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					                                                                                                                                                                                                         O B L I G AT I O N S

NEW EDITION
Anson’s Law of                                                                                                  The Economic Structure of Trusts
Contract                                                                                                        Towards a Property-based Approach
                                                                                                                M.W. Lau, Director, Chinese Estates, Holdings Limited, Hong Kong
T W E N T Y- N I N T H
EDITION                                                                                                         This book provides an economic account of why trusts exist and how trust law should be shaped.
Jack Beatson FBA, A                                                                                             The trust is a key legal institution in the common law world but it has been neglected by the law and
Justice of the High Court,                                                                                      economics community until recently. Borrowing theories and doctrines from corporate law and
Queen’s Bench Division,                                                                                         economics, scholars have variously analysed and described the trust as a tripartite contract, a nexus of
and sometime Rouse Ball                                                                                         contracts, and even a legal entity. These obligational approaches overlook the unique features of trusts
Professor of English Law,                                                                                       for which corporate legal theories have no explanation. Most importantly, they fail to account for the
University of Cambridge,                                                                                        nature of the beneficiary’s interest in the trust property.
Andrew Burrows FBA, QC (Hon), Norton Rose
Professor of Commercial Law, University of Oxford,                                                              This book presents an original analysis of the common law of trusts, arguing that trust law is about the
and John Cartwright, Professor of the Law of                                                                    trust property and the principal parties’ relationships with it. At the same time it questions recent trends
Contract, University of Oxford, and Professor of                                                                in trust law, especially those in offshore jurisdictions. Exotic developments such as non-charitable
Anglo-American Private Law, University of Leiden                                                                purpose trusts, settlor-retention of wide powers, and generous trustee exemption clauses have become
                                                                                                                the new normal and, coincidentally, draw analytical support from obligational accounts. It develops
Anson’s Law of Contract is a classic text in the field,
                                                                                                                an analysis of trusts from a proprietary perspective, and applies the property-based approach to the
renowned for offering an accurate, authoritative
                                                                                                                economic analysis of trusts — explaining the economic benefits of trusts as an extension of the law
and stimulating account of the law and its
                                                                                                                of property. It also demonstrates how, once trusts are properly understood as property, it becomes
underlying principles. In this edition Sir Jack
                                                                                                                obvious why these novel developments can only be for the worse, and should be reversed.
Beatson has been joined by Professor Andrew
                                                                                                                978-0-19-960240-7, Hardback                                                                             £70.00
Burrows and Professor John Cartwright to
create an exceptional author team.                                                                              230 Pages
                                                                                                                February 2011
The 29th edition continues to provide
comprehensive and detailed coverage of all
topics covered on modern contract law courses,
and has been completely revised and updated
to incorporate all notable developments in case
                                                                                                         International                                                        L aw from Oxford Journals
law, legislation, and academic debate.                                                                   Succession
                                                                                                         Louis Garb, Solicitor,
                                                                                                                                                                           Medical Law
978-0-19-928247-0, Paperback                                                              £35.99
978-0-19-959333-0, Hardback                                                               £88.00         Louis Garb & Co., and                                             Review
                                                                                                         John Wood, Consultant,                                            Editor-in-Chief:
848 Pages
                                                                                                         Herbert, Smith LLP                                                Margot Brazier,
August 2010
Beatson FBA, Burrows FBA, QC (Hon), and Cartwright: Anson’s Law of Contract                              ‘This is a slendid                                                University of Manchester
                                                                                                         resource, not only for                                            Medical Law Review is
NEW EDITION                                                                                              the modern private
                                                                                                                                                                           established as an
The Law of Restitution                                                                                   client lawyer, but
                                                                                                                                                                           authoritative source
                                                                                                         also for litigants and
THIRD EDITION                                                                                            academics alike...Garb                                            of reference for
Andrew Burrows FBA, QC (Hon), Norton Rose                                                                and Wood’s meticulously researched work is                        academics, lawyers,
Professor of Commercial Law, University of Oxford                                                        an invaluable acquisition in any law library.’                    legal and medical
                                                                                                             Phillip Taylor MBE, Richmond Green Chambers                   practitioners, law students, and anyone interested
Andrew Burrows continues to provide an                                                                                                                                     in healthcare and the law.
authoritative account of the law of restitution in                                                       l        Provides a comprehensive survey of succession
the third edition of this highly-praised textbook.                                                                laws in fifty countries                                  Read FREE articles from Medical Law Review
Fully revised and updated, this edition includes a                                                                                                                         Visit: www.medlaw.oxfordjournals.org
                                                                                                         l        Enables easy cross-referencing with a
wealth of new cases and academic thinking in                                                                      questionnaire format for each country                    Published 4 times per year
addition to thorough examination of the subject                                                          l        Considers the practical issues arising out of            Brazier: Medical Law Review


