LAW2041 Assignment 1 PDF

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UNIVERSITY OF EXETER SCHOOL OF LAW

Summative Assessment – 2020/21

LAW2041

Equity and Trusts

Submission Date:

Thursday 10th December 2020 before 2.00 p.m. Please read the following instructions carefully:

1. Word Limit. Essays must not be more than 2,000 words long (excluding footnotes and bibliography). The number of words used must be stated on the front of each essay. Inaccuracy in stating the number of words used, if more than trivial, may be considered as intentionally misleading and result in University disciplinary proceedings. Marks will be deducted for failure to comply with this requirement as follows: for up to and including 5% beyond the word limit, four marks will be deducted; for over 5% beyond the word limit, twelve marks will be deducted. Footnotes and bibliography will not be included in the word limit unless the footnotes contain text, in which case such text will be included in the word limit. Text includes any commentary or explanatory material not necessary to the referencing. 2. Referencing, Typeface and Font. All essays should use 12 point Arial typeface and double-spacing. Where relevant you must use OSCOLA referencing, for further information please see: https://www.law.ox.ac.uk/sites/files/oxlaw/oscola_4th_edn_hart_2012.pdf 3. Submission and Late Submission Penalties. Essays are submitted online through eBART. To submit your work you will need to log in to eBART and select ‘Submit online’ for the correct assessment. For more information on submitting your work through eBART please visit the following web page: http://as.exeter.ac.uk/it/systems/bart/ We strongly recommend reading the guidance on submitting coursework via eBART to allow for any problems you may encounter when submitting, and to avoid incurring any penalties. Do read the ‘Submitting Coursework Online Through eBART’ guidance for information on how to submit your work and to avoid any unwanted problems. You should aim to submit your work 3 hours in advance of the deadline to allow time to deal with any problems that arise when submitting. At busy times submitting the day before is advisable. If technical problems prevent you from submitting on time because you have not left a reasonable amount of time to submit you will NOT be granted an extension. This will have significant consequences for your grade. It is your responsibility to ensure that the correct document is uploaded before the submission deadline. Please turn over

This essay counts for 40% of the final module mark. You will have a second opportunity to submit a Summative Assessment in Term 2. If you submit both assessments, the better mark will count 40% of the final module mark. Please note Summative Assessments that are submitted up to two weeks late will be accepted, but shall receive a mark of 40, or the actual mark if that is lower. After that date, any essay submitted will receive a mark of 0. 4. Marking Scheme for Law Assessments. All assessments are marked according to the Law Specific Marking Scheme as outlined on the Assessment and Feedback Undergraduate Resources Page on ELE. Please see: http://vle.exeter.ac.uk/: Law Assessment and Feedback Undergraduate Resources (Expected Date of Return of Assessment Comment sheets: Thursday 8th January 2021) For further information on Academic Conduct and Practice see visit: http://as.exeter.ac.uk/academic-policy-standards/tqamanual/aph/managingacademicmisconduct/

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ESSAY TITLE Vito is married to Carmela, and has three children, Sonny, Freda and Carla. In addition to other assets, Vito owns all 2,000 shares in an olive oil importing company (‘the company’). Vito also owns three houses, in London, Cornwall and in Scotland, and has a collection of vintage wine in his cellar. Vito makes a will, which includes the following provisions: I leave 1,500 of the shares in the company to my trustees for the benefit of my children during their lifetimes while they remain adherent to the values which I have taught them, and on their death to my grandchildren in equal shares. In the case of any doubt as to whether any of my children remains adherent to the values which I have taught them, the trustees shall accept the decision of my son, Sonny, as binding. I leave 500 shares to my daughter, Freda, knowing that she will use them for the education, maintenance and benefit of her children. I leave 100 bottles of the wine now stored in my cellar to my wife, with the remaining bottles to be divided equally between my children, but any of the people who have helped me in my career may take one bottle in memory of me. I leave my houses to my trustees to hold on trust for the benefit of my wife, Carmela, and on her death, I direct that Sonny shall have whichever house he shall choose. I leave the remaining houses to Freda and Carla, with Freda taking whichever house she chooses and Carla taking the remaining house. I give all my remaining property to my trustees for the purpose of making of grants in such amount as the trustees shall determine to the current and former employees of the company and to any of the people who helped me to make my company successful. Unfortunately, Sonny died in a work-related incident two weeks before Vito died. Consider the validity of these provisions.

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