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(p. 45) 3. The Essentials of a Trust 

(p. 45) 3. The Essentials of a Trust
Chapter:
(p. 45) 3. The Essentials of a Trust
Author(s):

Philip H Pettit

DOI:
10.1093/he/9780199694952.003.0003
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date: 22 February 2020

This chapter examines the essential elements of a trust, explaining that a trust is not valid unless its creator has the power to create it and the beneficiary has the ability to accept, and discusses the principle of the capacity of the settlor and beneficiaries. It discusses the three ‘certainties’ required of a trust, which include certainty of words, certainty of subject, and certainty of objects, and also considers the concept of beneficiary principle and explores the problems associated with trusts for unincorporated associations that have no legal personality.

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