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18 TRUSTS IN GENERAL. the trustees should stand possessed of the property on the trusts specified ; in each case the result was the same—the husband was bound by the settlement. Of course, if the property in respect of which this question arises is given to the wife for her separate use, these decisions do not apply. The wife does not claim under the Married Women's Property Act then, and if she repudiates the settlement her husband does not become entitled to the property settled. The trustees of the repudiated settlement cannot, therefore, claim on the ground that the property belongs to the husband, and that he is bound by the settlement. Lunatics.—A. disposition of property, whether by instrument inter vivos or by will, by a person usually of unsound mind is valid if made during a lucid interval. (Hall v. Warren (1805), 9 Yes. 605.) A disposition for valuable consideration made by a person while of unsound mind is valid, unless it can be shown that the person in whose favour it was made was aware of the insanity, in which case it is voidable. This applies to sales (Motion v. Camroux (1848), 2 Exch. 487 ; 4 Exch. 17 ; Elliot v. Lice, infra], to mortgages (Campbell v. Hooper (1855), 3 Sm. & Gr. 153), to contracts (Imperial Loan Co. v. Stone, (1892) 1 Q. B. 599), and presumably also to dispositions by way of trust. But if a disposition of property by a person of unsound mind is gratuitous, it is not merely voidable but void. (Elliot v. Ince (1857), 7 De GK M. & GK 475; Manning v. Gill (1872), L. B, 13 Eq. 485.) It would follow from this that a voluntary trust, whether created by deed or will, by a person of unsound mind at the time, is wholly void whether the beneficiaries or trustees were cognizant of the insanity or not. What amount of insanity is sufficient and required to invalidate the disposition is a difficult question. It was discussed in the case of Banks v. Goodfcllow (1870, L. E. 5 Q. B. 549) with reference to a will, and it was held that the mere existence of delusions in the testator's mind are not sufficient if they have not affected the dispositions made by the will. There seems to be no reason why there should be any different rule for an instrument inter vivos. Where such a disposition is impeached on the ground of insanity, if the lunatic has since been found by inquisition to have been insane at the date when the disposition was made, the burden of proof that it was made during a lucid interval is thrown on the party claiming under it. If he is not bound by the inquisition because not a
CAPACITY OF PARTIES. 19 party to it, and can satisfy another jury that the disposition he is supporting was made during a lucid interval, he will be entitled; otherwise he will not. (Hall v. Warren, supra; Snook v. Watts (1848), 11 Beav. 105.) It has recently been decided, however, that if a lunatic has been so found any disposition of property by deed made after the inquisition is absolutely void, even though made during a lucid interval, since it conflicts with the rights of the crown. (In re Walker (1905), 74 L. J. Ch. 86.) Married Women.—By the Married Women's Property Act, 1882, s. 1 (1), "A married woman shall, in accordance with the provisions of this act, be capable of acquiring, holding, and disposing, by will or otherwise, of any real or personal property as her separate property, in the same manner as if she were a feme sole, without the intervention of any trustee." S. 2. " Every woman who marries after the commencement of this act shall be entitled to have and to hold as her separate property, and to dispose of in manner aforesaid, all real and personal property which shall belong to her at the time of marriage, or shall be acquired by or devolve upon her after marriage." .... S. 5. " Every married woman married before the commencement of this act shall be entitled to have and to hold and to dispose of in manner aforesaid as her separate property all real and personal property her title to which, whether vested or contingent, and whether in possession, reversion, or remainder, shall accrue after the commencement of this act." .... These provisions place a married woman in the same position with reference to the creation of a trust of property as a man or an unmarried woman, subject to the provision of s. 19 that nothing in the act contained shall interfere with or affect a settlement and the construction which the courts have put upon it above referred to. Convicts.