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trustee

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advancement

advancement  

Reference type:
Overview Page
Subject:
Law
Improvement in one's position in the world; an advantage in life. Advancement occurs in two main legal contexts.(1) Where a purchaser pays for property (e.g. real estate or shares) ...
bank trust department

bank trust department  

Reference type:
Overview Page
(Banking; USA).The agency services part of a bank acting as trustee for bond issues, pension and profit-sharing plans, transfer agent, and other activities.
bankruptcy

bankruptcy  

Reference type:
Overview Page
Subject:
Law
N.The state of a person who has been adjudged by a court to be insolvent. The court orders the compulsory administration of a bankrupt's affairs so that his assets can be fairly distributed among his ...
bankruptcy order

bankruptcy order  

Reference type:
Overview Page
Subject:
Law
A court order that makes a debtor bankrupt. When the order is made, ownership of all the debtor's property is transferred either to a court officer known as the official receiver or to a trustee ...
bare trust

bare trust  

Reference type:
Overview Page
Subject:
Law
A trust in which the trustee has no active duty to perform, apart from transferring the property to the beneficiaries when required to do so. Cf special trust.
beneficial owner

beneficial owner  

Reference type:
Overview Page
Subject:
Law
An owner who is entitled to the possession and use of land or its income for his own benefit. Under the Law of Property Act 1925 a person who for valuable consideration conveys land as beneficial ...
beneficiary

beneficiary  

Reference type:
Overview Page
Subject:
Law
N.1 A person entitled to benefit from a trust. The beneficiary holds a beneficial interest in the property of which a trustee holds the legal interest. A beneficiary was formerly known as the cestui ...
blind trust

blind trust  

Reference type:
Overview Page
Subject:
Law
A trust that administers the private financial affairs of a person in public office without informing him or her of the transactions entered into, so that there can be no conflict of interest. See ...
breach of trust

breach of trust  

Reference type:
Overview Page
Subject:
Law
Any improper act or omission by a trustee or other person in a fiduciary position contrary to the duties imposed upon him by the terms of the trust. A breach need not be deliberate or dishonest. In ...
Charity Commission

Charity Commission  

Reference type:
Overview Page
Subject:
Law
The government department that acts as both an adviser to, and an investigator of, charities. It is responsible to the Home Secretary and is governed by the Charities Act 1993.
club

club  

The decades after the Restoration saw a proliferation of clubs and societies in London and the main provincial cities, many of them meeting in taverns or coffee‐houses. Though the most famous club, ...
commercial bank

commercial bank  

Reference type:
Overview Page
A bank dealing with the general public, accepting deposits from and making loans to large numbers of households and small firms. Such banks are known in the UK as retail or high street banks. They ...
commissioned bank

commissioned bank  

Reference type:
Overview Page
(Japan).A bank that is a party to a securities issue with some of the duties and functions of a trustee.
constructive fraud

constructive fraud  

Reference type:
Overview Page
Subject:
Law
Any of certain forms of unintentional deception or misrepresentation (compare fraud). The concept is applied by equity to those cases in which the courts will not enforce or will set aside certain ...
constructive trust

constructive trust  

Reference type:
Overview Page
Subject:
Law
A trust that arises by operation of the law. It is a form of implied trust and is exempt from compliance with formalities by section 53(2) of the Law of Property Act 1925. There are two recognized ...
custodian

custodian  

Reference type:
Overview Page
A person who holds securities on behalf of their owner.
deed of arrangement

deed of arrangement  

Reference type:
Overview Page
Subject:
Law
A written agreement between a debtor and his or her creditors that has been registered as such with the Insolvency Service. The agreement may take the form of a composition of debts or a scheme of ...
defeasance

defeasance  

Reference type:
Overview Page
The act of a bond issuer in which assets are placed with a trustee, who makes use of them to pay interest on the bond and eventually to repay the capital.
fidelity

fidelity  

Reference type:
Overview Page
Subject:
Law
Faithfulness in one's loyal adherence to the duty with which one is entrusted. The origin of the term is Latin fides, trust, belief (also seen in bona fides, good faith) ...
fiduciary

fiduciary  

Reference type:
Overview Page
Subject:
Law
[from Latin: fiducia, trust]1 n. A person, such as a trustee, who holds a position of trust or confidence with respect to someone else and who is therefore obliged to act solely for that person's ...

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