Management Law (trusts)

Running Head : TRUSTEESDuties and Responsibilities of TrusteesNameCourseCollegeTutorDateIntroductionA send refers to an arrangement whereby faithees hold blank space of the beneficiaries . It is referred to as a being an equitable obligation pose a person called a depositee (Lawrence , 2001 . A trust can be enforced by a donee whether or not he /she is not a percentage of a trust . A trustee has full epithet of the trust unlike an agent since agency is based on agreement . Many people prefer trusts to agencies since they are twopenny to set up and the employees pass water full fellowship in the administration of the scheme . A trustee is then a person who is responsible for holding other peoples berth and lay out in the interest of others rather than his /her wonDuties of a trusteeThe trustees therefore crap certai n duties imposed on them that they should sway out on behalf of other people .

They also fall in restrictions that govern them on what to do . One of these duties is kn feature as fiduciary duties . This transaction states that a trustee should not physical exertion the trust for his /her own benefits . It also gives the trustee duty not to delegate the trust . The trustee has the duty to act unanimously . Unless the trust transaction has stated otherwise , all trustees clear the duty to throw all the conclusions binding the trust . In cases where the majority decision wins , the decision should bind the minority (Huston , 1999The tr ustees have the...If you want to get in a f! ull essay, come in it on our website: BestEssayCheap.com

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