Trustee Liability to Third Parties

2017 ◽  
Author(s):  
Paolo Panico
Keyword(s):  
Third Parties ◽  
Basic Notion ◽  
Legal Personality ◽  
Trust Property ◽  
Trust Law

Trusts are not corporate entities: they have no legal personality and so are capable neither of owning property in their own right nor of suing or being sued. Title to the trust property vests in the trustees, who in turn have standing to sue or to be sued in their capacity as such. Of course, this is a basic notion in trust law, yet it entails some intractable consequences for trustees contracting with third parties.

scholarly journals Floating Charges and Trust Property in Scots Law: A Tale of Two Patrimonies?

2018 ◽  
Vol 22 (1) ◽  
pp. 1-28
Author(s):  
Alisdair D J MacPherson
Keyword(s):  
Charge Property ◽  
Legal Position ◽  
Trust Property ◽  
The Law ◽  
Trust Law ◽  
A Company

This article contains a doctrinal analysis of floating charges and trust property in Scots law. It uses the dual patrimony approach of trust law to interpret the floating charge's creation, attachment and enforcement, and thereby demonstrates that it is not possible under the current law to effectively charge property held by a company in trust. The application of the dual patrimony theory provides a broader foundation for explaining the current legal position and helps to integrate the floating charge into wider Scots law. The article also diagnoses issues that would need to be resolved if the law were to be successfully reformed to enable the charging of trust property. It shows that there are some ways in which the current law could facilitate such reform but that, in other respects, more substantial changes would be required.

scholarly journals PENGUSIRAN MASSAL PENGUNGSI AFRIKA UTARA DARI JERMAN DAN PERMASALAHANNYA

2018 ◽  
Vol 1 (1) ◽  
pp. 1164
Author(s):  
Gibson Radityo ◽  
Ida Kurnia
Keyword(s):  
Third Parties ◽  
International Organization ◽  
Vienna Convention ◽  
Legal Action ◽  
International Convention ◽  
Legal Personality ◽  
The Third ◽  
High Commissioner ◽  
Refugee Issues ◽  
United Nation

United Nation High Commissioner of Refugee (UNHCR)  is an internasional organization made under United Nations (UN) specifically for asylum seeker and refugee issues. As an international organization, UNHCR have a legal personality which is give them power to do such a legal action, yet from that power make UNHCR also gets its rights and respondsibility. According to UNHCR statute, Vienna Convention 1951 and Protocol 1967, one of UNHCR respondsibility is to protect and keep the refugee safe and make sure the third parties nation do all the responsibility to keep and protect the refugee. But how, if there is an issue that a nation break the international convention for refugee by force the refugee back to their home, yet the refugees already proved to do crimes againts the third parties nation policy? yet if the refugees forced  back to their origin couuntry, they will be threathened, so how suppose the UNHCR as an international organization for refugee do according to the UNHCR statute and Convention of refugees?in that case it will give a responsibility for UNHCR to solve the issue for the refugee. As the case above, the author have an insterest to summarizes the issue as my thesis.

Corporate Personality

2021 ◽  
pp. 37-47
Author(s):  
Eva Micheler
Keyword(s):  
Third Parties ◽  
Company Law ◽  
Organizational Boundaries ◽  
Legal Personality ◽  
Corporate Form ◽  
Organizational Action ◽  
To Come ◽  
A Company ◽  
Corporate Personality

This chapter discusses how separate legal personality can be explained as a solution developed by company law to address the problem that organizations are social rather than brute facts. For a company to come into existence, certain documents need to be registered. These contain information that facilitates the interaction between the company and third parties. Registration as a company then gives an organization a public legal manifestation. The Companies Act does not limit the corporate form to organizational action. The corporate form can therefore be used for other purposes and organizational boundaries do not align with legal personality. But this does not undermine the observation that company law is designed for the operation of organizations.

31. Remedies against strangers to the trust

2018 ◽  
Author(s):  
Robert Pearce ◽  
Warren Barr
Keyword(s):  
Third Parties ◽  
Third Party ◽  
The Third ◽  
Trust Property ◽  
The Third Party ◽  
The Stranger

This chapter considers remedies involving a breach of trust which involves a third party who was not a trustee either as a participant in the breach or as the recipient of trust property transferred to them in breach of trust. In the event of such a breach, the beneficiaries of the trust may be entitled to pursue remedies against the stranger. The third party is termed a ‘stranger to the trust’ because he or she was not a trustee and, therefore, was not subject to any obligations prior to his or her involvement in the breach. Remedies against third parties may prove more attractive to the beneficiaries than their remedies against the trustee in breach. The availability of remedies against a stranger to the trust will be especially important if the trustee is insolvent, thus rendering direct remedies against the trustee ineffective.

10. The fiduciary duty

2018 ◽  
Author(s):  
Gary Watt
Keyword(s):  
Conflicts Of Interest ◽  
Third Parties ◽  
Good Faith ◽  
Fiduciary Duty ◽  
Fiduciary Duties ◽  
Trust Property ◽  
Fiduciary Relationships ◽  
Strict Rule

The fiduciary duty is the defining duty of trusteeship and consists of several overlapping obligations intended to promote loyalty or faithfulness. As part of his fiduciary duty, the trustee should avoid conflict with the interests of the trust and not to make an unauthorised unauthorized profit from the trust property, or from his position of trust. The fiduciary duty may also apply to a person who is not a trustee, in which case he is said to be a fiduciary. This chapter examines the principal obligations of trusteeship and the implications of breach of those obligations for trustees, beneficiaries, and third parties. It first discusses the strict rule of exemplary fiduciary propriety before turning to the duty of good faith. The chapter also looks at fiduciary relationships and fiduciary duties, the fiduciary duty to avoid conflicts of interest, the fiduciary duty to account for unauthorised unauthorized profits, and trustee remuneration.

