Validity of the Beneficiary Principle Case Study

Validity of the Beneficiary Principle - Case Study Example The principle of the â€Å"human beneficiary was first set out in the case of Morice v Bishop of Durham2. Since equity starts out in the form of a measure of â€Å"confidence reposed in some other† which imposes â€Å"a duty or aggregate accumulation of obligations† that connotes some beneficial interest3, therefore in the absence of beneficiaries with equitable interests in the assets of the trust, there will be no one in whose favor the Court can decree performance and therefore the trust will fail.4 Alternatively, when there is no clearly identified human beneficiary, a trust could be classified as a charitable trust where the beneficiaries will extend to an entire class of people rather than being restricted to specific individuals, thereby satisfying the beneficiary principle without a clearly identified human beneficiary. However, in order to qualify as a charitable trust, it must satisfy one of the four purposes spelled out in the case of Pemsel5, i.e, (a) advan cement of religion (b) advancement of education (c) relief of poverty and (d) other purposes beneficial to the community. Alternatively, as specified in the case of Re Endacott, â€Å"a trust not being a charitable trust, in order to be effective must have ascertained or ascertainable beneficiaries.†6 In the case of Re Lipinski Oliver J draws a distinction in a testamentary disposition, between a purpose which is invalid (excluding tombs, animals and monuments cases), and a ‘people trust’ which is valid.7 Therefore, the beneficiary principle essentially invalidates trusts which are purpose trusts, unless it is (a) charitable (b) has ascertained or ascertainable beneficiaries or (c) is a trust of imperfect obligation, such as a trust for the upkeep of particular animals as in the case of Re Dean where the testator wanted his horses.

Elements of Marketing Mix Coursework Example | Topics and Well Written Essays - 1500 words

Elements of Marketing Mix - Coursework Example According to the findings, it can, therefore, be said that each and every firm endeavor to set up a mix of the 4 Ps, that they can achieve the highest level of customer satisfaction, alongside achieving objectives set by the organization (Baker and Hart, 2008). Therefore, the mix is prepared to keep in mind the needs and requirements of potential target customers. The mix typically varies from organization to organization, depending upon resources available to them as well as their organizational objectives (Adcock, Halborg and Ross, 2001; Baker, 1991). The following sections will involve an in-depth analysis of the four elements of the marketing mix. The final section will be the conclusion, which will explain the element that is more important.  The product basically refers to the goods and services delivered by an organization. They are basically purchased because they satisfy single or multiple needs of individuals. Customers pay not for the tangible product, but for benefits t hat are associated with it. To put it simply, products can be referred to as a package of benefits, that marketer offers to its customers for a predefined price. For example, while buying a pair of shoes, an individual is actually paying for the comfort that shoes will provide. While buying a lipstick, a consumer mainly pays for the beauty, which is associated with applying such cosmetics. Products can also come in the form of services that are provided to consumers, such as, air travel, telecommunication and so on and so forth. Aside from physical products, there are certain elements that customers may be attracted to; for example, the way it is packaged.