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Chapter

Cover Business Law

5. Establishing an Agreement: Offer and Acceptance  

This chapter identifies the essential features necessary in the establishment of a legally binding contract. Most contracts need not be given in writing, and a contract could be regarding as something as simple as buying a newspaper or a cup of coffee. In fact, many contracts that are established are not done so in writing, even if a receipt is received. However, each of the essential features noted in this chapter is present in forming those contracts. Before the essential features are considered, it is important to note that contracts can be established by the parties exchanging promises, or by one party promising to perform an act in return for some action by the other. In the latter scenario, the second party has no obligation to take any action unless it wishes to enter into a contract.

Chapter

Cover Essential Cases: Contract Law

Entores Ltd v Miles Far East Corporation [1955] 2 QB 327  

Essential Cases: Contract Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Entores Ltd v Miles Far East Corporation [1955] 2 QB 327. The document also includes supporting commentary from author Nicola Jackson.

Chapter

Cover Essential Cases: Contract Law 5e

Entores Ltd v Miles Far East Corporation [1955] 2 QB 327  

Essential Cases: Contract Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Entores Ltd v Miles Far East Corporation [1955] 2 QB 327. The document also includes supporting commentary from author Nicola Jackson.

Chapter

Cover The Principles of Equity & Trusts

20. Personal Liability of Third Parties  

This chapter examines the personal liability of third parties when there is a breach of trust or breach of fiduciary duty. It explains that there are two types of personal liability of third parties. One is receipt-based liability when a third party has received property in which the beneficiary or principal has an equitable proprietary interest and the other is accessorial liability when the third party has encouraged or assisted a breach of trust or fiduciary duty. The elements of different causes of action relevant to receipt-based liability and accessorial liability are examined, notably the action for unconscionable receipt and the action of dishonest assistance. The controversial question of whether liability should be strict or fault-based is considered and, if the latter, the nature of the fault requirement.

Chapter

Cover The Principles of Equity & Trusts

20. Personal Liability of Third Parties  

This chapter examines the personal liability of third parties when there is a breach of trust or breach of fiduciary duty. It explains that there are two types of personal liability of third parties. One is receipt-based liability when a third party has received property in which the beneficiary or principal has an equitable proprietary interest and the other is accessorial liability when the third party has encouraged or assisted a breach of a trust or fiduciary duty. The elements of different causes of action relevant to receipt-based liability and accessorial liability are examined, notably the action for unconscionable receipt and the action of dishonest assistance. The controversial question of whether liability should be strict or fault-based is considered and, if the latter, the nature of the fault requirement.

Chapter

Cover The Law of Trusts

15. Third party liability for breach of trust and fiduciary obligations  

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter considers third party liability for breach of trust and fiduciary obligation. It begins by considering third party liability for procuring a breach of trust, followed by third party liability for assisting a breach of trust, and the relevant remedies. Next, it considers remedies for knowing receipt and knowing dealing, the conditions of liability, and the relevant remedies. Finally, issues pertaining to limitation of actions are considered, as well as third party liability for breach of fiduciary obligation.

Chapter

Cover Essential Cases: Equity & Trusts

Williams v Central Bank of Nigeria [2014] UKSC 10, Supreme Court  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Williams v Central Bank of Nigeria [2014] UKSC 10, Supreme Court. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Re Montagu’s Settlement Trusts [1987] Ch 264, Chancery Division  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Re Montagu’s Settlement Trusts [1987] Ch 264, Chancery Division. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Bank of Credit and Commerce International (Overseas) Ltd v Akindele [2001] Ch 437, Court of Appeal  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Bank of Credit and Commerce International (Overseas) Ltd v Akindele [2001] Ch 437, Court of Appeal. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Novoship (UK) Ltd v Mikhaylyuk [2014] EWCA Civ 908, Court of Appeal  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Novoship (UK) Ltd v Mikhaylyuk [2014] EWCA Civ 908, Court of Appeal. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover An Introduction to the Law of Trusts

14. Liabilities of Strangers  

Celebrated for their conceptual clarity, titles in the Clarendon Law Series offer concise, accessible overviews of major fields of law and legal thought. This chapter considers instances in which people who are not themselves trustees (‘third parties’, ‘strangers’) can find themselves liable for wrongs to trusts. It discusses the three classes of this additional form of liability: dishonest assistance, trusteeship de son tort, and knowing receipt. It shows that ‘knowing receipt’ does not in truth belong in this group, being a liability for breach of trust on the part of someone who is actually a trustee, having taken an unauthorized transfer of trust property from its previous trustee.

