|n.||1.||Assured resting of the mind on the integrity, veracity, justice, friendship, or other sound principle, of another person; confidence; reliance; reliance.|
|2.||Credit given; especially, delivery of property or merchandise in reliance upon future payment; exchange without immediate receipt of an equivalent; |
|3.||Assured anticipation; dependence upon something future or contingent, as if present or actual; hope; belief.|
|4.||That which is committed or intrusted to one; something received in confidence; charge; deposit.|
|5.||The condition or obligation of one to whom anything is confided; responsible charge or office.|
|6.||That upon which confidence is reposed; ground of reliance; hope.|
|7.||(Law) An estate devised or granted in confidence that the devisee or grantee shall convey it, or dispose of the profits, at the will, or for the benefit, of another; an estate held for the use of another; a confidence respecting property reposed in one person, who is termed the trustee, for the benefit of another, who is called the cestui que trust.|
|8.||An equitable right or interest in property distinct from the legal ownership thereof; a use (as it existed before the Statute of Uses); also, a property interest held by one person for the benefit of another. Trusts are active, or special, express, implied, constructive, etc. In a |
|9.||A business organization or combination consisting of a number of firms or corporations operating, and often united, under an agreement creating a trust (in sense 1), esp. one formed mainly for the purpose of regulating the supply and price of commodities, etc.; often, opprobriously, a combination formed for the purpose of controlling or monopolizing a trade, industry, or business, by doing acts in restraint or trade; |
|a.||1.||Held in trust; |
|v. t.||1.||To place confidence in; to rely on, to confide, or repose faith, in; |
|2.||To give credence to; to believe; to credit.|
|3.||To hope confidently; to believe; - usually with a phrase or infinitive clause as the object.|
|4.||to show confidence in a person by intrusting (him) with something.|
|5.||To commit, as to one's care; to intrust.|
|6.||To give credit to; to sell to upon credit, or in confidence of future payment; |
|7.||To risk; to venture confidently.|
|v. i.||1.||To have trust; to be credulous; to be won to confidence; to confide.|
|2.||To be confident, as of something future; to hope.|
|3.||To sell or deliver anything in reliance upon a promise of payment; to give credit.|
|Noun||1.||trust - something (as property) held by one party (the trustee) for the benefit of another (the beneficiary); "he is the beneficiary of a generous trust set up by his father"|
|2.||trust - certainty based on past experience; "he wrote the paper with considerable reliance on the work of other scientists"; "he put more trust in his own two legs than in the gun"|
|3.||trust - the trait of trusting; of believing in the honesty and reliability of others; "the experience destroyed his trust and personal dignity"|
|4.||trust - a consortium of independent organizations formed to limit competition by controlling the production and distribution of a product or service; "they set up the trust in the hope of gaining a monopoly"|
|5.||trust - complete confidence in a person or plan etc; "he cherished the faith of a good woman"; "the doctor-patient relationship is based on trust"|
|6.||trust - a trustful relationship; "he took me into his confidence"; "he betrayed their trust"|
|Verb||1.||trust - have confidence or faith in; "We can trust in God"; "Rely on your friends"; "bank on your good education"; "I swear by my grandmother's recipes"|
|2.||trust - allow without fear|
|3.||trust - be confident about something; "I believe that he will come back from the war"|
|4.||trust - expect and wish; "I trust you will behave better from now on"; "I hope she understands that she cannot expect a raise"|
|5.||trust - confer a trust upon; "The messenger was entrusted with the general's secret"; "I commit my soul to God"|
|6.||trust - extend credit to|
TRUST, contracts, devises. An equitable right, title or interest in
property, real or personal, distinct from its legal ownership; or it is a
personal obligation for paying, delivering or performing anything, where the
person trusting has no real. right or security, for by, that act he confides
altogether to the faithfulness of those entrusted. This is its most general
meaning, and includes deposits, bailments, and the like. In its more
technical sense, it may be defined to be an obligation upon a person,
arising out of a confidence reposed in him, to apply property faithfully,
and according to such confidence. Willis on Trustees, 1; 4 Kent, Com. 295; 2
Fonb. Eq. 1; 1 Saund. Uses and Tr. 6; Coop. Eq. Pl. Introd. 27; 3 Bl. Com.
2. Trusts were probably derived from the civil law. The fidei commissum, (q.v.) is not dissimilar to a trust.
3. Trusts are either express or implied. 1st. Express trusts are those which are created in express terms in the deed, writing or will. The terms to create an express trust will be sufficient, if it can be fairly collected upon the face of the instrument that a trust was intended. Express trusts are usually found in preliminary sealed agreements, such as marriage articles, or articles for the purchase of land; in formal conveyances, such as marriage settlements, terms for years, mortgages, assignments for the payment of debts, raising portions or other purposes; and in wills and testaments, when the bequests involve fiduciary interests for private benefit or public charity,, they may be created even by parol. 6 Watts & Serg. 97.
4.-2d. Implied trusts are those which without being expressed, are deducible from the nature of the transaction, as matters of intent; or which are superinduced upon the transaction by operation of law, as matters of equity, independently of the particular intention of the parties.
5. The most common form of an implied trust is where property or money is delivered by one person to another, to be by the latter delivered to a third person. These implied trusts greatly extend over the business and pursuits of men: a few examples will be given.
6. When land is purchased by one man in the name of another, and the former pays the consideration money, the land will in general be held by the grantee in Trust for the person who so paid the consideration money. Com. Dig. Chancery, 3 W 3; 2 Fonb. Eq. book 2, c. 5, Sec. 1, note a. Story, Eq. Jur. Sec. 1201.
7. When real property is purchased out of partnership funds, and the title is taken in the name of one of the partners, he will hold it in trust for all the partners. 7 Ves. jr. 453; Montague on Partn. 97, n.; Colly. Partn. 68.
8. When a contract is made for the sale of land, in equity the vendor is immediately deemed a trustee for the vendee of the estate; and the vendee, a trustee for the vendor of the purchase money; and by this means there is an equitable conversion of the property. 1 Fonb. Eq. book 1, ch. 6, Sec. 9, note t; Story, Eq. Jur. SSSS 789, 790, 1212. See Conversion. For the origin of trusts in the civil law, see 5 Toull. Dr. Civ. Fr. liv. 3, t. 2, c. 1, n. 18; 1 Brown's Civ. Law, 190. Vide Resulting Trusts. See, generally, Bouv. Inst. Index, h.t.