EQUITY: WANG'S DISPOSITIONS (a) Wang left 15,00

Since the merger of law and Chancery courts in the 19th century, the powers of the courts to fashion appropriate equitable rights and remedies are quite broad. For example, in Walsh v. Lonsdale [CA] (1882) the Court upheld a lessor's demand for an advance rental payment under an agreement to lease even though such a remedy had not been recognized at common law unless a lease rather than an executory agreement was involved. At the same time it denied the lessee's claim of a right to an injunction against the lessor's distress action and at the same time ordered that the landlord give up possession of the premises once the advance rent was paid.

The issue in Wang's case is whether equitable principles which make a mockery of the formal requirements of law have any validity. In Vandervell Appellant v. Inland Revenue Commissioner's Respondents [HL] 1966 the House of Lords had to decide whether in making a gift of shares to a college a settlor by virtue of an option he granted to trustees retained a sufficient interest in the shares to warrant dividends on them being subject to tax. The Court, L.J.s Reid, Pearce, Upjohn. Donovan and Wilberforce presiding, held that he did and was,

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Vandervell together, in a transfer for no consideration, a disposition of beneficial as well as legal ownership by Wang to the chauffeur Huxley cannot be inferred unless his intention is clear. Huxley obtained temporary legal title as trustee but not beneficial ownership of the 1050 shares. As the Court said in Vanderwell, "If A intends to give away all his beneficial interest in a piece of property and thinks he has done so, but by some mistake or accident or failure to comply with the requirements of the law, he has failed to do so, either wholly or partially, there will, by operation of law, be a resulting trust for him of the beneficial interest of which he failed effectually to dispose. If the beneficial interest was in A and he fails to give it away effectively to another or others or on charitable trusts it must remain in him. Early references to Equity, like nature, abhorring a vacuum are delightful but unnecessary." Lord Wilberforce added "the equitable, or beneficial interest cannot remain in the air: the consequence in law must be that remains in the settlor." Wang, as the settlor/testator, might have thought he conveyed his entire interest in his BS
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Some common words found in the essay are:
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Approximate Word count = 1522
Approximate Pages = 6 (250 words per page)