Trusts for Business Purposes (Classic Reprint)

In all probability no part of our law is so well settled as that in reference to trusts and trustees; a rule on this subject laid down in one section of the country is usually adopted and applied in another. The reason for this is readily found in that the principles underl)ring the trust are the same throughout the country irrespective of state lines. This of course is not true of the corporation, for each state has its own acts and no state is bound by the interpretation of the corporate law of a sister state. The trust as a business organization n:iay easily be investigated under: First: The source of its rights and its status in the law. Second: The relation of trustee and beneficiary, and the rights and duties of each, and Third: The effect of legislation on the trust. In this connection it is of interest to note that the trust may engage and do all things which an individual may do; and so far the only restriction sought to be placed on the individual is in banking and in.surance. In the preparation of this work, reports were examined and not reference works, and where possible the language of the decision is used, with the thought in mind that the busy lawyer is more interested in the law expressed by the court than the deductions of a law writer.
(Typographical errors above are due to OCR software and don't occur in the book.)

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