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Question 1

What is the meaning of the word 'equity'?

a) The ability to make exceptions to the legal rule

b) A body of law developed by the Court of Chancery

c) Fairness

d) A share in a company

Question 2

How did the Lord Chancellor become a judge?

a) He dealt with petitions to the king

b) He administered the court system

c) He issued writs

d) He was in charge of medieval government

Question 3

What is the importance of the Earl of Oxford's Case (1615) 1 Ch Rep. 1?

a) It established that fraud would no longer be tolerated in the common law courts

b) It developed the use of injunctions

c) It showed the power of the king

d) It established that equity prevailed over the common law

Question 4

What is the importance of Lord Eldon?

a) He was Lord Chancellor for a long time

b) He established the system of law known as equity

c) He established a system of precedent in equity

d) He stopped equity looking for justice and fairness

Question 5

The Judicature Acts 1873-1875 were of major importance for equity. Which of the following did the Judicature Acts not do?

a) Fuse the systems of common law and equity

b) Give statutory effect to the rule that equity prevails over the common law

c) Establish one court system for both common law and equity

d) Allow any court to deal with both common law and equity

Question 6

How did a use work?

a) The duties of the feoffees to uses were enforced by the common law courts

b) The rights of the cestuis que use were enforced by the Court of Chancery

c) The Statute of Uses 1535 executed the use

d) The legal rights of the feoffees to uses were ignored

Question 7

Comparing a trust with a contract brings out some of the basic characteristics of trusts. Which of the following is not a characteristic of a trust?

a) The beneficiaries give no consideration

b) The beneficiaries have proprietary rights

c) The beneficiaries may sell their equitable interests

d) The beneficiaries may enforce the trusts against the settlor

Question 8

What is the difference between a trust and agency?

a) Trustees have a fiduciary duty, agents do not

b) Trustees hold trust property, agents do not

c) Trustees must not make unauthorised profits, agents may

d) Trustees may not delegate their duties; agents may

Question 9

It has been said, by Lord Denning, among others that 'Equity is not past the age of child bearing'. What does this mean?

a) Equity has a jurisdiction to protect women with children

b) Judge made law must be based on existing precedent and principle

c) Equity may recognize new rights

d) Equity must achieve justice in each case

Question 10

Which of the following is not possible?

a) A beneficiary can also be a trustee

b) A beneficiary can also be the settlor

c) A beneficiary can also be the testator

d) A trustee can also be the settlor

Oxford University Press, Online Resource Centre, Chapter 01.

Chapter 01

Instructions