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SECRET TRUSTSThe initial basis of the doctrine of secret trusts was the refusal of equity to permit a statute to be used as an engine of fraud (e.g. Bannister v Bannister). Certain formalities are necessary for the creation of inter vivos trusts of land for testamentary dispositions. A trust of land must be evidenced in writing; and all testamentary dispositions must comply with the Law of Succession Act. In the case of wills, secret trusts are of two types:
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Completely and incompletely constituted trusts In all cases the trust must be completely constituted. A trust is completely constituted when the trust property has been vested
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all types of assets
Limited Liability Company (LLC) - Form of doing business combining limited liability for all owners (known as members) with taxation as a PARTNERSHIP. An LLC is formed by filing AR
Omission to do something which a reasonable man, guided by those ordinary considerations that ordinarily regulate human affairs, would do or doing of something that a reasonable an
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