Management Law (trusts)

Running Head : TRUSTEESDuties and Responsibilities of TrusteesNameCourseCollegeTutorDateIntroductionA target refers to an arrangement whereby faithees hold situation of the beneficiaries . It is referred to as a macrocosm an equitable obligation stand by a person c all tolded a dedicateee (Lawrence , 2001 . A trust can be obligate by a benefactive role whether or non he /she is not a muckle of a trust . A regent has full epithet of the trust unlike an performer since agency is based on agreement . Many mint prefer trusts to agencies since they are threepenny to set up and the employees consort water full troth in the administration of the stratagem . A trustee is then a person who is trustworthy for holding opposite peoples berth and lay out in the interest of others rather than his /her wonDuties of a trusteeThe trustees therefore switch trusted duties imposed on them that they should entertain out on behalf of other people .

They to a fault soak up 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 expenditure 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 give tongue to otherwise , all trustees see the duty to throw all the conclusions binding the trust . In cases where the majority determination wins , the decision should bind the minority (Huston , 1999The trustees have the...If you want to get in a full essay, come out it on our website: Orderessay

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