This sixth edition of Principles of Equity and Trusts has been comprehensively updated and revised. It retains its original style of presenting principles and remedies relevant to equity and trusts in a straightforward and succinct manner, referencing up-to-date cases and materials. It includes a discussion of new developments in fiduciary obligations, express trusts, unconscionable dealing, constructive trusts, penalties, injunctions, trustee duties and charitable trusts.
Among the many significant new decisions discussed in the sixth edition are the following judgments of the High Court of Australia:
• Pipikos v Trayans (2018) 265 CLR 522 (part performance and estoppel).
• Ancient Order of Foresters in Victoria Friendly Society Ltd v Lifeplan Australia Friendly Society Ltd (2018) 265 CLR 1 (breach of fiduciary duty; account of profits).
• Carter Holt Harvey Woodproducts Australia Pty Ltd v Commonwealth (2019) 368 ALR 390 (trustees right of indemnity).
• Smethurst v Commissioner of Police  HCA 14 (mandatory injunction, adequacy of damages).
• Australian Securities and Investments Commission v Kobelt (2019) 368 ALR 1 (unconscionable dealing).
This new edition remains an ideal book for undergraduate study, covering all aspects of equity and trusts jurisprudence in an accessible, comprehensive, and up-to-date style. Moreover, as a reviewer of the fifth edition observed: “its accessible and structured framework will prove just as useful for practitioners seeking a summary of the state of the law across the vast array of topics that together constitute equitable jurisdiction” (Australian Banking and Finance Law Bulletin, February 2017).
Foreword by The Hon Geoffrey Nettle
Table of Cases
Table of Statutes
Part I – The Nature of Equity
The Nature of Equity
The Origin of the Equity Jurisdiction
The Relationship between Common Law and Equity
Part II – Equitable Principles
Equitable Proprietary Interests
Characterisation of Equitable Proprietary Interests
Equitable Priority Rules
The Protection of Confidential Information
Fraud in Equity
Mistake in Equity
Part III – Equitable Relief
The Nature of Equitable Remedies
Injunctions, Mareva Orders and Anton Piller Orders
Pecuniary Relief in Equity
Rescission, Rectification, Receivers and Equitable Defences
Part IV – Trusts
What is a Trust?
A Comparison between Trusts and Other Legal Relationships
Creating a Trust: The Certainty Rules
Creating a Trust: Formalities, and Consequences of a Failure to Comply with Them
Complete Constitution of Express Trusts
Trusts and Testamentary Dispositions: Secret Trusts and Mutual Wills
Trustee and Beneficiary Rights
Variation of Trust
Trusts for Charitable Purposes
Because of her acknowledged scholarship and considerable teaching experience, the author well knows how to effectively convey this subject to students, eg, the particularly attractive treatment of coherence between law and equity. The book is also valuable for busy practitioners. It concentrates on central issues with wide coverage. It often summarises particular cases at length rather than stating multiple points. The reader learns principles rather than every minor point, assisted by examples of propositions applied to factual scenarios.
Philip Barton, InPrint, Law Institute Journal Victoria, August 2017
Much has happened since I undertook a review of the 4th edn of this work in 2009. There have been significant developments especially in areas such as the doctrine of penalties, charitable trusts and constructive trusts.
The present edition provides a current analysis of the prevailing equitable doctrines and remedies.
While it is pitched at students, its accessible and structured framework will prove just as useful for practitioners seeking a summary of the state of the law across the vast array of topics that together constitute equitable jurisdiction. …
As Nettle J of the High Court of Australia notes in the foreword, the work “manages to retain the conciseness and ready comprehensibility that, from the work’s inception, have marked it out as one of the most approachable student texts on the subject”.
It is a welcome addition to the body of works on equitable principles and trusts law.
Anthony Lo Surdo, Australian Banking and Finance Law Bulletin, February 2017
There are many texts on equity and trusts in the market. Some better than others. This is in the former category. A major difficulty with many texts on trusts and equity is the tendency to misuse legal history to overcomplicate modern principles; that is by treating 18th or 19th century authorities as carrying the same, if not greater weight, than more modern decisions. Professor Hepburn uses the historical development of equity and trusts in the correct manner; that is to give shape and content to existing principle rather than set it up as some hitherto undiscovered doctrine which is inconsistent with modern pronouncements. As Justice Nettle says in the foreword to this work:
“Competence in equity requires an informed understanding of its origins and its consequent ethical quality, the subsequent course of its historical development and, resultantly, the extent of its capacity for flexibility.”
The work of Professor Hepburn contains a readily comprehensible discussion of the historical origins of equitable doctrine and its relationship to the common law. This provides a useful background for the following discussion of the modern principles. The discussion of modern principle in this book is detailed (with “pin-point” referencing to all of the important modern authorities) and extremely well referenced and, yet, explained in relatively uncomplicated style. No doubt this latter aspect arises from the fact that Professor Hepburn is an outstanding teacher and has honed her unique ability to convey complex principles in an orderly and understandable manner.
This work is extremely useful for law student and practitioner alike.
Queensland Law Reporter – 27 January 2017 –  03 QLR