Business speculators using trusts had only in the near past caused a stock market crash. Strict duties for trustees made their method into company law and were applied to administrators and chief govt officers. Another instance of a trustee’s obligation may be to invest property correctly or promote it. This is particularly the case for pension funds, an important type of trust, where traders are trustees for folks’s financial savings until retirement. But trusts can be set up for charitable purposes, famous examples being the British Museum or the Rockefeller Foundation. Consideration indicates the reality that all events to a contract have exchanged one thing of value.
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