as a whole. As with previous editions, the author’s                                                               inheritance across multiple jurisdictions
expert analysis and clarity of style will be
                                                                                                         l        Entries written by experienced practitioners in
invaluable to students and practitioners
                                                                                                                  the relevant jurisdiction around the world
with an interest in this area of law.
                                                                                                         978-0-19-955027-2, Hardback                       £145.00
78-0-19-929652-1, Paperback                                                               £35.99
                                                                                                         840 Pages
760 Pages                                                                                                January 2010
December 2010
                                                                                                         Garb and Wood: International Succession

Burrows: The Law of Restitution




 Order online at: www.oup.com                                                 |   Order by telephone on +44(0) 1536 741727
                                                                                                                                                                                                          1                    71
O B L I G AT I O N S

                                                                                                                 NEW EDITION
 NEW EDITION
                                                                                                                 International Trust Laws
 An Analysis of the Economic Torts                                                                               Paolo Panico, Managing Director, Private Trustees
 SECOND EDITION                                                                                                  SA Luxembourg & Geneva; Adjunct Professor of
 Hazel Carty, Reader in Law, Manchester University Law School                                                    International Business, University of Modena, Italy

 l   The only monograph to cover all the economic torts                                                          ‘The copioulsy researched and lucidly written
                                                                                                                 International Law of Trusts is an important book.’
 l   The first edition was cited and commended by the House of Lords in the
     OBG v Allan case, one the two recent key decisions on the general                                               Phillip Taylor MBE, Richmond Green Chambers
     economic torts                                                                                              International Trust Laws provides practical and
 l   Provides a single framework in which to analyse the ways in which the                                       broad ranging coverage of the most important
     common law balances the need to redress economic harm and the need                                          issues in international trust law across leading
     for effective competition, illustrating the best way forward                                                jurisdictions. It analyzes crucial topics
                                                                                                                 surrounding the creation of trusts, the powers and
 New to this edition
                                                                                                                 duties of trustees, mechanisms of control, and the
 l Updated to include the two key House of Lords cases in economic tort law — OBG v Allan and Total
                                                                                                                 special uses of trusts. The topics are considered in
   Network v Revenue
                                                                                                                 the light both of their original development under
 l Includes a chapter debating the future of misrepresentation economic torts
                                                                                                                 English law, and the statutory solutions worked
 The economic torts for too long have been under-theorized and under-explored by academics and the               out by offshore jurisdictions such as Jersey,
 judiciary alike. In recent years claimants have exploited the resulting chaos by attempting to use the          Guernsey, the Cayman Islands, the Bahamas, the
 economic torts in ever more exotic ways. This second edition, as before, attempts to provide practical          Isle of Man and New Zealand. Other examples are
 legal research to both explore the ingredients of all these torts — both the general economic torts             drawn from a wealth of other jurisdictions
 (inducing breach of contract, the unlawful means tort, intimidation, the conspiracy torts) and the              including Dubai, Mauritius, and the Cook Islands.
 misrepresentation economic torts (deceit, malicious falsehood and passing off) — and their rationales.          The book also reviews a wealth of case law from
 And, as before, an optimum framework for these torts is suggested.                                              English and offshore courts and offers a unique
 However that framework has to take on board the apparent tension within the House of Lords as revealed          consideration of the recognition and impact of
 in the recent decisions in OBG v Allan and Total Network v Revenue. Over 100 years ago the House of             trust law issues in civil law contexts.
 Lords in the seminal decision of Allen v Flood in theory set the agenda for the modern development of
                                                                                                                 978-0-19-955162-0, Hardback                       £145.00
 the economic torts. The majority in that case adopted an abstentionist approach to liability for
 intentionally inflicted economic harm, so that even where intentional and unjustified economic harm             664 Pages
                                                                                                                 February 2010
 was inflicted, liability would not necessarily follow. However, this clear framework for the torts was          ^BPanico^N: International Trust Laws



 obscured by subsequent case law, leaving the economic torts in a hopeless muddle by the start of the
 twenty-first century. A chance to finally sort out this mess was presented to the House of Lords in 2007 in     NEW EDITION
 the shape of three conjoined appeals, reported under the name OBG v Allan. The thrust of the judgments          The Law of Trusts
 was that a framework for the economic torts was to be established and dicta and decisions that caused
 problems and incoherence were to be named and shamed. Re-affirming the abstentionist philosophy                 SEVENTH EDITION
 of Allen v Flood Lord Hoffmann and Nicholls and Baroness Hale in part relied upon the first edition of          J.E. Penner, Professor of Property Law, University
 An Analysis of the Economic Torts, Lord Hoffmann noting ‘... if what I have said does anything to clarify       College London
 what has been described as an extremely obscure branch of the law, much is owing to Hazel Carty’s book          Series Editor Nicola Padfield, Fitzwilliam College,
 An Analysis of the Economic Torts’. However, within 10 months of the OBG decision, a differently constituted    Cambridge
 HL in Total Network SL v Revenue & Customs Commissioners undermined this nascent coherence and
 did so by focusing on the conspiracy torts (previously dismissed by some commentators as anomalous              l        High quality analysis and clear and efficient
 or superfluous). Distinguishing OBG (which did not as such analyse the conspiracy torts) the House of                    explanation of complex concepts gives
 Lords in Total Network may have shifted the general economic torts from the abstentionist to the                         students an excellent grounding in the law
 interventionist track of development.                                                                                    of trusts
                                                                                                                 l        Numerous text features, including chapter
 Thus it is suggested that conflicting agendas for general economic liability can be discerned in the
                                                                                                                          summaries, must-read cases, self-assessment
 OBG and Total Network judgments. These agendas are debated (against the background of the growing
                                                                                                                          questions, further reading lists and a
 academic debate) and a coherent approach suggested. As for the misrepresentation torts their potential
                                                                                                                          bibliography all ensure this book equips
 for development is also discussed and the peril of allowing them to transform into unfair trading or
                                                                                                                          students with the tools they need to consolidate
 misappropriation torts is explained. As a result, the second edition involves a substantial re-write of the
                                                                                                                          their study
 first edition. However, the thesis of the author remains that a coherent framework for these torts can
 best be constructed based on a narrow remit for the common law.                                                 l        The lively writing style engages readers and
                                                                                                                          encourages critical and analytical thinking
 978-0-19-954674-9, Hardback                                                                            £60.00
                                                                                                                          around the subject
 234 x 156 mm, 432 Pages
 November 2010                                                                                                   The Core Text Series takes the reader straight to
                                                                                                                 the heart of the subject, providing a reliable and
                                                                                                                 invaluable guide for students of law at all levels.
                                                                                                                 Written by leading academics and renowned
                                                                                                                 for their clarity, these concise texts explain the
                                                                                                                 intellectual challenges of each area of the law.
                                                                                                                 Lively and engaging, The Law of Trusts is an accessible
                                                                                                                 read that does not skirt around complex or
                                                                                                                 difficult issues. James Penner provides perceptive
                                                                                                                 analysis and original and thought-provoking
                                                                                                                 commentary to give students an excellent
                                                                                                                 grounding in what is considered to be a difficult
                                                                                                                 subject.
                                                                                                                 Core Text Series
                                                                                                                 978-0-19-957706-4, Paperback                       £24.99
                                                                                                                 552 Pages
                                                                                                                 June 2010
                                                                                                                 Penner: The Law of Trusts




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