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Trust is the belief that another person will do what is expected. 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.
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 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.
The property is held in "constructive trust" for the harmed party, obliging the defendant to look after it. The main factors that lead to a constructive trust are unconscionable dealings with property, profits from unlawful acts, and unauthorised profits by a fiduciary. Where the owner of a property deals with it in a way that denies or impedes ...
In trust law, a spendthrift trust is a trust that is created for the benefit of a person (often unable to control his/her spending) that gives an independent trustee full authority to make decisions as to how the trust funds may be spent for the benefit of the beneficiary.
Chart of a trust. Trustees [2] have certain duties (some of which are fiduciary). These include the duty to: Carry out the expressed terms of the trust instrument. [3] Trustees are bound to act in accordance with the terms of the trusts upon which the trustee holds trust property, and commit a breach of trust by departing from the terms of the ...
Trust has focal meaning for the success of every transaction. It stimulates the human activities. In countries with trust culture there is higher social well-being and economic growth. [4] In distrust culture those who trust in others are believed to be naive and simple-minded and they are the victims of unfair transactions.
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. [4] Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the Commonwealth and the United States.