This chapter considers the nature of the trust and the nature of trusts law in consequence. The purpose of this chapter is to establish some key themes which will run through the debates in Part 2 (Chapters 4–11) of this book: those debates relate to particular aspects of trusts law. The previous chapter considered the nature of equity and conceived of trusts law as being a part of equity. Within that discussion, however, was a suggestion that there is something about trusts law which is paradoxical or awkward to categorise as a result of trusts law being both a part of equity and yet being comprised of some detailed rules which seem at odds with the caricature of equity as a zone of discretionary principles. Unpacking that aspect of trusts law is the underlying goal of this chapter.
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