Express Trust
Where property is passed from an owner to a person an implied express trust, but no gift is made by the owner to that person, it is therefore held for the owner by the person, and this is the Resulting trust; where property should for some reason of public policy or rule of Equity be held by a person for someone other than the legal owner, this is either the Statutory trust or the Constructive trust; but where legal title to property is held by someone 'on trust', this is the Express trust.
Read more about Express Trust: Terms, Common Forms of Express Trust, Forms of Trust Used By UK Taxpayers, Forms of Trust Used By US Persons
Famous quotes containing the words express and/or trust:
“There can be no difference anywhere that doesn’t make a difference elsewhere—no difference in abstract truth that doesn’t express itself in a difference in concrete fact and in conduct consequent upon that fact, imposed on somebody, somehow, somewhere, and somewhen.”
—William James (1842–1910)
“A noble person confers no such gift as his whole confidence: none so exalts the giver and the receiver; it produces the truest gratitude. Perhaps it is only essential to friendship that some vital trust should have been reposed by the one in the other. I feel addressed and probed even to the remotest parts of my being when one nobly shows, even in trivial things, an implicit faith in me.... A threat or a curse may be forgotten, but this mild trust translates me.”
—Henry David Thoreau (1817–1862)