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Honorary Trust
An honorary trust, under the law of trusts, is a device by which a person establishes a trust for which there is neither a charitable purpose, nor a private beneficiary to enforce the trust. While such a trust would normally be void for lack of a beneficiary, many jurisdictions have carved out two specific exceptions to this rule: trusts for the care of that person's pets; and trusts to provide for the maintenance of cemetery plots. Generally, rules require these elements or factors: "they cannot exist beyond the period of the rule against perpetuities, and their amounts cannot be unreasonably large for the purpose to be accomplished .. nd thepurpose must also be that of a reasonably normal testator and cannot be capricious." In some jurisdictions, a trust for the saying of masses may be allowed. The name of the device derives from the lack of any beneficiary legally capable of enforcing an honorary trust: the trustee is bound by honor, but not by law, to carry out the w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trust (property)
A trust is a legal relationship in which the owner of property, or any transferable right, gives it to another to manage and use solely for the benefit of a designated person. In the English common law, the party who entrusts the property is known as the " settlor", the party to whom it is entrusted is known as the " trustee", the party for whose benefit the property is entrusted is known as the " beneficiary", and the entrusted property is known as the "corpus" or "trust property". A '' testamentary trust'' is an irrevocable trust established and funded pursuant to the terms of a deceased person's will. An inter vivos trust is a trust created during the settlor's life. The trustee is the legal owner of the assets held in trust on behalf of the trust and its beneficiaries. The beneficiaries are equitable owners of the trust property. Trustees have a fiduciary duty to manage the trust for the benefit of the equitable owners. Trustees must provide regular accountings of trust i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Beneficiary (trust)
In trust law, a beneficiary (also known by the Law French terms and trust), is the person or persons who are entitled to the benefit of any trust arrangement. A beneficiary will normally be a natural person, but it is perfectly possible to have a company (law), company as the beneficiary of a trust, and this often happens in sophisticated commercial transaction structures. With the exception of charitable trusts, and some specific anomalous purpose trust, non-charitable purpose trusts, all trusts are required to have ascertainable beneficiaries. Generally speaking, there are no strictures as to who may be a beneficiary of a trust; a beneficiary can be a minor, or under a mental disability (in fact many trusts are created specifically for persons with those legal disadvantages). It is also possible to have trusts for unborn children, although the trusts must Vesting, vest within the applicable perpetuity period. Categorization There are various ways in which beneficiaries of tru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Void (law)
In law, void means of no legal effect. An action, document, or transaction which is void is of no legal effect whatsoever: an absolute nullity—the law treats it as if it had never existed or happened. The term void ''ab initio'', which means "to be treated as invalid from the outset", comes from adding the Latin phrase ''ab initio'' (from the beginning) as a qualifier. For example, in many jurisdictions where a person signs a contract under duress, that contract is treated as being void ''ab initio''. The frequent combination "null and void" is a legal doublet. The term is frequently used in contradistinction to the term "voidable" and " unenforceable". Definitions '' Black's Law Dictionary'' defines 'void' as " ll; ineffectual; nugatory; having no legal force or binding effect...." In the case of a contract, this means there is no legal obligation, therefore there can be no breach of contract since the contract is null, but there may be an implied contract A quasi-contr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cemetery
A cemetery, burial ground, gravesite, graveyard, or a green space called a memorial park or memorial garden, is a place where the remains of many death, dead people are burial, buried or otherwise entombed. The word ''cemetery'' (from Greek language, Greek ) implies that the land is specifically designated as a burial ground and originally applied to the Ancient Rome, Roman catacombs. The term ''graveyard'' is often used interchangeably with cemetery, but a graveyard primarily refers to a burial ground within a churchyard. The intact or cremated remains of people may be interred in a grave, commonly referred to as burial, or in a tomb, an "above-ground grave" (resembling a sarcophagus), a mausoleum, a columbarium, a niche, or another edifice. In Western world, Western cultures, funeral ceremonies are often observed in cemeteries. These ceremonies or rites of passage differ according to culture, cultural practices and religion, religious beliefs. Modern cemeteries often inclu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rule Against Perpetuities
The rule against perpetuities is a legal rule in common law that prevents people from using legal instruments (usually a deed or a will) to exert control over the ownership of private property for a time long beyond the lives of people living at the time the instrument was written. Specifically, the rule forbids a person from creating future interests (traditionally contingent remainders and executory interests) in property that would vest beyond 21 years after the lifetimes of those living at the time of creation of the interest, often expressed as a "life in being plus twenty-one years". In essence, the rule prevents a person from putting qualifications and criteria in a deed or a will that would continue to affect the ownership of property long after he or she has died, a concept often referred to as control by the "dead hand" or "'' mortmain''". The basic elements of the rule against perpetuities originated in England in the 17th century and were "crystallized" into a sin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reasonable Person
