A trustee is required to use the same degree of prudence and diligence as a person of ordinary prudence would have done if he had been conducting his own affairs.
Judges:
Lord Blackburn, Earl of Selborne LC
Citations:
(1883) 9 App Cas 1, [1883] UKHL 1, (1883-84) LR 9 App Cas 1
Links:
Jurisdiction:
England and Wales
Citing:
Appeal from – Speight v Gaunt CA 20-Jan-1883
A trustee must act for the beneficiaries as a prudent person of business would act in his own affairs. Sir George Jessel MR said: ‘It seems to me that on general principles a trustee ought to conduct the business of the trust in the same manner that . .
Cited by:
Cited – Nestle v National Westminster Bank CA 6-May-1992
The claimant said that the defendant bank as trustee of her late father’s estate had been negligent in its investment of trust assets.
Held: The claimant had failed to establish either a breach of trust or any loss flowing from it, though . .
Cited – Richards v Wood CA 27-Feb-2014
The defendants had purchased their council house with financial asistance from their son, the claimant. He now asserted that a trust existed in the property in his favour.
Held: ‘unless there is a secure tenancy the statutory right to buy . .
Lists of cited by and citing cases may be incomplete.
Trusts, Negligence, Equity
Updated: 13 July 2022; Ref: scu.263825
