Harvard Law College

Lord King LC was worried that trustees may exploit alternatives to make use of belief property for themselves as a substitute of taking care of it. Business speculators using trusts had only recently triggered a stock market crash. Strict duties for trustees made their way into firm law and have been applied to administrators and chief executive officers. Another example of a trustee’s duty Law may be to invest property wisely or sell it. This is especially the case for pension funds, crucial kind of trust, the place traders are trustees for folks’s savings till retirement. But trusts can also be set up for charitable functions, famous examples being the British Museum or the Rockefeller Foundation.

The idea of estoppel or culpa in contrahendo, can be used to create obligations during pre-contractual negotiations. The Classical republican idea of “civil society” dates again to Hobbes and Locke. Once accredited, a lawyer …