While equity as a system of law was established upon good conscience and judicial discretion, the trust has evolved beyond the confines of these ambiguous principles. It is essential that there be sufficient certainty demonstrated by the settlor before a trust can be found in England & Wales. This applies to both express and implied trusts, which are both of equal importance in the modern law of equity.’
Critically analyse this statement.
Whereas equity is a body of laws that were developed in the English court of chancery and which is now concurrently with the common law, trust law is the branch of law that regulates a three party fiduciary