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In social sciences and in information technology, trustor (alt. truster in e.g. [1]) is an entity that trusts the other entity (the trustee). Trustor may be a social agent (such as a person or an institution) or a technical agent (such as a computer or a software application), acting on behalf of a social agent.
It brings with it a willingness for one party (the trustor) to become vulnerable to another party (the trustee), on the presumption that the trustee will act in ways that benefit the trustor. [ 1 ] [ 2 ] [ 3 ] In addition, the trustor does not have control over the actions of the trustee. [ 1 ]
Raymond Edward Brown PSS (May 22, 1928 – August 8, 1998) was an American Sulpician priest and prominent biblical scholar. He was a specialist on the hypothetical Johannine community , which he speculated contributed to the authorship of the Gospel of John , and he also wrote studies on the birth and death of Jesus .
However, a trustee may act otherwise than in accordance with the terms of the trust if all beneficiaries, being sui juris and together absolutely entitled, direct the trustee to do so (or so consent). If any question arises as to the constriction of the provisions of the trust, the trustee must approach the court for determination of the question.
Trustor may refer to: Trustor (trust law) , a person who settles property on express trust for the benefit of beneficiaries Trustor (agent) , an entity that trusts another entity
A nominee trust is a legal arrangement whereby a person, termed the settlor, appoints another person, termed the "nominee" or "trustee", to be the owner of the legal title to some property. [1] Although the legal title is transferred to the nominee, the beneficial ownership of the property is transferred to a third person, termed the beneficiary .
In South Africa, in addition to the traditional living trusts and will trusts there is a "bewind trust" (inherited from the Roman-Dutch bewind administered by a bewindhebber) [51] in which the beneficiaries own the trust assets while the trustee administers the trust, although this is regarded by modern Dutch law as not actually a trust. [52]