Section outline

  • Law of Equity and Trust (Law 203)


    Instructions/Guideline for the course:

    1. All the students registered for this course have to enroll in Moodle and can find all the course materials here.

    2. Any announcement regarding the class will be posted on the course "Notice Board" ans you have to be active and check it regularly.

    3. One discussion or feedback forum is created under each of the lecture Students have to give their feedback on these forum and marks will be given for their feedback

    4. All the students have to submit a copy of their assignment, special tasks or reports under specific section created here and for this they will be graded here.

    5. All the quizzes and presentation will be held on face to face class and may be few of the class will be held on online (Moodle) and it will be announced before the class. 

    Exception: During Summer-2020 semester, all the classes will be conducted online using "Google Meet". Recorded audio and video class lectures will be uploaded here along with the class lecture materials like: Slides, Docs or PDFs.

    6. The question pattern and the syllabus for the quizzes, midterm and final exam is given here under each of the section (quizzes, midterm and final)

    7. There are midterm and final exam preparation forum under these sections where students can discuss with each other about their midterm and final exam syllabus, any problem regarding the exam etc.

    8. There will be attached materials, videos or website link with every lecture. You are requested to check out those before every class for better understanding.

    9. At the end of the course, there is a feedback section where every student must write their opinion.


    Aims and Objectives: 

    Equity is the soul and spirit of all law. Positive law is constructed and natural is is made by it. Equity is the synonyms of justice. The objective of the course is to provide students with an overall understanding of the law of equity with special emphasis on fiduciary obligations and trusts. The course will consider the history of equity, basic principles which dominate its jurisprudence and the relevance of equity today; the nature of trusts, recognized categories of fiduciaries and the extension of these categories in recent times, breach of fiduciary obligations, defenses and remedies for the breach of fiduciary obligations; the requirements for express trusts, the liability of a third party to a breach of trust or fiduciary duty, and the remedies for breach of trust and fiduciary duty.This course assumes a knowledge of contract, property and legal history. The subject reinforces and deepens understanding of specific doctrines referred to in other courses such as Contracts, Property, Corporations Law and Family Law.


    Course Content: 

    1. Maxims:

    Equity sees that as done what ought to be done/ Equity will not suffer a wrong to be without a remedy

    Equity delights in equality/ One who seeks equity must do equity

    Equity aids the vigilant, not those who slumber on their rights/ Equity imputes an intent to fulfill an obligation

    Equity acts in personam or persons/ Equity abhors a forfeiture

    Equity does not require an idle gesture/ He who comes into equity must come with clean hands

    Equity delights to do justice and not by halves/ Equity will take jurisdiction to avoid a multiplicity of suits

    Equity follows the law/ Equity will not aid a volunteer

    Where equities are equal, the law will prevail/ Between equal equities the first in order of time shall prevail

    Equity will not complete an imperfect gift/ Equity will not allow a statute to be used as a cloak for fraud

    Equity will not allow a trust to fail for want of a trustee/ Equity regards the beneficiary as the true owner

    2. Trust:

    The Trust Act 1882 of Bangladesh Definition and concept of trust/ Classification of trust

    Distinction of trust from other relationship (Like: Contract, Bailment, Agency, Debt etc.)

    Duties and liabilities of the Trustees/ Rights and powers of the trustees/ Rights and liabilities of the beneficiary