—By the Forfeiture Act, 1870, s. 8, every convict, during the time while he is subject to the operation of the act (as to which see s. 7), is incapable of alienating or charging any property, or of making any contract save as therein provided. This would prevent the creation of a trust by an instrument operating inter vivos. But the incapacity imposed by the act ceases at death, and there appears to be nothing to prevent a convict disposing of his property by will. Corporations.—A common laic corporation has generally the same capacity of alienation as an individual. By the Municipal Corporac2
Page 2: UNIVERSITY OF LONDON INSTITUTE OF A
Page 7 and 8: A THESIS UPON THE DEFINITION, CLASS
Page 9 and 10: TABLE OF CONTENTS. PAOK INTRODUCTOR
Page 11 and 12: INTRODUCTORY. THE term "trust" has
Page 13 and 14: Part L—TBUSTS IN GENEBAL. CHAPTEE
Page 15 and 16: DEFINITION OF A TRUST. 3 active or
Page 17 and 18: DEFINITION OF A TEUST. 5 owner. Thi
Page 19 and 20: DEFINITION OF A TEUST. 7 Mr. Justic
Page 21 and 22: DEFINITION OF A TRUST. 9 courts the
Page 23 and 24: DEFINITION OF A TRUST. 11 since the
Page 25 and 26: CLASSIFICATION OF TRUSTS. 13 constr
Page 27 and 28: CAPACITY OF PARTIES. 15 CHAPTEE III
Page 29: CAPACITY OF PARTIES. 17 The sanctio
Page 33 and 34: CAPACITY OF PARTIES. 21 Lunacy also
Page 35 and 36: THE TRUST PROPERTY. 23 CHAPTER IV.
Page 37 and 38: THE TRUST PROPERTY. 25 expectancy o
Page 39 and 40: CREATION OF EXPRESS TRUSTS OF LAND.
Page 41 and 42: CREATION OF OTHER EXPRESS TRUSTS. 2
Page 49 and 50: RULES DETERMINING INTENTION TO CREA
Page 65 and 66: ENFORCEABILITY OF EXPRESS TRUSTS. 5
Page 67 and 68: ENFOECEABILITY OF EXPRESS TRUSTS. 5
Page 73 and 74: DISCLAIMER OF EXPRESS TRUST, 61 CHA
Page 75 and 76: DISCLAIMER OF EXPRESS TRUST. 63 hav
Page 77 and 78: CONSTRUCTION OF EXPRESS TRUSTS. 65
Page 79 and 80: CONSTRUCTION OF EXPRESS TRUSTS. 67
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CONSTRUCTION OF EXPRESS TRUSTS. 69
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CONSTRUCTION OF EXPEESS TRUSTS. 71
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CONSTRUCTION OF EXPRESS TRUSTS. 73
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INVALIDATING CAUSES. 75 CHAPTER XI.
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INVALIDATING CAUSES. 77 Guardian an
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INVALIDATING CAUSES. 79 upon good (
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INVALIDATING CAUSES. 81 ment is not
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INVALIDATING CAUSES. 83 UNLAWFUL PU
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INVALIDATING CAUSES. 85 7. Testator
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INVALIDATING CAUSES. 87 Immoral Tru
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RESULTING TRUSTS. 89 Part IIL—IMP
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RESULTING TRUSTS. 91 to give the tr
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RESULTING TRUSTS. 93 satisfied with
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RESULTING TRUSTS. 95 tion of A.'s e
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RESULTING TRUSTS. 97 or successive,
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RESULTING TRUSTS. 99 4. Copyhold la
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RESULTING TRUSTS. 101 Lastly, if A.
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RESULTING TRUSTS. 103 It does not s
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RESULTING TRUSTS. 105 CHAPTER XV.
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CONSTRUCTIVE TRUSTS. 107 B.—Const
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CONSTRUCTIVE TRUSTS. 109 quences of
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CONSTRUCTIVE TRUSTS. Ill (1857), 8
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CONSTRUCTIVE TRUSTS. 113 40 Ch. D.
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CONSTRUCTIVE TRUSTS. 115 4. A. and
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CONSTRUCTIVE TRUSTS. 117 The follow
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