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In the broader sense of the term, relating to trust law, a trust is a legal arrangement based on principles developed and recognised over centuries in English law, specifically in equity, by which one party conveys legal possession and title of certain property to a second party, called a trustee. The trustee holds the property, while any ...
The trust was an addition to the law of property, in the situation where one person held legal title to property but the courts decided it was fair just or "equitable" that this person be compelled to use it for the benefit of another. This recognised as a split between legal and beneficial ownership: the legal owner was referred to as a ...
Meaning a loss that results from no one's wrongdoing. In Roman law, a person is not responsible for unintended, consequential injury to another that results from a lawful act. This protection does not necessarily apply to unintended damage caused by one's negligence or folly. dat deus incrementum, or, deus dat incrementum: God gives growth
Irrevocable trust: In contrast to a revocable trust, an irrevocable trust is one in which the terms of the trust cannot be amended or revised until the terms or purposes of the trust have been completed. Although in rare cases, a court may change the terms of the trust due to unexpected changes in circumstances that make the trust uneconomical ...
English law, unlike that of some offshore tax havens and of the United States, requires that a trust have at least one beneficiary unless it is a "charitable trust". The Charity Commission monitors how charity trustees perform their duties, and ensures that charities serve the public interest.
Trust metric, a measurement of the degree to which group members trust each other, as in online networking Trusted system , a computerized system relied on to enforce a security policy Web of trust , a system used in cryptography to establish authenticity
The term "grantor trust" also has a special meaning in tax law. A grantor trust is defined under the Internal Revenue Code as one in which the federal income tax consequences of the trust's investment activities are entirely the responsibility of the grantor or another individual who has unfettered power to take out all the assets. [20]
The Taking of Christ by Caravaggio (c.1602) shows Judas betraying Jesus.. Betrayal is the breaking or violation of a presumptive contract, trust, or confidence that produces moral and psychological conflict within a relationship amongst individuals, between organizations or between individuals and organizations.