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In this lesson, the focus is on express trusts, specifically their declaration. For an express trust to be properly declared, it must be articulated in words or writing, as emphasized in the case of Ray v. Vander Waal. It's crucial to note that the understanding of the declaration is based on the perspective of a reasonable bystander, rather than the speaker's intention. Additionally, several requirements must be met, including demonstrating that the settlor intended to create the trust, which involves confirming the settlor's desire to legally bind a third party as a trustee. The case of McCormick and Grogan is referenced to illustrate these principles.
