Creation-express trusts-trust laws and accounts, Financial Accounting

Assignment Help:

Creation

An express trust is "created not by facts and circumstances, but by the express words of the settlor". (Fitzgerald v Stewart)

It may be created in the following ways:

1) A declaration of trust by the settlor whereby he makes himself the trustee of property for the benefit of some person; or

2) The transfer by the settlor of the ownership of the trust property to trustees, and the communication to the trustees of the terms upon which they are to hold that property; or

3) By will.


Related Discussions:- Creation-express trusts-trust laws and accounts

Calculate the net present value for an investment project, Calculate the ne...

Calculate the net present value for an investment project with the following cash flows using a 12 percent cost of capital:     Year                    0                      1

Company conversion features-partnership, Company conversion features If...

Company conversion features If the formation costs are to be bourne by the company then the profit or loss on realization will be the same as the company then the new company (

Report to stockholders of a company, Q. Report to stockholders of a company...

Q. Report to stockholders of a company? Annual Report - Report to stockholders of a company that includes company's annual,audited BALANCE SHEET and related statements of earni

International financial reporting standards and gaap, Alta Velocidad Espera...

Alta Velocidad Esperanza de L'Argentina, Sociedad Anónima (AVE), a high-speed railway operator domiciled in Rio Norte, Argentina, is a Foreign Private Issuer as defined by the U.S.

What do you eman by lease, Q. What do you eman by Lease? Lease - Convey...

Q. What do you eman by Lease? Lease - Conveyance of buildings orland, equipment or other ASSETS from one person (LESSOR) to another (LESSEE) for a specific period of time for m

The matching rule is applied ?, The matching rule is applied a. because it ...

The matching rule is applied a. because it is required by the Internal revenue Code b. by expensing certain items immediately and in their entirety c. to help make the bookkeeper's

What role does accounting play in the planning, What role does accounting p...

What role does accounting play in the planning, implementation, analysis of CSR in particular and organizational strategies in general?

Trial balance, methods of preparation of trial balance

methods of preparation of trial balance

Journalize the foregoing transactions and post to the a/c, During the fourt...

During the fourth quarter of 2006, Cablevision, Inc., generated excess cash, which the company invested in securities, as follows: On Nov. 12 purchased 1,000 shares of common st

Condition of joint return, Surviving Spouse - This is a person whose wife o...

Surviving Spouse - This is a person whose wife or husband died during tax year. A surviving spouse can file a JOINT RETURN for the year in which death occurred. Additionally a join

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd