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86 EXPRESS TRUSTS. 1856; and then, owing to the vast amount of litigation to which the will gave rise, the fortune to which the beneficiaries succeeded was of only moderate dimensions, so that the danger in that particular case did not arise. But in the meantime, even before the will was ultimately pronounced valid by the House of Lords, the Accumulations Act, 1800, was passed in order to prohibit the creation of such a trust for the future. The Accumulations Act, 1800, s. 1, provides that no person .... shall .... settle or dispose of any real or personal property, so .... that the rents, issues, profits or produce thereof shall be wholly or partially accumulated for any longer term than— (a) The life of any such grantor or settlor; or (b) The term of twenty-one years from the death of such grantor, settlor, or testator ; or (c) During the minority or respective minorities of any person or persons who shall be living or en rent re sa mere at the time of the death of such grantor, settlor, or testator; or (d) During the minority or respective minorities only of any person or persons who under the .... trusts .... directing such accumulations would for the time being, if of full age, be entitled to the rents .... or annual produce so directed to be accumulated. And where any accumulation is directed otherwise, the direction shall be null and void. .... By s. 2, however, an exception is made in favour of provisions— (1) for payment of debts, (2) for raising portions, or (3) touching the produce of timber, all of which may be made as if the Act had not been passed. The Act has been amended by the Accumulations Act, 1892, which prohibits accumulations for the purchase of land only for any longer period than during the minority or respective minorities of any person or persons who under the trusts directing such accumulation would for the time being, if of full age, be entitled to receive the income so directed to be accumulated. If a trust offends the rule against perpetuities it is void altogether; if it exceeds the limits of the Accumulation Acts it is good pro tanto. (Griffiths v. Vere (1863), 9 Yes. 127.)
INVALIDATING CAUSES. 87 Immoral Trusts.—A trust against public morality is likewise unenforceable. It is for this reason that a trust for illegitimate children thereafter to be born has been said to be void; though a trust for illegitimate children in esse or en venire sa mere at the date of the instrument creating the trust is valid, and it may be that the trust is valid in favour of all illegitimate children born before the instrument comes into operation. This was the decision of the majority of the Court of Appeal in Occleston v. Fullalove (1874, L. E. 9 Ch. App. 147), though Lord Selborne dissented. In discussing the rule that future illegitimate children cannot take under a trust, Lord Justice James in that case (p. 160) says: " If the expression ' future children' be limited to what I conceive to be its more accurate meaning—children to come into existence after the will itself has really come into existence as the last will of the testator, viz., after his death—then I would at once, for reasons subsequently given, concede that there is or may be such a rule of law as that referred to. But if it be extended to apply to children coming into existence between the date or execution of the will and the death of the testator, then, in my humble judgment, the proposition is not one to be assumed as it appears to have been." .... Lord Justice Mellish, in the same case, draws a distinction between a trust for future illegitimate children in a deed and one in a will on the ground that the former operates from the date of its execution, the latter from the death of the testator. He granted that in the former case the gift is void as tending to immorality (p. 171), but held that in the latter it is good as regards children born or en ventre sa mere before the testator's death, although after the date of the will. It seems clear that a trust cannot be effectively made in favour of illegitimate children to be born after the date when the will comes into operation, namely, the death of the testator. Trusts against Public Policy.—Finally, any trust the purpose of which is contrary to public policy is void. The leading case 011 this subject is Egerton v. Earl Broicnloiv (1853, 4 II. L. C. 1). The case arose upon the will of the seventh Earl of Bridgewater, who devised very large real estates to trustees to make a settlement according to the limitations stated in the will. One of these was to Lord Alford for the term of ninety-nine years, if he should so long live ; remainder to trustees to preserve contingent remainders ; remainder to the use of the heirs male of his body, with remainder
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UNIVERSITY OF LONDON INSTITUTE OF A
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A THESIS UPON THE DEFINITION, CLASS
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TABLE OF CONTENTS. PAOK INTRODUCTOR
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INTRODUCTORY. THE term "trust" has
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Part L—TBUSTS IN GENEBAL. CHAPTEE
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DEFINITION OF A TRUST. 3 active or
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DEFINITION OF A TEUST. 5 owner. Thi
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DEFINITION OF A TEUST. 7 Mr. Justic
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DEFINITION OF A TRUST. 9 courts the
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DEFINITION OF A TRUST. 11 since the
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CLASSIFICATION OF TRUSTS. 13 constr
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CAPACITY OF PARTIES. 15 CHAPTEE III
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CAPACITY OF PARTIES. 17 The sanctio
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CAPACITY OF PARTIES. 19 party to it
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CAPACITY OF PARTIES. 21 Lunacy also
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THE TRUST PROPERTY. 23 CHAPTER IV.
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THE TRUST PROPERTY. 25 expectancy o
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CREATION OF EXPRESS TRUSTS OF LAND.
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CREATION OF OTHER EXPRESS TRUSTS. 2
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Page 47 and 48: CREATION OF OTHER EXPRESS TRUSTS. 3
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 83 and 84: CONSTRUCTION OF EXPEESS TRUSTS. 71
Page 87 and 88: INVALIDATING CAUSES. 75 CHAPTER XI.
Page 89 and 90: INVALIDATING CAUSES. 77 Guardian an
Page 91 and 92: INVALIDATING CAUSES. 79 upon good (
Page 93 and 94: INVALIDATING CAUSES. 81 ment is not
Page 95 and 96: INVALIDATING CAUSES. 83 UNLAWFUL PU
Page 97: INVALIDATING CAUSES. 85 7. Testator
Page 101 and 102: RESULTING TRUSTS. 89 Part IIL—IMP
Page 103 and 104: RESULTING TRUSTS. 91 to give the tr
Page 105 and 106: RESULTING TRUSTS. 93 satisfied with
Page 107 and 108: RESULTING TRUSTS. 95 tion of A.'s e
Page 109 and 110: RESULTING TRUSTS. 97 or successive,
Page 111 and 112: RESULTING TRUSTS. 99 4. Copyhold la
Page 113 and 114: RESULTING TRUSTS. 101 Lastly, if A.
Page 115 and 116: RESULTING TRUSTS. 103 It does not s
Page 117 and 118: RESULTING TRUSTS. 105 CHAPTER XV.
Page 119 and 120: CONSTRUCTIVE TRUSTS. 107 B.—Const
Page 121 and 122: CONSTRUCTIVE TRUSTS. 109 quences of
Page 123 and 124: CONSTRUCTIVE TRUSTS. Ill (1857), 8
Page 125 and 126: CONSTRUCTIVE TRUSTS. 113 40 Ch. D.
Page 127 and 128: CONSTRUCTIVE TRUSTS. 115 4. A. and
Page 129 and 130: CONSTRUCTIVE TRUSTS. 117 The follow
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