Chapter

Cover Essential Cases: Equity & Trusts

Williams v Central Bank of Nigeria [2014] UKSC 10, Supreme Court  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Williams v Central Bank of Nigeria [2014] UKSC 10, Supreme Court. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Re Montagu’s Settlement Trusts [1987] Ch 264, Chancery Division  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Re Montagu’s Settlement Trusts [1987] Ch 264, Chancery Division. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Bank of Credit and Commerce International (Overseas) Ltd v Akindele [2001] Ch 437, Court of Appeal  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Bank of Credit and Commerce International (Overseas) Ltd v Akindele [2001] Ch 437, Court of Appeal. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Novoship (UK) Ltd v Mikhaylyuk [2014] EWCA Civ 908, Court of Appeal  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Novoship (UK) Ltd v Mikhaylyuk [2014] EWCA Civ 908, Court of Appeal. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Equity & Trusts Law Directions

19. The equitable liability of strangers to the trust  

Without assuming prior legal knowledge, books in the Directions series introduce and guide readers through key points of law and legal debate. Questions, diagrams and exercises help readers to engage fully with each subject and check their understanding as they progress. This chapter shows how a stranger to the trust may be threatened with personal equitable liability. It explains the rationale behind equitable liability for ‘knowing receipt’ of trust property, considers the distinction between ‘knowing receipt’ and ‘inconsistent dealing’, examines the nature of a stranger’s liability for dishonest assistance in (or procurement of) a breach of trust and looks at possible reforms of the law in this area. The chapter also discusses how liability of strangers differs from tracing, trusteeship de son tort, the four requirements for ‘dishonest assistance’ (existence of a trust, breach of the trust, assistance and dishonesty), the relationship between knowledge and dishonesty in cases of dishonest assistance and whether accessory liability should be a common law tort.

Chapter

Cover Poole's Textbook on Contract Law

2. Agreement  

Robert Merkin, Séverine Saintier, and Jill Poole

Course-focused and comprehensive, Poole’s Textbook on Contract Law provides an accessible overview of the key areas on the law curriculum. This chapter explains how to determine whether parties have reached an agreement. Traditionally, the existence of agreement is determined objectively on the basis of an offer and corresponding acceptance. However, this approach has been challenged for being artificial and inflexible, and even in the absence of these traditional criteria the courts have occasionally found agreement, particularly where there has been performance. For formation there needs to be an offer (as opposed to an invitation to treat) and that offer must be accepted before it has been rejected or otherwise lapsed. In order to be effective, offer and acceptance must be properly communicated, which normally means ‘received’. The chapter also considers the mirror-image rule, whereby an acceptance must be unconditional and correspond with the exact terms proposed by the offeror. This chapter also examines principles that determine when an agreement can be enforced with sufficient certainty and whether liability will arise in the absence of agreement. An apparent contract will be void if the terms are considered too uncertain or where there is no context for gap filling. But this must be balanced with the need to prevent the parties from using allegations of uncertainty to escape from bad bargains. This chapter therefore considers how the courts deal with the difficult question over agreements to agree.

Chapter

Cover Poole's Textbook on Contract Law

2. Agreement  

Robert Merkin KC, Séverine Saintier, and Jill Poole

Course-focused and comprehensive, Poole’s Textbook on Contract Law provides an accessible overview of the key areas of the law curriculum. This chapter explains how to determine whether parties have reached an agreement. Traditionally, the existence of agreement is determined objectively on the basis of an offer and corresponding acceptance. However, this approach has been challenged for being artificial and inflexible, and even in the absence of these traditional criteria the courts have occasionally found agreement, particularly where there has been performance. For formation there needs to be an offer (as opposed to an invitation to treat) and that offer must be accepted before it has been rejected or otherwise lapsed. In order to be effective, offer and acceptance must be properly communicated, which normally means ‘received’. The chapter also considers the mirror-image rule, whereby an acceptance must be unconditional and correspond with the exact terms proposed by the offeror. This chapter also examines principles that determine when an agreement can be enforced with sufficient certainty and whether liability will arise in the absence of agreement. An apparent contract will be void if the terms are considered too uncertain or where there is no context for gap filling. But this must be balanced with the need to prevent the parties from using allegations of uncertainty to escape from bad bargains. This chapter therefore considers how the courts deal with the difficult question over agreements to agree.