In law, a reasonable person or reasonable man is a hypothetical person whose character and care conduct, under any ''common set of facts,'' is decided through reasoning of good practice or policy. It is a legal fiction crafted by the courts and communicated through case law and jury instructions. In some practices, for circumstances arising from an ''uncommon set of facts,'' this person represents a composite of a relevant community's judgement as to how a typical member of that community should behave in situations that might pose a threat of harm (through action or inaction) to the public. The reasonable person is used as a tool to standardize, teach law students, or explain the law to a jury. The reasonable person belongs to a family of hypothetical figures in law including: the "right-thinking member of society", the "officious bystander", the "reasonable parent", the "reasonable landlord", the "fair-minded and informed observer", the "person having ordinary skill in the ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbitrary And Capricious
In law, the standard of review is the amount of deference given by one court (or some other appellate tribunal) in reviewing a decision of a lower court or tribunal. A low standard of review means that the decision under review will be varied or overturned if the reviewing court considers there is any error at all in the lower court's decision. A high standard of review means that deference is accorded to the decision under review, so that it will not be disturbed just because the reviewing court might have decided the matter differently; it will be varied only if the higher court considers the decision to have obvious error. The standard of review may be set by statute or precedent (stare decisis). In the United States, "standard of review" also has a separate meaning concerning the level of deference the judiciary gives to Congress when ruling on the constitutionality of legislation. United States In the United States, the term "standard of review" has several different meanings ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saying Of Masses
A saying is any concise expression that is especially memorable because of its meaning or style. A saying often shows a wisdom or cultural standard, having different meanings than just the words themselves. Sayings are categorized as follows: * Aphorism: a general, observational truth; "a pithy expression of wisdom or truth". ** Proverb, adage or saw: a widely known or popular aphorism that has gained credibility by long use or tradition. ** Apothegm/Apophthegm: "an edgy, more cynical aphorism; such as, 'Men are generally more careful of the breed of their horses and dogs than of their children.'" * Axiom: a proposition that commends itself to general acceptance; a well-established or universally conceded principle; a maxim, rule, or law.''Oxford English Dictionary'' Online, accessed 2012-04-28 * Cliché or bromide: an unoriginal and overused saying. ** Platitude: a cliché that is unsuccessfully presented as though it were meaningful, original, or effective. * Epigram: a clever ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trustee
Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, refers to anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility for the benefit of another. A trustee can also be a person who is allowed to do certain tasks but not able to gain income.''Black's Law Dictionary, Fifth Edition'' (1979), p. 1357, . Although in the strictest sense of the term a trustee is the holder of property on behalf of a beneficiary, the more expansive sense encompasses persons who serve, for example, on the board of trustees of an institution that operates for a charity, for the benefit of the general public, or a person in the local government. A trust can be set up either to benefit particular persons or for any charitable purposes (but not generally for non-charitable purposes): typical examples are a will trust for the testator's children and family, a pension trust (to confer bene ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Honor
Honour ( Commonwealth English) or honor (American English; see spelling differences) is a quality of a person that is of both social teaching and personal ethos, that manifests itself as a code of conduct, and has various elements such as valour, chivalry, honesty, and compassion. It is an abstract concept entailing a perceived quality of worthiness and respectability that affects both the social standing and the self-evaluation of an individual or of institutions such as a family, school, regiment, or nation. Accordingly, individuals (or institutions) are assigned worth and stature based on the harmony of their actions with a specific code of honour, and with the moral code of the society at large. Samuel Johnson, in his '' A Dictionary of the English Language'' (1755), defined honour as having several senses, the first of which was "nobility of soul, magnanimity, and a scorn of meanness". This sort of honour derives from the perceived virtuous conduct and personal integr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Colorado
Colorado is a U.S. state, state in the Western United States. It is one of the Mountain states, sharing the Four Corners region with Arizona, New Mexico, and Utah. It is also bordered by Wyoming to the north, Nebraska to the northeast, Kansas to the east, and Oklahoma to the southeast. Colorado is noted for its landscape of mountains, forests, High Plains (United States), high plains, mesas, canyons, plateaus, rivers, and desert lands. It encompasses most of the Southern Rocky Mountains, as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains. Colorado is the List of U.S. states and territories by area, eighth-largest U.S. state by area and the List of U.S. states and territories by population, 21st by population. The United States Census Bureau estimated the population of Colorado to be 5,957,493 as of July 1, 2024, a 3.2% increase from the 2020 United States census. The region has been inhabited by Native Americans in the United St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
