Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 3 – The Indian Trusts Act, 1882

The Indian Trusts Act, 1882

 

3. Interpreation-clause.Trust

 

A “trust” is an obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another, or of another and the owner;

 

The person who reposes or declares the confidence is called the “author of the trust”; the person who accepts the confidence is called the “trustee”; the person for whose benefit the confidence is accepted is called the “beneficiary”; the subject-matter of the trust is called “trust-property” or “trust-money”; the “beneficial interest” or “interest” of the beneficiary is his right against the trustee as owner of the trust-property; and the instrument, if any, by which the trust is declared is called the “instrument of trust”;

 

A breach of any duty imposed on a trustee, as such, by any law for the time being in force is called a “breach of trust”;

 

And in this Act, unless there be something repugnant in the subject or context, registered” means registered under the law for the registration of documents for the time being in force; a person is said to have notice” of a fact either when he actually knows that fact, or when, but for wilful abstention from inquiry or gross negligence, lie would have known it, or when information of the fact is given to or obtained by his agent, under the circumstances mentioned in the Indian Contract Act, 1872, Section 229; and all expressions used herein and defined in the Indian Contract Act, 1872, shall be deemed to have the meanings respectively attributed to them by that Act.

 

 

Previous | Next

 

The Indian Trusts Act, 1882

 

Indian Laws – Bare Acts

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2020 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation