This paper explores different understandings of the interaction of private international law with the law of trusts, and particularly, the question whether a settlor should have complete freedom to choose the law governing her trust. If such freedom is granted, the settlor may not care whether...

In 1944, the House of Lords held that outside of the field of charitable bequests, a testator cannot delegate the power to select who will benefit from his estate. This holding has never been called into question by English appellate courts, and has been followed in many Commonwealth...

Trust drafting practices have changed dramatically in recent decades. A range of considerations has led to an increase in the dispositive discretions held by trustees. In some cases, the trustees' dispositive discretions effectively govern the whole trust structure, leading to what the author...

Canadian law sometimes allows gain-based remedies for certain wrongful acts. There is a strong suggestion that gain-based remedies are available in the common law provinces for torts and perhaps breaches of contract, but the courts have been hesitant. Common law provinces have also been willing...

It has become an orthodoxy in some quarters that fiduciary duties are only proscriptive, forbidding certain actions, and never prescriptive, requiring positive action. I argue that this is a misunderstanding. The argument begins by attempting to explain how this orthodoxy arose, and then by...

The fiduciary's duty of loyalty has been subjected to a great deal of analysis. That analysis usually focuses on the distinctive proscriptive rules, which forbid the fiduciary from being in a conflict of interest and related situations. This paper argues that in order to understand what is truly...

This paper appears in a book of seminar papers relating to the re-analysis of the "Quistclose trust" by the House of Lords in Twinsectra Limited v Yardley [2002] UKHL 12. That re-analysis includes that in a Quistclose trust, the trustee has a power to use the trust funds for some designated...

In this paper, I ask what are the philosophical foundations of Equity as it was defined by Frederic Maitland: the body of rules and principles that were developed over the centuries by the Court of Chancery. My answer is that there is no single purpose, approach, philosophy or norm that...

The Quebec trust, which forms part of a civilian conception of the way that rights are held in private law, has a very different conceptual structure from the common law trust. This article examines whether the Quebec law of trusts can permit specific claims to the traceable proceeds of trust...

This book examines the law governing asset management in a wide range of commercial contexts across 15 jurisdictions of the European Union. The study includes the basic features of the available legal institutions (for example, whether they provide bankruptcy protection or allow free choice of...