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Stacey is a wealthy person who wishes to make a number of gifts to her friends and family. The following events occur: (1)Stacey transfers £100,000 to Timothy, stating ‘I am transferring this money to you because you are the most trustworthy person I know, and I am sure that you will use it fairly and benefit both of my children with it.’ (2)Stacey hands the share certificate for all of her shares in ‘A Company Ltd.’ and a partially completed share transfer form to her best friend, Bertha, stating ‘I am giving these shares to you as a gift.’ Stacey has not signed the share transfer form and later changes her mind, demanding a return of the share certificate and destruction of the transfer form. (3)Stacey declares that she holds her collection of Fabergé eggs on trust equally for her two sisters.
Advise the parties as to the validity and enforceability of these transactions. |
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