COMMON LAW TRUST IN LIGHT OF THE EQUITY MAXIMAS: HISTORICAL OVERVIEW
Journal Title: Юридичний науковий електронний журнал - Year 2018, Vol 2, Issue
Abstract
There is a general overview of the trust, as a unique institution of common law countries, conducted in this article. Trust concept has three key participants (settlor, trustee and beneficiary) and is set up in relation to certain property (trust-fund). Particular attention is paid to historical grounds of English law of equity - as a historical phenomenon to enrich common law and as a natural environment for the trust concept creation and development. This paper describes three ways of how common law be enriched by the law of equity (equity jurisdictions: new rights, new remedies and new procedures). In this context key maximas of equity are presented as well. The paper pays attention to different famous approaches as to notion of trust, trusts classification, and as to key areas to reach trust validity (three trust certainties: as to intention, as to subject matter and as to objects). As it is illustrated in this paper the huge variety of the trust concept examples may be found in English law. On the high level of the proposed classification we may face express trust, resulting trust, constructive trust and statutory trust, besides, trusts may be observed as private and public ones, as fixed and discretionary ones. Thus, we may observe rather strong challenges accompaining approaches of trust legislative regulation in civil law countries of two kinds as of private international law and as of international civil process.
Authors and Affiliations
Н. М. Перестюк
Keywords
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