1. Trusts - a complex area of the law. The creation of an express trust (i.e. one intended created and not arising by law or fact) requires three certainties. They are; Certainty of intention Certainty of subject matter (trust property) Certainty of object (beneficiary or purpose)

Scenario

Basil declared himself trustee of 5% of the issued share capital of Basil Electrical Co Pty Ltd. There were 1000 shares in the company. There was no further identification of the 50 shares held on trust.

Assessment tasks

Is there sufficient certainty for creation of a trust? In addressing this question identify theresearch question, explain the relevant law succinctly relating to the research question and then discuss your research methodology, and finally provide an answer to the question.