a thesis - Institute of Advanced Legal Studies

34 EXPRESS TRUSTS.
This does not create a trust in favour of B. Richards v. Dclbridge
(1874), L. E. 18 Eq. 11.
4. A., two years before his death, hands to his wife certificates
for some railway stock standing in his own name, saying, " These
are yours." This is not a declaration of trust by A., but an imperfect
gift. Moore v. Moore (1874), L. E. 18 Eq. 474.
5. A. signs a memorandum as follows:—" I wish to communicate
to my executors that I have to-day given to B. my 1,000/.
debenture bond of the M. S. & L. Ey. Co.; but as I shall require
the annual dividends to meet my necessary expenses, I retain the
document in my own possession for my lifetime, requesting you
on my decease to hand it over to B. and communicate to the
secretary of the said railway company at the Manchester office
relative to the transfer of the said bond being entered in their
books." This is not a declaration of trust, but an invalid gift, the
reference being to 1,000/. debenture stock, transferable only in the
books of the company. Pethybridge v. Burrow (1885), 53 L. T. 5.
Not only must there be a clear indication of the settlor's intention
to create a trust, but he must also indicate with reasonable
certainty the trust property and the beneficiary. (Knight v.
Knight (1840), 3 Beav. 172 ; Briggs v. Penney (1851), 3 Mac. & GK
554.)
Nearly all the cases in which the question of the certainty of
the trust property or of the beneficiaries has been raised are cases
in which it has been sought to found the trust on precatory words.
Under the modern view of such words, no trust would have been
created in any of them, even if the trust property and beneficiary
had been certain, so that they are not very satisfactory authorities.
However, it is plain that in some such cases, at any rate, even if
the precatory words had been the plainest words of trust, the trust
would have failed for want of certainty of subject-matter or of
object. (Mmsoorie Bank v. Raynor (1882), 7 App. Gas. at p. 331.)
Of these the following are examples :—
Illustrations.
1. A. devises real estate to B. and her heirs for ever, in fullest
confidence that after her decease she will devise " the property " to