http://resguide.usq.edu.au/index.php?type=databases&route=direct&ID=235.
Student workload requirements
|Lectures and Tutorials||39.00|
|Description||Marks out of||Wtg (%)||Due Date||Notes|
|FORMATIVE ASSIGNMENT||0||0||10 Aug 2012||(see note 1)|
|ASSIGNMENT 1||40||40||23 Aug 2012||(see note 2)|
|ASSIGNMENT 2||60||60||25 Oct 2012||(see note 3)|
- self-assessment questions
- problem-solving questions
- drafting exercise and advice
Important assessment information
It is the students' responsibility to attend and participate appropriately in all activities (such as lectures, tutorials, laboratories and practical work) scheduled for them, and to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.
Requirements for students to complete each assessment item satisfactorily:
To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)
Penalties for late submission of required work:
If students submit assignments after the due date without prior approval of the examiner, then a penalty of 5% of the total marks gained by the student for the assignment may apply for each working day late up to ten working days at which time a mark of zero may be recorded.
Requirements for student to be awarded a passing grade in the course:
To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.
Method used to combine assessment results to attain final grade:
The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course.
There will be no examination in this course.
Examination period when Deferred/Supplementary examinations will be held:
University Student Policies:
Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at http://policy.usq.edu.au.
Assignments: (i) The due date for an assignment is the date by which a student must despatch the assignment to the USQ. The onus is on the student to provide proof of the despatch date, if requested by the examiner. (ii) Students must retain a copy of each assignment submitted for assessment. This must be produced within 24 hours if required by the examiner. (iii) In accordance with university policy, the examiner may grant an extension of the due date of an assignment in extenuating circumstances. (iv) Assignments are to be submitted in the appropriate assignment folders. (v) The examiner will normally only accept assessments that have been written, typed or printed on paper-based media. (vi) The examiner will not accept submission of assignments by facsimile. (vii) In the event that a due date for an assignment falls on a local public holiday in their area, such as a show holiday, the due date for the assignment will be the next day. Students are to note on the assignment cover the date of the public holiday for the examiner's convenience.
Course weightings: Course weightings of topics should not be interpreted as applying to the number of marks allocated to questions testing those topics in an examination paper. The examination may test material already tested in assignments.
Referencing in assignments: Students studying this course as part of a Bachelor of Laws or Juris Doctor must use the Australian Guide to Legal Citation (AGLC) style. Students who are not enrolled in either of these programs may use either Harvard (AGPS) or the Australian Guide to Legal Citation (AGLC) in their assignments to format details of the information sources they have cited in their work. For AGLC style guide enquiries, consult the AGLC manual from the USQ Library's referencing guide at http://www.usq.edu.au/library/referencing, or contact the Law librarian. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at http://www.usq.edu.au/library/referencing.
Dishonest actions: (i) Any student who is alleged to have performed a dishonest action relating to any assessment in the course will have a course of action taken against him/her as outlined in the academic regulations. (ii) Pieces of assessment should be the work of individual students. Joint pieces of assessment are not permitted unless written approval has been obtained from the examiner. (iii) Dishonest action in relation to assessment includes: copying or attempting to copy the work of others; use of or attempting to use information prohibited from use in that form of assessment; submitting the work of another as your own; consciously committing acts of plagiarism, that is, taking and using another's thoughts or writings as one's own with intent to deceive, which occurs when paragraphs, sentences, a single sentence or significant parts of a sentence which are copied directly, are not enclosed in quotation marks and appropriately footnoted or referenced in the text; direct quotations are not used, but text is paraphrased or summarised, and the source of the material is not acknowledged by footnoting or other reference in the text.
Deferred work: Students who, for medical, family/personal, or employment-related reasons, are unable to complete an assignment or to sit for an examination at the scheduled time may apply to defer an assessment in a course. Such a request must be accompanied by appropriate supporting documentation. One of the following temporary grades may be awarded: IDS (Incomplete - Deferred Examination); IDM (Incomplete Deferred Make-up); IDB (Incomplete - Both Deferred Examination and Deferred Make-up).
Computer, e-mail and Internet access: Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.