Alibaba has owned a LLB spaceship which its number plate is 013190813.
Alibaba transfer his legal title of the LLB spaceship to Bonao so that Bonao can hold the LLB spaceship as trust property for Coco.
In the trust instrument, Bonao has to transfer this legal title of the LLB spaceship to Coco on 1 september 2019. Unfortunately, Coco die in an accident on Jun 2019.
Before Coco die, Coco created a trust for that LLB spaceship. Coco want Didi to be a trustee holding the LLB spaceship in future for Eve as a benefiary.
Question:
1)who has the right on the LLB spaceship?
2)if the "Words" is certain, who has the right on the LLB space ship?
P/s It is one of my Wakao university trust law exam question. Because i lack of confident on my answer so i post this question here in order to seek for the correct answer. you are welcome to give me a commnet here although you are not answering it.
9 hours ago
1 comment:
I simplify my own answer for this question here. i wish anyone who has the legal knowledge can correct my mistake. see below.
To ensure there is a trust created, we have to determine that the 3 conditions for a valid trust is fulfilled. These 3 conditions are capacity, formality and 3 certainty. The conditions for capacity and formality is not problem here. so, i just ignore them. lets go to the 3 certainty. these 3 certainty are "Word", "Sudject Matter", and "Object".
Due to Coco's death, the object of the first trust which created by the setlor Alibaba is not certain. Then, there is no trust. In this situation, a resulting trust is arisen. Thus, The equitable title of the LLB spaceship is returned to Alibaba.
For the second trust created by Coco, because of the Coco's death, the legal title is not obtained. In the other words, Coco never owned this LLB spaceship before he die since the legal title of the LLB spaceship is only passed to him on 1 september 2009 and not before Jun 2009. This make the subject matter of trust be not certain.
Due to Resulting Trust is applied here. Alibaba is the person who has the ownership's right on that LLB spaceship
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