| 释义 |
covenant to settle
A promise by deed to settle property at some future date. Covenants to settle have often been used because it is not possible to create a trust of future property (Re Ellenborough [1903] 1 Ch 697). Enforcement of such covenants at common law used to be difficult because the would-be trustees suffer no loss and the would-be beneficiaries are usually not in privity of contract (Cannon v Hartley [1949] Ch 213). Enforcement is rarely possible in equity because “equity will not assist a volunteer”, and usually neither the intended trustee nor the intended beneficiary will have given consideration, although equity will accept marriage consideration (Pullan v Koe [1913] 1 Ch 9; Re Plumptre’s Marriage Settlement [1910] 1 Ch 609). For covenants made after 11 May 2000, the beneficiaries may be able to sue under the Contract (Rights of Third Parties) Act 1999. |