Outline

Overview

This unit offers a detailed study of the content and role of the law of trusts in the management of assets. It examines conceptual analyses of the function served by trust law doctrine (including asset-partitioning, contractarianism and the irreducible core of trusts), as well as considering in depth the core doctrines that regulate the operation of intentionally created trust arrangements (such as trust accounting, the mechanisms for controlling trust powers, information rights, arbitration clauses, purpose trusts and enforcers). It also addresses some of the commercial uses to which trusts are put and the utility (or otherwise) of trusts in those settings. The focus is on traditional ('on-shore') jurisdictions, such as Australia and England, but consideration will also be given to the regimes in some of the 'off-shore' jurisdictions which are known for their innovation in trust laws.

Unit details and rules

Academic unit	Law
Credit points	6
Prerequisites ?	LAWS2015
Corequisites ?	None
Prohibitions ?	LAWS5202
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Matthew Conaglen, matthew.conaglen@sydney.edu.au
Lecturer(s)	Matthew Conaglen, matthew.conaglen@sydney.edu.au

Type	Description	Weight	Due	Length
Assignment	Final assignment (short release) Final 72 hour assignment	70%	STUVAC Due date: 29 May 2023 at 08:00 Closing date: 12 Jun 2023	4000 words / 72 hours
Outcomes assessed:
Assignment	Mid-semester assignment (short release) 72 hour mid-semester assignment	30%	Week 07 Due date: 03 Apr 2023 at 09:00 Closing date: 17 Apr 2023	2000 words / 72 hours
Outcomes assessed:
= hurdle task ?

Assessment summary

Mid Semester Assignment 30%

This will be a short-release assignment in which students are expected to answer a question (either an essay question or a problem question) like an exam, but will have 72 hours to complete their answer. The assessment should not require that length of time to complete. The purpose of the assessment is to determine the degree to which students have understood the material that has been covered in discussion in class, and the materials – it is not a research assignment.

The following details will apply:

word count: 2000 words. This includes footnotes (including footnote numbers and citations); cover page; body text; headings and subheadings; quotations; and anything that Microsoft Word counts as a word. Exam-style referencing (identification of relevant sources in brackets, and use of short-form case names, without full AGLC citations) will suffice - there is no requirement for footnoting - but academic integrity rules still apply
release date & time: 9.00am on 31 March 2023 (Sydney, Australia time)
due date & time: 9.00am on 3 April 2023 (Sydney, Australia time)
Special Consideration outcome: The outcome of an approved special consideration application may include an alternative task, at the discretion of the Unit Coordinator.

The learning outcomes associated with this task are described in the Outline, particularly LO1 and LO2 (although all are relevant).

Final Assignment 70%

This will be a short-release assignment in which students are expected to answer questions (either essay or problem questions, or a combination) like an exam, but will have 72 hours to complete their answer. The assessment should not require that length of time to complete. The purpose of the assessment is to determine the degree to which students have understood the material that has been covered in discussion in class, and the materials – it is not a research assignment.

The following details will apply:

word count: 4000 words. This includes footnotes (including footnote numbers and citations); cover page; body text; headings and subheadings; quotations; and anything that Microsoft Word counts as a word. Exam-style referencing (identification of relevant sources in brackets, and use of short-form case names, without full AGLC citations) will suffice - there is no requirement for footnoting - but academic integrity rules still apply
release date & time: 8.00am on 26 May 2023 (Sydney, Australia time)
due date & time: 8.00am on 29 May 2023 (Sydney, Australia time)
Special Consideration outcome: The outcome of an approved special consideration application may include an alternative task, at the discretion of the Unit Coordinator.

The learning outcomes associated with this task are all of the learning outcomes identified in the Outline.

The use of assistance in preparing and editing assessment tasks in this unit of study is strictly prohibited. Assistance includes human and automated writing tools (not including spell checking).

Word Limit Penalty: A piece of assessment which exceeds the prescribed word limit will attract a penalty of 10% of the total marks available for the piece of assessment for every 100 words, or part thereof. The total word limit will include footnotes (including footnote numbers and citations); cover page; body text; headings and subheadings; quotations; and anything that Microsoft Word counts as a word.

