Ads
related to: us trust law
Search results
Results From The WOW.Com Content Network
United States trust law is the body of law that regulates the legal instrument for holding wealth known as a trust. Most of the law regulating the creation and administration of trusts in the United States is now statutory at the state level.
The increased use of trusts in estate planning during the latter half of the 20th century highlighted inconsistencies in how trust law was governed across the United States. In 1993, recognizing the need for a more uniform approach, the Uniform Law Commission (ULC) appointed a study committee chaired by Justice Maurice Hartnett of the Delaware ...
While trusts originated in England, and therefore English trusts law has had a significant influence, particularly among common law legal systems such as those of the Commonwealth or the United States, the impact of trust law has been wide and varied. Even under common law systems, the basic notion of a trust has been implemented in strikingly ...
The law of trusts was constructed as a part of "Equity", a body of principles that arose in the Courts of Chancery, which sought to correct the strictness of the common law. 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 ...
Harvard College v. Amory 26 Mass (9 Pick) 446 (1830) [1] is a US trusts law case, which repeated the famous formulation of the "prudent man rule", that people in charge of other people's money must exercise due care and skill, and look after the money as if it were their own.
The term trust is often used in a historical sense to refer to monopolies or near-monopolies in the United States during the Second Industrial Revolution in the 19th century and early 20th century. The use of corporate trusts during this period is the historical reason for the name "antitrust law".