The Law Reports (Appeal Cases)
[1971] AC 424
[HOUSE OF LORDS]
MCPHAIL AND OTHERS APPELLANTS AND DOULTON AND OTHERS RESPONDENTS
[ON APPEAL FROM In re
BADEN'S DEED TRUSTS, BADEN AND OTHERS v.
SMITH AND OTHERS]
1970 Jan. 13,
14,
15,
19,
20,
21;
May 6
May 6
Lord Reid, Lord Hodson, Lord Guest, Viscount Dilhorne and Lord Wilberforce
Trusts
— Discretionary
— Power of selection
— Fund for employees
— Trustees “shall” apply income
— Trustees not bound to exhaust income of any year
— Power to apply accumulations as though income
— Whether trust or power
— Whether same or different test applicable in determining validity.
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