| Effective Term: | 2024/05 |
| Institute / School : | Institute of Innovation, Science & Sustainability |
| Unit Title: | Equity and Trusts |
| Unit ID: | BULAW2613 |
| Credit Points: | 15.00 |
| Prerequisite(s): | (BULAW2611) |
| Co-requisite(s): | Nil |
| Exclusion(s): | Nil |
| ASCED: | 090901 |
| Other Change: | |
| Brief description of the Unit |
Building upon the introduction to fiduciary obligations in BULAW2611 Organisation Law, the course examines the fundamental principles of the law of equity and trusts. The course first considers the historical development and nature of equity. It then examines the specific equitable doctrines such as: fiduciary duties; the protection of confidential information; equitable estoppel, and injunctive relief. The second segment of the course considers the law of trusts, commencing with the historical development and nature of the trust. It then examines: the creation of a trust; requirements for a valid trust; trust classifications; trustee duties; beneficiary rights; the position of third parties; remedies for breach of trust including tracing. |
| Grade Scheme: | Graded (HD, D, C, P, MF, F, XF) |
| Work Experience Indicator: |
| No work experience |
| Placement Component: No |
| Supplementary Assessment:Yes |
| Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment |
| Course Level: |
| Level of Unit in Course | AQF Level(s) of Course | | 5 | 6 | 7 | 8 | 9 | 10 | | Introductory | | | | | | | | Intermediate | | |  | | | | | Advanced | | | | | | |
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| Learning Outcomes: |
| Knowledge: |
| K1. | Appreciate the distinction and relationship between legal and equitable principles. |
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| K2. | Comprehension of a selection of equitable remedies and doctrines. |
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| K3. | Appreciate the nature of trusts. |
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| K4. | Identify and explain the duties and rights of both the beneficiary and trustee. |
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| K5. | Explain the different applications of trusts and the different ways a trust can arise. |
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| K6. | Describe the duties/rights/powers of a trustee. |
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| K7. | Describe the rights of a beneficiary including availability of remedies against third parties to a breach of trust |
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| Skills: |
| S1. | Identify legal issues emerging from a specific case scenario |
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| S2. | Conduct and evaluate legal research. |
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| S3. | Communicate legal reasoning and research in written form. |
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| S4. | Recognise and reflect on the professional responsibilities in promoting justice and ethical behaviour. |
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| Application of knowledge and skills: |
| A1. | Apply legal theory to a range of scenarios. |
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| A2. | Apply relevant legal principles to a case scenario. |
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| A3. | Integrate social, environmental, sustainability, ethical and economic perspectives into a business context. |
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| A4. | Use initiative and judgment to research and analyse legal issues that involve specific and relevant types of equitable doctrines and trust principles. |
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| Unit Content: |
Topics may include: 1.Development and Nature of Equity 2.Fiduciary Obligations 3.Confidential information 4.Equitable estoppel 5.Equitable remedies 6.Development and nature of the trust 7.Trust creation 8.Requirements for a valid trust 9.Trustee duties 10.Rights of beneficiaries 11.Classification of trusts 12.Position of third parties 13.Remedies for breach of trust including tracing |
| Graduate Attributes: |
| | Learning Outcomes Assessed | Assessment Tasks | Assessment Type | Weighting | | 1. | K1, K2, S1, A1 | Supervised, closed book test | Test | 10-20% | | 2. | K1, K2, K3, S1, S2, S3, S4, A1, A2, A3, A4 | Individual unsupervised assessment involving both problem solving and research | Assignment | 30-40% | | 3. | K3, K4, K5, K6, K7, S1, S2, S4, A1, A2, A3, A4 | Supervised examination | Examination | 40-60% |
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