Preface

Of all the subjects studied by law students equity and trusts can seem the most opaque and impenetrable. They are intimidated by the ‘fog of Chancery’ described by Dickens in his introduction to Bleak House. I have tried to lift some of this fog by explaining the principles of trusts in simple terms and then relating those principles to practical situations which affect all our lives. I have used detailed scenarios throughout the text to illustrate the key principles. I wanted to change the popular perception that the study of trusts is remote and detached from everyday life. Trusts no longer simply affect a limited section of the public but often govern the most important assets that people own, such as the family home and rights under a pension scheme. At the heart of trusts lies the relationship between the trustee and beneficiary and the strict duties imposed upon the trustee which can be traced back to the early forms of trust. Such duties are just as relevant today in cases involving commercial relationships as in the more traditional express trust. I hope that this practical approach will bring alive the subject and its many different aspects. I know that once the main principles of equity and trusts are grasped and their practical effect is fully understood this becomes a fascinating and intriguing subject.

I would like to thank Sinead Moloney at Cambridge University Press for her encouragement and support for the idea and writing of this book, also Deepa Somasunderam for her valuable contributions in reading the text and suggestions from a student’s perspective on the subject and most of all I would like to thank my husband Richard without whose support, good humour and invaluable advice this book would never have been completed.