Catchwords:

EQUITY – trusts and trustees – mutual wills –memorandum of wishes – agreement that surviving spouse would leave property or proceeds of sale to sons of testator – power to expend proceeds for own needs – nature of trust arising at time of testator’s death – floating obligation that crystallises on repudiation of agreement

REAL PROPERTY – caveats – property acquired under will – owner subject to equitable obligation to leave property in accordance with agreement with testator – power to sell and expend proceeds of sale – whether the intended beneficiary under the agreement has a caveatable interest in the land