ABSTRACT
This chapter considers the liability of trustees for any loss suffered by the beneficiaries as a result of a breach of trust. The emphasis changes to those situations in which trusts are breached, such that the beneficiaries may seek to bring claims either to recover the original trust property or to recover its equivalent value in cash from the trustees and others. The trustee's principal duty is said to be to account to the trustees both in the sense of providing accounts as to the contents of the trust fund from time to time and also in the sense of justifying their actions to the beneficiaries. Where the trust instrument contains a clause excluding or limiting the trustees' liabilities, that exemption of liability provision will generally be enforced. Target sought restitution of that fund from Redferns, because it was Redferns who had paid away the property that had formerly been in the trust fund in breach of that express trust.
