…. In what follows, Pt II of this article considers the basic case law establishing the axiomatic principle of the law of trusts – that a trust must be performed. Next, in Pt III, the article briefly sketches the most important mechanisms through which the law of trusts secures performance of the trust in cases where the current trustees are not voluntarily performing it. Part IV of the article briefly outlines various structural features of trusts which reflect, and are a consequence of, the basic axiom that a trust must be performed. In Pt V, the article considers remedies for breach of trust which all manifest the concern of trust law with performance rather than compensation in lieu of performance. Part VI develops one of the key points to be made in this article: that the law of trusts is significantly and fundamentally different from the law of contract in its concerns and its structure. Finally, Pt VII sets out the implications, both theoretical and practical, of these important distinctions between the law of trusts and the law of contract.
Lusina Ho and Richard C Nolan, ‘The performance interest in the law of trusts’ (2020) 136 Law Quarterly Review (July) 402.