Assessment requirement to pass a unit of study

A student must make a genuine attempt at all assessment tasks set out in this Unit of Study in order to obtain a Pass mark and grade (or above); otherwise an Absent Fail grade will be recorded as the student’s result for this Unit of Study.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100	• Completely answers the question. • Contains striking originality of approach or analysis. • Demonstrates exhaustive or innovative research (where independent research required). • Exceptionally well written, structured and expressed. • Is otherwise exceptional in some way.
Distinction	75 - 84	• Completely answers the question. • Achieves a critical and evaluative approach to the issues. • Content and structure is well organised in support of the argument. • Demonstrates extensive research and analysis to support a well-documented argument. • Generally well expressed and free from errors. • Has a clear structure and is well articulated.
Credit	65 - 74	• Covers main issues fairly well in answering the question. • Contains no significant errors • Demonstrates an attempted critical approach to the issues. • Demonstrates reasonably sound research and analysis in addressing the key issues. • Has a clear structure and reasonably clear expression.
Pass	50 - 64	• Identifies the key issues, but does not follow through with a reasoned argument. • Contains some significant errors. • Displays satisfactory engagement with the key issues. • Offers descriptive summary of material relevant to the question. • Superficial use of material, and may display a tendency to paraphrase. • Demonstrates little evidence of in-depth research or analysis. • Adequate expression. • Overall, demonstrates the minimum level of competence in the assessment and satisfies the requirements to proceed to higher-level studies in the degree or subject area.
Fail	0 - 49	• Does not answer the question. • Contains significant or numerous errors. • Few or no identifiable arguments. • Content that is inappropriate or irrelevant. • Lack of research or analysis. • Difficult or impossible to understand through poor grammar, expression or structure. • Overall, does not demonstrate the minimum level of competence in the assessment.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

The late submission of a piece of assessment, which has not been granted an extension or otherwise approved (eg, via an Academic Plan), will attract a penalty of 25% of the total marks available for the piece of assessment per 24 hours or part thereof after the due date and time. For example, a submission after the due time but before the same time the following day will attract a 25% penalty. Late penalties will be strictly applied subject to a grace period of 10 mins. The date and time of submission as recorded by Canvas is taken as the official and final record of a student’s submission.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Use of generative artificial intelligence (AI) and automated writing tools

You may only use generative AI and automated writing tools in assessment tasks if you are permitted to by your unit coordinator. If you do use these tools, you must acknowledge this in your work, either in a footnote or an acknowledgement section. The assessment instructions or unit outline will give guidance of the types of tools that are permitted and how the tools should be used.

Your final submitted work must be your own, original work. You must acknowledge any use of generative AI tools that have been used in the assessment, and any material that forms part of your submission must be appropriately referenced. For guidance on how to acknowledge the use of AI, please refer to the AI in Education Canvas site.

The unapproved use of these tools or unacknowledged use will be considered a breach of the Academic Integrity Policy and penalties may apply.

Studiosity is permitted unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission as detailed on the Learning Hub’s Canvas page.

Outside assessment tasks, generative AI tools may be used to support your learning. The AI in Education Canvas site contains a number of productive ways that students are using AI to improve their learning.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Weekly schedule

WK	Topic	Learning activity
Ongoing	Theoretical perspectives	Seminar (2 hr)
	Nature of Trusts	Seminar (2 hr)
	Irreducible Core of Trusteeship	Seminar (3 hr)
	Information Rights	Seminar (4 hr)
	Exculpatory Clauses	Seminar (3 hr)
	Court Supervision	Seminar (4 hr)
	Ousting Court Supervision	Seminar (4 hr)
	Trust Contracts and Asset-Partitioning	Seminar (4 hr)
	Controlling Trustee Powers	Seminar (4 hr)
	Trust Accounts	Seminar (4 hr)
	Business Trusts	Seminar (2 hr)
	Securitisations	Seminar (1 hr)
	Debentures	Seminar (1 hr)
	Unit Trusts	Seminar (1 hr)

Attendance and class requirements

Attendance: All students are required to attend 70% of classes to satisfy the pass requirements for each unit of study. Failure to meet this requirement may result in a student being precluded from sitting the final assessment.

Referencing: The Sydney Law School expects you to use the Australian Guide to Legal Citation (4th edition, 2018) for your footnoting style, although you should confirm this with your lecturer, and a link to the library website where this is set out comprehensively is available at https://libguides.library.usyd.edu.au/c.php?g=508212&p=3476376

Assumed knowledge: Students are required to have completed Equity (LAWS 2015) successfully.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

The readings will be contained in the Reading Guide document which will be available on Canvas.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. Students will develop an understanding of conceptual analyses of the functions served by trust law doctrine, particularly asset-partitioning, contractarianism, and the irreducible core of trusts, and will be able to critique aspects of trust law doctrine using these conceptual analyses.
LO2. Students will develop a detailed understanding of the core doctrines that regulate the operation of intentionally created trusts.
LO3. Students will develop an understanding of some of the commercial uses to which trusts are put, and be able to assess the utility of trusts being deployed in those settings.
LO4. Students will develop knowledge of some of the innovations in trust law doctrine, particularly in "off-shore" jurisdictions.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

The changes to assessment are driven by constant (and unproductive) changes to University policy regarding exams and assessments.

Additional information

Resources - Sydney Law Students

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect

Current students

LAWS3502: Advanced Trusts

Semester 1, 2023 [Normal day] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect