Trusts – General Principles
BY: Richard E. Levinson, LL.B.
II: Trusts – General Principles
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A trust is an equitable obligation binding a person (who is called a trustee) to deal with property over which he or she has control (which is called the trust property), for the benefit of persons (who are called the beneficiaries or cestuis que trust), of whom he or she may be one, and anyone of whom may enforce the obligation.