Excerpt from Trusts for Business Purposes In all probability no part of our law is so well settled as that in reference to trusts and trustees; a rule on this subject laid down in one section of the country is usually adopted and ap plied in another. The reason for this is readily found in that the principles underlying the trust are the same throughout the country irrespective of state lines. This of course is not true of the corporation, for each state has its own acts and no state is bound by the interpretation of the corporate law of a sister state. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Excerpt from Trusts for Business Purposes In all probability no part of our law is so well settled as that in reference to trusts and trustees; a rule on this subject laid down in one section of the country is usually adopted and applied in another. The reason for this is readily found in that the principles underlying the trust are the same throughout the country irrespective of state lines. This of course is not true of the corporation, for each state has its own acts and no state is bound by the interpretation of the corporate law of a sister state. The trust as a business organization may easily be investigated under: First: The source of its rights and its status in the law. Second: The relation of trustee and beneficiary, and the rights and duties of each, and Third: The effect of legislation on the trust. In this connection it is of interest to note that the trust may engage and do all things which an individual may do; and so far the only restriction sought to be placed on the individual is in banking and insurance. In the preparation of this work, reports were examined and not reference works, and where possible the language of the decision is used, with the thought in mind that the busy lawyer is more interested in the law expressed by the court than the deductions of a law writer. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Corporate and Trust Structures: Legal and Illegal Dimensions is a collection of essays by experts in company law, trusts and financial crime. It explores the nature of companies and trusts, how they have been utilised for legitimate business purposes, and how they can be exploited by criminals for illegal purposes. Basic concepts relating to trusts and companies are considered, together with recent developments in corporate liability, including when liability may be attributed to companies and when the veil of limited liability may be lifted. Complex corporate structures, including the ownership structure of the Alibaba Group, are examined. The Panama Papers’ revelations are also discussed together with the mechanisms within trusts and company structures that make them vulnerable and attractive for criminal abuse. The essayists address critical issues in the domestic and international contexts, including the requirements of the international standards against money laundering relevant to trusts and companies. Academics, lawyers, business people and policy-makers will find the essays topical and relevant.

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Excerpt from Business Trusts as Substitutes for Business Corporations: A Paper Read Before the Kansas City Bar Association, April 10, 1920 Something more than a year ago it became necessary for me, in the discharge of my professional duties, to consider the proposed employment of the express trust as a vehicle of trade. Interest thus aroused has since led me to read as widely on the subject as opportunity permitted. I learned that the attention of lawyers generally was being directed to this subject. Accordingly when, recently, I accepted an invitation to address the Bar Association of Kansas City, no subject seemed to be more opportune for discussion - certainly none, appropriate for such an occasion, in which I personally felt a keener interest. The subjoined production was the result. There was no thought of publication in its preparation, but merely, within the necessarily restricted limits of such a paper, to select for discussion those phases of the subject which seemed both interesting and fundamental. Since its delivery, members of the Bar, whose judgment I value, have advised that it be published, and so numerous are the requests received for copies that I have consented to its publication. I have done this with some hesitation, for it is not, and in the nature of things could not have been, a comprehensive treatise. On the contrary, many of the important aspects of the subject were of necessity eliminated from consideration. Such, for example, as the duties of the trustees, their right of indemnity, their liability to the cestuis, action by and against the trustees, theory and extent of creditors' rights against the trustees and against the trust estate, inviolability of the trust fund, seeking direction of the Chancellor, etc. With this foreword of explanation I submit the pages that follow in the hope that they may be of interest and possibly of service to my brethren of the Bar. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.