I have been reading up on the textbook for Equity and
Trust by Pearce and Stevens at my own leisure during my period of leave of
absence. I do get the concept of what a trust is about, and the various
variables to which the trust can be formed. Basically, a trust is a legal
instrument by which a person (settlor) bequeaths the goods to a trustor who
administrates how the goods is to be dealt with for a beneficiary. One instance
of a trust instrument at work is a will, which specifies how the inheritance is
to be given out to the heirs after a person’s death. There are variables
construing the nature of a trust, such as whether it allows the trustee to
allocate the goods to the beneficiaries at his own discretion (discretionary
trust), or is required to follow the fixed allocation stipulated in the trust
instrument (fixed trust), or has complete discretion whether he wants to
allocate the goods to the beneficiaries or not.
I was having some sort of mental burnout for law school
for this semester as well as the previous semester such that I was unable to
conceptualize and understand anything from my reading at all. And one thing
that I find myself struggling in law school is to be able to read and
understand the copious amount of readings fast, and to make my own notes for
the examinations. But when I read it on my own leisure, I am able to understand
things eventually.
I was thinking how the law of trust would work in a
scenario which I had while I was in the army. As an administrator of a course,
I had to order beverages for the members of the course using an electronic
online system. When the beverages of water arrive, I would store them somewhere
in the office or the storeroom. My dilemma was whether I was allowed to consume
the beverages, or whether that would amount to a criminal breach of trust. It
seemed intuitive to me that it would be an offence if a staff would take the
entire supply of beverages home for his own consumption, but what about if he
just takes one or two packets from the entire provision? Would the law distinct
whether the taking from the trust by the trustee for his own benefit is
trivial, or will it hold the trustee absolutely to his fiduciary duties to
administrate the provisions for the beneficiaries?
My understanding of the situation is a little unclear. I am not sure whether I am even miscomprehending this as a trust situation. I have been rather bad when it comes to understanding law stuff.
My understanding of the situation is a little unclear. I am not sure whether I am even miscomprehending this as a trust situation. I have been rather bad when it comes to understanding law stuff.
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