ABSTRACT
When does a breach of trust occur? What is the liability of incoming and retired trustees? What are the implications of joint liability of trustees? What is the measure of a trustee’s liability for breach of trust? What are the defences to an action for personal liability? How are exemption clauses in the trust instrument treated? When is a claim statute barred? What is the distinction between tracing and following? What conditions must be satisfied for equitable tracing? Discuss tracing into unmixed funds Explain tracing when the trust fund is mixed with the trustee’s funds Discuss tracing into two trust funds which have been mixed together Can tracing take place when trust funds have been paid to an innocent volunteer?
