Passive Debt - Law Dictionary Search Results
Passive debt
Matched in: Term Passive debt
Special trust
is introduced for the execution of some purpose particularly pointed out, and the trustee is not a mere passive depositary of the estate, but is called upon to exert himself actively in the execution of the settlor's … the settlor's intention; as where a conveyance is made to trustees upon trust to sell for payment of debts. See USES.
Uses
general, however, there was but little difference in the terms 'use' and trust. See OFFICIAL USE; ACTIVE USE; PASSIVE TRUST, and infra. Uses may be classified as:- I. Present or executed; distributable into:- (a) Those arising by … (8) A use, being but the creature of equity, could not have been taken in execution for the debts of the cestui que use; for there was no process at Common Law but against legal estates. (9)
Keep your definitions linked to case research
trust
a duty to act affirmatively (as in exercising control, discretion, and judgment) with regard to the property compare passive trust in this entry alimony trust : a trust created often in accordance with a separation agreement in … a spendthrift who is paid income therefrom and that cannot be reached by creditors to satisfy the spendthrift's debts tentative trust : totten trust in this entry testamentary trust : a trust created in a will to
- ‹ Prev
- Next ›
Try the research workspace - 7 days free