The Trust Concept Flashcards
(7 cards)
1
Q
A simple definition of a trust by Maitland
A
- a person has rights
- he is bound to excersise upon behalf of another
- or for the accomplishment of a purpose
- he is called a trustee
2
Q
Inter vivo trust
A
- trusts made during a lifetime
3
Q
Testamentary trust
A
- trusts that come into effect after death
4
Q
Settlor
A
- trust creator
5
Q
Beneficiary
A
Person the trust is held for
6
Q
A
7
Q
A
