| 释义 |
trust
n. 1. An arrangement in which a settlor transfers property to one or more trustees, who will hold it for the benefit of one or more persons (the beneficiaries or cestuis que trust, who may include the trustee(s) or the settlor) who are entitled to enforce the trust, if necessary by action in court. The trust, recognized originally in Chancery, is based on confidence and developed from the use; it has been described as the most important contribution of equity to English jurisprudence. The beneficiary has rights against the trustee and may also have rights over the property in the hands of others (see tracing). When a sole beneficiary is 18 or over, of sound mind, and entitled to all the trust property, he may require the trustees to transfer that property to him; this applies equally when all the beneficiaries are 18 or over, of sound mind, acting together, and likewise entitled. For a trust to exist, the three certainties must be present (Knight v Knight (1840) 3 Beav 148 (HL)): these are certainty of intention (i.e. to create a trust), certainty of subject matter (the property in the trust), and certainty of objects (those who will or may benefit under the trust). Declarations of trust can be made orally except where land is concerned, in which case compliance with section 53 (1)(b) of the Law of Property Act 1925 is necessary. Express trusts are, however, usually found in professionally drafted documents. Trusts are sometimes used to protect an individual’s (or company’s) ownership of property, when it is feared that the possessor of the property may become insolvent. However, where the sole purpose of a trust is to put property beyond the reach of creditors, the trust may fail for lack of genuine intention to create a trust (Midland Bank v Wyatt [1995] 1 FLR 697). See also active trust; charitable trust; discretionary trust; executed trust; express trust; implied trust; protective trust; secret trust; statutory trust. 2. (in the National Health Service) See NHS Trust; Primary Care Trust. |