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(p. 171) 10. Modification 

(p. 171) 10. Modification
Chapter:
(p. 171) 10. Modification
Author(s):

Simon Gardner

DOI:
10.1093/he/9780199545759.003.0010
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date: 25 August 2019

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 the law on the modification of the duties of trustees. Express trustees' duties are in practice often modified by the terms on which the settlor establishes the trust. Depending on its particular wording, such a modification can operate either to adjust the duty itself or to adjust the liability that the trustees would otherwise incur upon breaching the duty. Section 61 of the Trustee Act 1925 provides that where trustees have breached their duty, but in doing so they acted honestly and reasonably, the court can negative their liability if it thinks it fair to do so. Trustees also incur no liability for breach of trust if they act with their beneficiaries' consent.

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