West v Lazard Bros. [1993] JLR 165 (18 October 1993)

A trust company must explain the terms of a standard form trust to the settlor; if the settlor has no knowledge of the terms, they may not be bound by them.

Citation: [1993] JLR 165
Parties: Applicant: West; Respondent: Lazard Bros.
Jurisdiction: Jersey
Judgment Date: 18 October 1993
Procedural Posture: Civil / Judgment
Outcome: judgment for applicant
Legal Topics: Powers and Duties of Trustees, Trust Company Obligations, Explanation of Trust Terms to Settlor

Trust Law Powers and Duties of Trustees Trust Company Obligations Explanation of Trust Terms to Settlor

Case Brief

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Parties

West

Applicant

Lazard Bros.

Respondent

Procedural Posture

Civil / Judgment

Legal Issues

1 Whether a trust company using a standard form trust has a duty to explain the terms to the settlor
2 Whether a settlor is bound by trust terms if they have no knowledge of them

Ratio Decidendi

A trust company must explain the terms of a standard form trust to the settlor; if the settlor has no knowledge of the terms, they may not be bound by them.

Court Disposition

judgment for applicant