Beruflich Dokumente
Kultur Dokumente
TO KEEP ACCOUNT
PRESENTED BY
NUR AMALINA BINTI
MUHAMAD
012012110222
SITI NURLIYANA BINTI AZIZAN
012012110221
SUBJECT :
EQUITY AND TRUST II
DLW 3053
INTRODUCTION
One
INTRODUCTION
CASES
Pearse v Green (1819) the court state
that the first duty of an accounting party
whether an agent, trustee, a receiver or an
executor to be constantly ready
In
It is important
that at the end of every transaction that
take place in the trust, it must be recorded
in the accounts.
CASES
Chan Chin Cheung v Chan Chak
Cheung [2005], the plaintiff was one of the
beneficiaries of an estate. The defendants
were the trustees. At all material times the
defendants resided in Singapore. The plaintiff
was not satisfied with the defendants '
conduct of the affairs of the estate. So he filed
an action in the KL High Court to obtain an
order for an investigative audit of the
accounts of the estate. The court held that a
trustee is obliged to render accounts of the
trust property to a beneficiary.
In
CASES
Shorga
PROVISIONS
Section
EXPLANATION
EXPLANATION
CONCLUSION
It is required by law for trustees to keep accounts of
the trust property. This is because managing a
property that does not belong to us is a very tough
job. It requires patient and honesty which nowadays
not everyone possesses. Keeping account on the trust
property shows all the transaction that the property
undergo.
The reason behind this duty is to protect the trustees
itself. If there were any doubt on the transaction on
the trust property or miscommunication, the accounts
keep will speaks for itself. The court will take it as
evidence. It can help clear the trustees name.