Austin Wakeman Scott (1886–1981) was a professor of law at Harvard University who wrote a ten-volume treatise covering many topics of personal trusts such as the formation and termination of express trusts, resulting and constructive trusts, and the conflicts of interest encountered in the administration of trusts. Many of Professor Scott's dictums for fiduciaries have been incorporated in the Uniform Prudent Investor Act (UPIA).
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“Certainly, then, ordinary language is not the last word: in
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