When the original instructions for a trust cannot be followed precisely, the doctrine of approximation permits a court to modify the trust’s management to ensure its continuation and the fulfilment of the creator’s desires. This equitable doctrine of approximation is distinct from the cy pres doctrine.
The equitable doctrine of approximation enables a court to alter the management of a trust to preserve the trust and carry out the intentions of the trust’s creator. This doctrine is also referred to as the doctrine of approximation. For instance, if a trust was established to grant scholarships to students in a particular area of study that no longer exists, the court may utilise the doctrine of approximation to modify the trust so that it can still provide scholarships for a related area of study. Similarly, if a trust was created to aid a specific charity that no longer exists, the court may use the doctrine of approximation to identify a comparable charity to support instead.
The Doctrine of Approximation is a legal principle that allows for a reasonable estimation or approximation when exact calculation is not possible or practical.
The Doctrine of Approximation can be used in various legal contexts, such as contract law, tax law, and property law, when precise measurement or calculation is not feasible.
The acceptance of the Doctrine of Approximation depends on the specific circumstances of the case and the jurisdiction. It is important to consult with a legal professional to determine its applicability.
Yes, the Doctrine of Approximation can be used in contract disputes when there is uncertainty or difficulty in determining exact quantities or values.
The use of the Doctrine of Approximation may be limited by the terms of the contract or applicable laws. It is important to consider these limitations when applying the doctrine.
In tax law, the Doctrine of Approximation allows for reasonable estimates to be used when exact figures are not available, as long as the estimates are based on reliable information.
Yes, the Doctrine of Approximation can be used in property valuation when precise measurements or assessments are not possible.
When applying the Doctrine of Approximation, factors such as reasonableness, good faith, and the availability of reliable information are taken into account.
The use of the Doctrine of Approximation can be challenged in court if there are grounds to question the reasonableness or accuracy of the approximation.
A legal professional can provide guidance on when and how to apply the Doctrine of Approximation in legal matters, as well as assist in addressing any challenges or disputes related to its use.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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