Equity & Trust’s Law applications in Malaysia, UK and US - In tandem or apart?


ABSTRACT The paper focuses on the comparison of Trust laws in three countries, the
United Kingdom (“UK“), Malaysia and the United States of America
(“US“), as the author would like to enlighten the public about the existence
of different trust laws in three different nations. The comparison will help
readers and legislators to analyse the advantages and disadvantages of
existing trust laws in other developed countries which could be
implemented into Malaysian law. Thus, in order to know the law well, the
authors started with the historical background and development of the law
and gradually proceeded to an understanding of the current law. It is crucial
to unravel the spirit of the legislation from an in-depth understanding of the
way the law evolves. The paper also emphasises the differences and
similarities of the current legislations of three countries starting from the
power as well as duties of a trustee followed by the discretion of the trustee.
As the paper develops further into the area of trust law, it is inevitable for
the authors to acknowledge the issue of breach of trust. There are many
issues discussed about the evidence and procedures of the different
jurisdictions in the area of breach of trust. Finally, the authors concludes
with the defences against the charges of breach of trust available in each of
the three countries.