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Question 1

What type of property are shares in a company?

a) Chattels personal

b) Chattels real

c) Real Property

d) Choses in action

Question 2

Which of the following is no longer required to make a valid deed?

a) Signature

b) Witnesses

c) Delivery

d) A seal

Question 3

A chattel can be transferred:

a) By writing

b) By manual delivery

c) By using the official form

d) Orally

Question 4

For which type of property must the declaration of trust be made in writing?

a) Land

b) Goods

c) Shares

d) Choses in action

Question 5

Why was writing not required in Re Vandervell (No 2) [1974] Ch 269?

a) A resulting trust arises by operation of law

b) A declaration of trust of shares requires no writing

c) No separate writing is required when the equitable interest moves with the legal estate

d) It was a constructive trust

Question 6

In Milroy v Lord (1862) 4 D & G, F & J 264 why did the settlor fail to establish a trust?

a) Because the settlor had failed to transfer the shares to the trustees

b) Because the settlor had failed to tell the trustees that he held the shares on trust

c) Because the settlor had failed to declare himself a trustee of the shares

d) Because the trustee failed to transfer the shares

Question 7

Why were the court in Pennington v Waine [2002] 1 WLR 2075 willing to make an exception to the principles laid down in Milroy v Lord (1862) 4 D & G, F & J 264?

a) The settlor was attempting to make a gift, not establish a trust

b) The settlor at least sent the share transfer forms to the company

c) It would be unconscionable not to give effect to the wishes of the settlor

d) It was the clear intention of the settlor to make a gift

Question 8

An incompletely constituted trust is:

a) A trust where the property has not been properly transferred to the trustees

b) A trust where the declaration of trust has been improperly made

c) A trust where a party has not kept their promise to transfer property to the trust

d) A trust where the beneficiaries cannot enforce the trust

Question 9

Why cannot beneficiaries enforce covenants to transfer property to the trustees?

a) Because it would be inequitable to allow them to do so

b) The covenant refers to property that does not yet exist

c) The beneficiaries are not parties to the contract in the covenant

d) Beneficiaries cannot enforce a trust

Question 10

What is a marriage settlement?

a) A trust of the family home

b) Any trust that a married couple make

c) A trust that provides for the marrying couple and the family that they hope to have

d) An agreement between a married couple on how they hold their joint assets

Question 11

Which of the following cannot enforce the covenant in a marriage settlement?

a) The children of the marriage

b) The husband and wife

c) The trustees

d) The next of kin

Oxford University Press, Online Resource Centre, Chapter 08.

Chapter 08

Instructions