Liability to Third Parties of Member States of International Organizations: Practice, Principle and Judicial Precedent

1991 ◽  
Vol 85 (2) ◽  
pp. 259-280 ◽  
Author(s):  
C. F. Amerasinghe
Keyword(s):  
International Law ◽  
International Organizations ◽  
International Agreements ◽  
Third Parties ◽  
International Level ◽  
Member States ◽  
Legal Personality ◽  
Municipal Law ◽  
Legal Consequences

One of the principal issues of interest to international lawyers in the International Tin Council cases decided by the English courts was whether member states of the International Tin Council (ITC) were secondarily or concurrently liable to third parties for the debts of the organization. This issue may arise when two or more states form an organization with legal personality that can perform functions with legal consequences. In the course of performing these functions, such an organization may incur liabilities to third parties. These third parties may be states, other organizations, individuals or legal persons. The states may be member states of the organization itself or other states, and the individuals and legal persons may be nationals of member states or not. The liabilities may emanate from transactions, such as international agreements between states and the organization, that take place at the international level and may be governed by international law; or they may stem from transactions governed by municipal law, whether between the organization and states, individuals or legal persons. Such liabilities may be contractual, quasi-contractual or delictual.

1 Legal Status (Personality), 1.3 Maclaine Watson & Co. Ltd v International Tin Council , 26 October 1989, United Kingdom House of Lords, 81 ILR 670

2016 ◽  
Author(s):  
Palchetti Paolo
Keyword(s):  
United Kingdom ◽  
International Law ◽  
Legal Status ◽  
Third Parties ◽  
International Organization ◽  
Legal Personality ◽  
House Of Lords ◽  
Domestic Law

This judgment constitutes one of the most authoritative precedents on the question concerning responsibility of members for acts of the organization. The House of Lords denied the existence of a rule of general international law according to which, in the absence of an express provision in the constitutive treaty excluding the responsibility of the members, they are responsible, jointly and severally, for the breach by the organization of its obligations to third parties. According to the House of Lords, the separate legal personality of an international organization precludes that the members can be held responsible, due to their membership, for the conduct of the organization. The judgment also addresses the question of whether the effects stemming from the possession of a separate legal personality have to be determined by reference to international law or by reference to the domestic law of the forum state.

scholarly journals Legal nature of the relations between the company and her administrator

2021 ◽  
Author(s):  
Nicolae Sova ◽  
◽  
Irina Moraru ◽  
Keyword(s):  
Organizational Structure ◽  
Third Parties ◽  
Legal Personality ◽  
Normative Framework ◽  
Judicial Practice ◽  
Legal Provisions ◽  
Legal Nature ◽  
Internal Management ◽  
The Law

The company was conceived as an autonomous body, to which the law gives legal personality. The management of the company is carried out by its administrator, in accordance with the legal provisions and the articles of incorporation. In this sense, we emphasize that the administrator is an essential body in the organizational structure of the company, having responsibilities both in the field of internal management, but also in terms of relations with third parties, representing the company. This article is dedicated to to the analysis of the legal nature of the relations between administrators and the company in terms of the normative framework, judicial practice and doctrinal approaches.

Trust and Patrimony

2015 ◽  
Author(s):  
Lionel D Smith
Keyword(s):  
Common Law ◽  
Direct Access ◽  
Legal Personality ◽  
The Common ◽  
Trust Property

This chapter examines whether the common law trust can be understood as a patrimony in the civilian sense. It begins with a discussion of Pierre Lepaulle's claim that the common law trust is a patrimony affected to a destination or purpose. It then considers the situation of creditors and beneficiaries in a common law trust before advancing the argument that, contrary to the position taken by Lepaulle, the common law trust is not a patrimony. It contends that only trustees have direct access to the trust assets; trust creditors, and even beneficiaries, do not. It also asserts that the essence of the common law trust lies not in any division of ownership of the trust property, but in the fact that the trust beneficiaries hold rights in the rights that the trustee holds as trust property. The chapter concludes by relating the trust institution to the idea of legal personality.

10. The fiduciary duty

2020 ◽  
pp. 350-381
Author(s):  
Gary Watt
Keyword(s):  
Conflicts Of Interest ◽  
Third Parties ◽  
Good Faith ◽  
Fiduciary Duty ◽  
Fiduciary Duties ◽  
Trust Property ◽  
Fiduciary Relationships ◽  
Strict Rule

The fiduciary duty is the defining duty of trusteeship and consists of several overlapping obligations intended to promote loyalty or faithfulness. As part of his fiduciary duty, the trustee should avoid conflict with the interests of the trust and not to make an unauthorised unauthorized profit from the trust property, or from his position of trust. The fiduciary duty may also apply to a person who is not a trustee, in which case he is said to be a fiduciary. This chapter examines the principal obligations of trusteeship and the implications of breach of those obligations for trustees, beneficiaries, and third parties. It first discusses the strict rule of exemplary fiduciary propriety before turning to the duty of good faith. The chapter also looks at fiduciary relationships and fiduciary duties, the fiduciary duty to avoid conflicts of interest, the fiduciary duty to account for unauthorised unauthorized profits, and trustee remuneration.

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