Law Essay: Equity and trust

Equity and Trust
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Equity and Trust
Written laws and rules are subject to the judges' interpretation to fit the problem at hand and deliver justice (Baude & Sachs, 2016). It is, however, hard to please both sides in a case while making a judgment that results in equity and judgment. Two cases of interest in line with equity and trust are the judgments on the Choithram case and the Pennington v Waine judgment.
Pennington v Waine
This was an English law case that dealt with the requirements for a trust to be appropriately constituted. In the case, Mrs Ada Crampton intended to transfer 400 shares from a company to her nephew called Harold. Crampton ordered Pennington, the company auditor to prepare a form of share transfer which she filled and returned it to Pennington. Pennington filed the form and failed to present it to the company to effect the transfer of the shares to Harold. Crampton passed on before the transfer happened. Other people who expected to inherit the shares termed the transfer as incomplete because Crampton had not finished all the processes required to effect a transfer. Harold, on the other hand, argued that the shares were entrusted to him; thus; they should be allocated to him (Gardon et al., 2020).
The court of appeal upheld that indeed Harold is the rightful inheritor of the shares. Judge Arden argued that it would be unreasonable for Crampton to change her mind on gifting Harold the shares meaning the transfer should just be completed. Crampton had already filled the transfer form and given it to Pennington who failed to hand it over to the company. She had further, informed Harold about her plan to transfer the shares, and Harold had no part to play in the transfer.
Judge Clarke argued that the transfer was indeed possible without registration. He said the filling of the forms and filing was enough evidence that the transfer had taken place. It was, therefore, enough evidence that the transfer was intended to take if Crampton was alive. Clarke further discredited Mr McGhee's argument that the principle of equity intervenes only when the donor goes through all the steps required to make official a transfer. Instead, he says that if intentions are clear that the donor was not going to change her mind, then the transfer should be granted even when the donor dies (Gardon et al., 2020).
Choithram
Mr Thakurdas Choithram Pagarani intended to start a trust foundation named Choitram International Foundation. He drew a trust deed which included himself as one of the trustees. Choithram was dying of cancer, and he did not get a chance to fill paperwork for the transfer of his wealth to Jersey Trust to put up his trust foundation. He was by his bed with members of his family, three trustees, the group accountant, and the secretary to the Indian High Commission when declaring that he had given everything to the trust. Some of his family members were not happy with it, but they had to agree because the decision came from Choithram. Choitram then instructed the accountant to transfer all balances to the foundation.
Nevertheless, Choithram died before executing the order...