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In trust law, an express trust is a trust created "in express terms, and usually in writing, as distinguished from one inferred by the law from the conduct or dealings of the parties." [ 1 ] Property is transferred by a person (called a trustor, settlor , or grantor) to a transferee (called the trustee ), who holds the property for the benefit ...
However, an express trust may still be exempted from the requirements of 53(1)(a) and 53(1)(b) by a separate application of the equitable maxim "equity will not allow a statute to be used as a cloak for fraud" – the fraud would be for the trustee to deny the existence of the secret trust, but this time the statute concerned would be the Law ...
The creation of express trusts in English law must involve four elements for the trust to be valid: capacity, certainty, constitution and formality. Capacity refers to the settlor's ability to create a trust in the first place; generally speaking, anyone capable of holding property can create a trust. There are exceptions for statutory bodies ...
A Quistclose trust is a method by which a creditor can hold a security interest in loans, through inserting a clause into the contract which limits the purposes for which the borrower can use the money. If the funds are used for a different purpose, a trust is created around the money for the benefit of the moneylender.
Psychology Today is an American media organization with a focus on psychology and human behavior. The publication began as a bimonthly magazine, which first appeared in 1967. The print magazine's reported circulation is 275,000 as of 2023. [ 2 ]
The name resulting trust comes from the Latin resultare, meaning to spring back.It was defined in Re Sick and Funeral Society of St John's Sunday School, Golcar, [2] where Megarry VC stated that "A resulting trust is essentially a property concept; any property that a man does not effectually dispose of remains his own". [1]
Distrust is a formal way of not trusting any one party too much in a situation of grave risk or deep doubt.It is commonly expressed in civics as a division or balance of powers, or in politics as means of validating treaty terms.
Misplaced loyalty (or mistaken loyalty, misguided loyalty or misplaced trust) is loyalty placed in other persons or organisations where that loyalty is not acknowledged, is not respected, is betrayed, or is taken advantage of. It can also mean loyalty to a malignant or misguided cause.