Trust Territory - Law Dictionary Search Results
Home Dictionary Name: trust territorytrust territory
trust territory : a non-self-governing territory placed under an administrative authority by the United Nations ...
territory
territory pl: -ries 1 : a geographical area belonging to or under the jurisdiction of a governmental authority 2 : a political subdivision of a country 3 : a part of the U.S. (as Guam or the U.S. Virgin Islands) not included within any state but organized with a separate legislature compare trust territory ter·ri·to·ri·al [ter-ə-tōr-ē-əl] adj ter·ri·to·ri·al·ly adv ...
trustee
trustee 1 : one to whom something is entrusted : one trusted to keep or administer something: as a : a member of a board entrusted with administering the funds and directing the policy of an institution or organization b : a country charged with the supervision of a trust territory 2 a : a natural or legal person to whom property is committed to be administered for the benefit of a beneficiary (as a person or charitable organization) : the holder of legal title to property placed in a trust compare cestui que trust, settlor b : one (as a corporate director) occupying a position of trust and performing functions comparable to those of a trustee c : trustee in bankruptcy trust·ee·ship n vb trust·eed trust·ee·ing vt : to commit to the care of a trustee vi : to serve as trustee ...
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also beneficiary, cestui que trust, corpus declaration of trust at declaration, principal, settlor NOTE: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted...
Union Territories
Union Territories, include in the first Schedule of the Constitution of India; also includes any other territory comprised within the territory of India, but not specified in that Schedule, Constitution of India, Art. 366.Union Territories, include some of the formers Parts B and C. States, A Commentary on the Constitution of India, Durga Das Basu, 5th Edn., Vol. 9, p. 44.Union territory, shall mean any Union territory specified in the First Schedule to the Constitution and shall include any other territory comprised within the territory of India but not specified in that Schedule. [General Clauses Act, 1897 (10 of 1897), s. 3(62A)]...
Trust
Trust, is a comprehensive expression, as covering not only the relationship of trustee and beneficiary but also that a bailor and bailee master and servant pledger and pledgee, guardian and ward and all other relations which postulate the existence of fiduciary relationship between the complainant and the accused, State v. K.P. Jain, (1983) 2 Crimes 947 (All).Trust, is a trust for public purposes, the substances and primary intention of the creator must be seen, Shabbir Husain v. Ashiq Husain, AIR 1929 Oudh 225.Trust, is an obligation annexed to ownership. A trustee holds property 'subject' to an obligation, which the testator has imposed upon him, Mahadeo Ramchandra v. Damodar Vishwanath, AIR 1957 Bom 218: (1957) 59 Bom LR 478.Means any arrangement whereby property is transferred with intention that it be administered for another's benefit is a trust. It casts an obligation on the trustee to use the property for achieving the purpose for which the trust is created, Baba Jamuna Das Mah...
Territory
Territory, means a geographical area included within a particular government's jurisdiction, the portion of the earth's surface that is in a State's exclusive possession and control, Black's Law Dictionary, 7th Edn., p. 1485.The use of the word 'territory' in s. 9A(1)(c) indicates that the Statute empowered the Authority while determining the normal value to take into consideration the comparable price of the like article in the exporting country or territory. The placement of this word 'territory' after the word 'country' indicates that the Legislature intended to use the word territory' with reference to a larger geographical area than the exporting country which geographical area or territory has some commercial similarity with the exporting country and the exporting country is a part of the said territory, though not in the political sense but in the economic sense of that word, Designated Authority (Anti Dumping Directorate) v. Holder Topsoe A/s, (2000) 6 SCC 626: AIR 2000 SC 2556...
Extra-territorial operations
Extra-territorial operations, the words 'extra-territorial operation' are used, in two different senses as connoting firstly, laws in respect of acts or events which take place inside the State but have operation outside, and secondly, laws with reference to the nationals of a State in respect of their acts outside, that in its former sense, the laws are strictly speaking intra-territorial though loosely termed 'extra-territorial', and that under Art. 245(1) it is within the competence of the Parliament and of the State Legislatures to enact laws with extra territorial operation in the sense. The words 'laws with extra-territorial operation' in Article 245(2) must be understood in their second and strict sense as having reference to the laws of a State for their nationals in respect of acts done outside the State. Otherwise, the provision would be redundant as regards legislation by parliament and inconsistent as regards laws enacted by States, Bengal Immunity Co. Ltd. v. State of Biha...
Territorial waters
Territorial waters. This expression is used with regard to that portion of the sea, upto a limited distance, which is immediately adjacent to the shores of any country, and over which the sovereignty and exclusive jurisdiction of that country extends. The generally recognized limit is three miles, which was the range of canon in the seventeenth century (see Grotius). Territorial waters are considered as territory to the extent that fishing in such waters is reserved for the exclusive benefit of the subjects of the adjacent country. See the Territorial Waters Jurisdiction Act, 1878 (41 & 42 Vict. c. 73), passed in consequence of the decision in R. v. Keyn, (1876) 2 Ex D 63.Territorial waters shall have the same meaning as in s. 3 of the Territorial Waters, Continental Shelf, Exclusive Economic Zone and other Maritime Zones Act, 1976 (80 of 1976). [Wild Life (Protection) Act, 1972 (53 of 1972), s. 2 (30A)]...
Trust for sale
Trust for sale. Trusts for sale of land were commonly crated in settlements and well-drawn wills. The effect was to convert realty into personalty so that the proceeds devolved upon the beneficiaries as personalty unless they elected to take the property as realty (see CONVERSION), except that upon a lapse of the devise of realty in the testator's lifetime the property resulted to the heir-at-law, Ackroyd v. Smithson, (1780) 1 Bro CC 503. Another and more practical consequence was that the whole estate was vested as a rule in the trustees so that with or without consent of any other person as directed by the donor or testator they could vest the whole estate in a purchaser without his seeing to the application of the purchase money (Trustee Act, 1893, s. 14), and without participation of beneficiaries whose consent was not required, thus providing an expedient, which, together with the Settled Land Acts and other statutes giving analogous powers to mortgagees, personal representatives ...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial