Publication Type
Journal Article
Version
acceptedVersion
Publication Date
9-2020
Abstract
This article reviews Millett LJ’s classic characterisation of the irreducible core content of trusteeship. Using duty modification / exclusion clauses that are commonly found in modern trust-corporate structures to circumvent a trustee’s duty to actively engage in corporate management as an example, this article has two main objectives. First, this article re-examines the duty to act honestly and in good faith in the irreducible core; and secondly, it considers how our reanalysis can help conceptualise and construe the ‘residual supervisory obligation’ enunciated by the courts in the recent Zhang v DBS litigation.
Keywords
Trustee's duties, trust, irreducible core, exclusion clauses, duty modification clauses, Bartlett duty
Discipline
Estates and Trusts
Research Areas
Corporate, Finance and Securities Law
Publication
Journal of Equity
Volume
10
First Page
131
Last Page
151
ISSN
1833-2137
Publisher
LexisNexis
Embargo Period
5-4-2021
Citation
LEE, Rebecca and YIP, Man.
Exclusion of duty and the irreducible core content of trusteeship: A re-assessment. (2020). Journal of Equity. 10, 131-151.
Available at: https://ink.library.smu.edu.sg/sol_research/3248
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.