Write an answer to ONE of the essay questions below. Your essay should be no longer than 3,000

words. Question 1:

Mr Green Rice is an unmarried English national and resident in Birmingham. He is also a

multimillionaire. He has approached you to give him advice on the following matters that affect

him:

He requests that you shall hold: “£600,000 in a separate UK bank account for my children –

Clara Rice, Sandra Rice and Tom Rice – to be divided equally between them in the event they

get married, provided they do not marry a radical atheist.” He also states that: “John Reading,

my spiritual mentor should be the person that determines the meaning of ‘radical atheist’.”

He informs you that he previously gave Clara Rice £300,000 for her to hold for the educational

expenses of Sandra Rice and Tom Rice in equal shares. On the advice of a financial expert, Clara

has invested the money exclusively in a booming tobacco company called Bazz Well Ltd, that is

yielding huge profit for the Trust. Sandra and Green are unhappy with this because they

actively campaign against smoking and run a small association dedicated to this. Green informs

you that Sandra wants all her money from Clara, and Clara dismissed as a Trustee. Sandra is

also unhappy because she is of the view that Clara is only working in the interest of Tom.

However, Tom is very pleased with the way Clara is making the Trust profitable, and wants the

Trust to continue.

He has informed you that he knows of a financial advisor called Miss Pepper Rest, that he used

to invest a fixed sum of £200,000 in crypto currencies for the equal benefit of Clara Rice,

Sandra Rice, and Tom Rice. Contrary to the instructions of Green, Miss Rest used the money to

purchase a house in Birmingham for herself and her partner (Mr Chop Life) that is now worth

£300,000. Green is worried that he signed a written agreement drafted by Miss Pepper Rest

that excludes her “totally from any form of liability.”Green also informed you that he gave Miss Pepper Rest £500,000 a month ago to launder for

him in various business schemes with the key purpose of evading UK taxes. Green now regrets

his action and wants Miss Rest to return the money, but Miss Rest has no intention of returning

the £500,000. He has informed you that there is reliable information that Miss Rest purchased

shares with the money that are now worth £710,000. Again, Green is worried that he signed a

written agreement drafted by Miss Pepper Rest that excludes her “totally from any form of

liability.”

Green informs you that he placed his ex-girlfriend, Miss Somto Adeyinka in a luxury apartment

in Birmingham. They both wanted to purchase the property in their joint names but they were

told that it would be impracticable because Somto did not have sufficient credit worthiness to

own a house. He thus fully purchased the house on 5 November 2022 only in his name and told

her they both own the house, but told her not to disclose their relationship to his children. In a

WhatsApp exchange between them on 30 November 2023, Somto said she was worried

because she had given up her tenancy to move in to the luxury apartment and did not like

hiding their relationship. Green replied: “Don’t worry we own the house equally.” Green has

fallen out with Somto and Somto can no longer go back to her previous tenancy. Somto is now

refusing to leave and claiming a half share in the luxury apartment. Somto has not contributed

financially to the house.

Finally, Green requests that you shall: “set aside 200,000 to my spiritual mentor, John Reading,

to set up an association to promote the advancement of the Christian religion, with the key aim

of ensuring, by law, that Christianity is the only recognised religion in England.”

Question 2:

From any of the subjects you have studied in Equity and Trusts this semester, which area in

Equity and Trusts do you consider to be the most problematic and why? What reform would

you suggest?