Description
TRUSTS: Where Fraud is seemingly permissible by the courts, government, and public servants/trustees.
TRUST. – In General
A right of property, real or personal, held by one party for the benefit of another. See Good- win v. McMinn, 193 Pa. 646, 44 A. 1094, 74 Am.St. Rep. 703; Boyce v. Mosely, 102 S.C. 361, 86 S.E. 771, 773; King v. Richardson, C.C.A.N.C., 136 F.2d 849, 856, 857. A confidence reposed in one person, who is termed trustee, for the benefit of another, who is called the cestui que trust, respecting property which is held by the trustee for the benefit of the cestui que trust. State ex rel. Wirt v. Superior Court for Spokane County, 10 Wash.2d 362, 116 P.2d 752, 755. Any arrangement whereby property is transferred with intention that it be administered by trustee for another’s benefit. Raffo v. Foltz, 106 Cal.App. 51, 288 P. 884, 886.
Cestui que trust: The person for whose benefit a trust is created or who is to enjoy the income or the avails of it.
Executory trust: One which requires the execution of some further instrument, or the doing of some further act, on the part of the creator of the trust or of the trustee, towards its complete creation or full effect. Martling v. Martling, 55 N.J.Eq. 771, 39 A. 203; Carradine v. Carradine, 33 Miss. 729; In re Fair’s Estate, 132 Cal. 523, 60 P. 442, 84 Am.St.Rep. 70; Pillot v. Landon, 46 N. J.Eq. 310, 19 A. 25.
Constructive trust: A trust raised by construction of law, or arising by operation of law, as distinguished from an express trust. Wherever the circumstances of a transaction are such that the person who takes the