Creation-express trusts-trust laws and accounts, Financial Accounting

Creation

An express trust is "created not by facts and circumstances, but by the express words of the settlor". (Fitzgerald v Stewart)

It may be created in the following ways:

1) A declaration of trust by the settlor whereby he makes himself the trustee of property for the benefit of some person; or

2) The transfer by the settlor of the ownership of the trust property to trustees, and the communication to the trustees of the terms upon which they are to hold that property; or

3) By will.

Posted Date: 12/13/2012 5:44:48 AM | Location : United States







Related Discussions:- Creation-express trusts-trust laws and accounts, Assignment Help, Ask Question on Creation-express trusts-trust laws and accounts, Get Answer, Expert's Help, Creation-express trusts-trust laws and accounts Discussions

Write discussion on Creation-express trusts-trust laws and accounts
Your posts are moderated
Related Questions
Admission of a new partner When a new partner joins the firm/partnership, the new partner will enjoy the benefits arising as a result of goodwill created by the old existing pa

In May 2011, Your Company purchased the rights to a natural resource for $4,125,000. The estimated recoverable units from the natural resource amount to 5,500,000 units. During the

DUTIES OF TRUSTEES 1) Not to profit from the trust : A trustee may not receive remuneration except: By order of the court, if the trust is very onerous or the services of the

Write  the advantages and drawbacks of both the structured and object-oriented (OO) paradigm in programming. Describe the perceived preference of OO languages over the more structu

The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la

ACQUISITION OF A SUBSIDIARY COMPANY DURING THE YEAR When the holding company acquires a subsidiary company portray during the financial period, and then the approach to preparing

I am trying to prepare a statement of cash flows for my accounting class. My professor didn''t give me a sales price for the equipment that was sold. I have that it originally cost


How do I treat with Expenses Outstanding, for example, Marketing Expenses outstanding at year end is $1250. How do I adjust?. It is a note under the trial balance.

Suppose the interest rate for a one-period bond is 4% between the current period and the next. Then the rate becomes 5% for ever. (a) What is the price of an asset paying (1,1,1