Drugs are chemical substances that can alter the way the body functions. They can be found in many forms, including prescription medications, over-the-counter remedies, and illegal substances. While some drugs are used for medicinal purposes, others are used recreationally and can lead to harmful consequences.
The use of drugs has been present throughout human history, dating back to ancient civilizations. In more recent times, the use and abuse of drugs has become a major issue, with the potential to cause serious health problems and social issues.
One of the main reasons for the use of drugs is for their psychoactive effects, which alter a person's consciousness and can produce feelings of pleasure, relaxation, or altered perception. This is especially true for illegal drugs like marijuana, cocaine, and heroin, which are often used for recreational purposes.
However, the use of drugs can also have negative consequences. Many drugs are highly addictive, and people who use them regularly may develop a physical dependence on them. This can lead to a range of health problems, including organ damage, mental health issues, and even death.
Additionally, the illegal drug trade has contributed to crime and violence in many communities. The production, distribution, and sale of illegal drugs often involve organized crime groups and can lead to corruption and other criminal activity.
There are also societal impacts of drug use. Substance abuse can lead to problems in personal relationships, employment, and education. It can also have negative economic consequences, as the cost of treating drug addiction and the consequences of drug-related crime can be significant.
Despite the potential risks, drugs continue to be a part of society. It is important for individuals to be aware of the potential consequences of drug use and to make informed decisions about whether or not to use drugs. Education and prevention programs can help to reduce the negative impacts of drugs on individuals and communities.
Formalities for the creation of a trust (Chapter 6)
Hodgson able to gain beneficial interest in house despite lack of 1b formalities If we have a lifetime trust of a piece of personal property, there are no statutory formalities — just have to comply with the three certainties If it is a lifetime trust of a piece of land, we have the additional formalities of s53 1b — three certainties and need to evidence the trust and have the settlor sign it — additional formalities. Therefore, as the company is bankrupt it is more than likely that the funds are now untraceable from BuyIt, which means that personal action is only available. The language used to explain formality requirements might appear difficult, but the concept is quite easy to understand. However, in the case of Alan there is more than a mere error of judgement and it is highly likely that his acts would be classed as: Find Out How UKEssays. Ada completed a share transfer form which she sent to her accountant, Pennington, but Pennington failed to forward this form either to the company or Harold. Therefore, the following advice is going to identify a trust is in place, which will ensure that the property transfers to the children.
Constitution and Formalities of Trusts Cases
Contract for valuable consideration — rather than giving it to a 3rd party, you contract with that person to sell it to them for value d. Grey tried to give money to grandchildren on trust without using documents that require stamp duty. Cautionary function: they act as a check against inconsiderate action. Usual practice for trusts created by will was for property to revert back to the testator's estate. As the book was not prepared until years after the will, it could not be incorporated. Once a trust s formed for B, equity recognises B has property rights under the trust — can have legal and equitable rights What do formalities apply to? The Shares: In the case of the shares, as an equitable interest, s, 53 1 c should be followed, which means that the shares should be deeded and in writing, as well as entered into the company books as registration of change.
Equity and Trusts
Held: Her appointment as one of 5 executors, coupled with his continuing intention to give the bonds to her, was held to be sufficient to perfect the gift Facts: Thomas Medley held shares in company and wanted to give them to his Niece. Half-secret trusts If A leaves a right to C in his will, and the will indicates that C is to hold the right on trust, but the terms are separately communicated to C before the making of the will, the court will enforce the trust. Our academic experts are ready and waiting to assist with any writing project you may have. To avoid tax liability he created a trust over 18000 shares and declared himself as sole beneficiary as beneficial interest was retained no tax was payable. However, the indication is that this is not the case. This requirement — answering exam questions by writing — is a formality requirement. Will equity help implement the trust? Generally no need for formalities, however, there are exceptions for: i transfer of land; ii transfer of existing equitable interests; and iii where the trust is made in a will.
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