Research Paper on:
Trustees' Role and 2000's Trustee Act

Unformatted Sample Text from the Research Paper:
for many years. However the Trustees Act 2000 has brought about large changes, enabling trustees to make more investments than before, as well as extending a duty of care. In  looking at this act and considering how that act has changed and if this now gives a suitable definition, responsibility and flexibility to trustees in order to carry out their  jobs, we need to start with some definitions. If we are going to consider trusts, then the first step we need to take is to define them. A trust  is "1. A confidence reposed by one person in conveying or bequeathing property to another that the latter will apply to a purpose or purposes desired by the former. These  purposes are generally indicated in the instrument, whether deed or will, by which the disposition is made. 2. Hence it signifies the beneficial interest created by such a transaction. In  this sense it may be defined as a beneficial interest in, or ownership of, real or personal property, intended with  the legal or possesory ownership of it" (Ivamy, 2000). If we look at a trust we may make a comparison with a contract.  With the definition of a contract we see that there is no such thing as a contract where there is no consideration, and as such there is no way of  enforcing such a contract. However, the need for consideration is not an aspect of a trust, and as such the laws may appear similar to begin with, with commitments made  and promises, however the vary greatly, as this is required for the tool to be able to undertake its desired task. At