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Knight v Knight (1840) 49 ER 58 is an English trusts law case, embodying a simple statement of the "three certainties" principle. This has the effect of determining whether assets can be disposed of in wills , or whether the wording of the will is too vague to allow beneficiaries to collect what appears on the face of the will to be theirs.
The rule came out of the case of Knight v Knight. [1] The testator , after giving away his personal and real property, added to the end of his will that "I trust to the justice of my successors, in continuing the estates in the male succession, according to the will of the founder of the family".
United States v. E. C. Knight Co., 156 U.S. 1 (1895), also known as the "Sugar Trust Case," was a United States Supreme Court antitrust case that severely limited the federal government's power to pursue antitrust actions under the Sherman Antitrust Act.
The trust was an addition to the law of property, in the situation where one person held legal title to property but the courts decided it was fair just or "equitable" that this person be compelled to use it for the benefit of another. This recognised as a split between legal and beneficial ownership: the legal owner was referred to as a ...
Generally, a private express trust requires three elements to be certain, which together are known as the "three certainties". These elements were determined in Knight v Knight to be intention, subject matter and objects. [16] The certainty of intention allows the court to ascertain a settlor's true reason for creating the trust.
Knightsbridge Estates argued that the long repayment schedule was a clog on the equity of redemption. Byrne argued that because the loan counted as a debenture, under Companies Act 1929 section 74 (now Companies Act 2006, section 739) it was exempt from the rule of equity on clogs of redemption and the contract stayed as it was created.
The creation of express trusts in English law must involve four elements for the trust to be valid: capacity, certainty, constitution and formality. Capacity refers to the settlor's ability to create a trust in the first place; generally speaking, anyone capable of holding property can create a trust.
Landmark Cases in Equity (2012) is a book edited by Charles Mitchell and Paul Mitchell, which outlines the key cases in English trusts law and equity. Content.