The Dilution of the Trust
Gregory S. Alexander
Cornell Law School
December 21, 2011
THE WORLDS OF THE TRUST, Lionel Smith, ed., Cambridge University Press, 2012
Cornell Legal Studies Research Paper No. 11-41
Trust-like arrangements are appearing in civil law jurisdictions at an increasing rate. Two or three decades ago, such a development would have been unthinkable. But few, if any, of the new arrangements are true trusts, that is, trusts as the common lawyer would recognize them. These civilian arrangements are diluting the trust. For example, the Draft EU Directive on Protected Funds, which appeared in 2009, does not authorize the trust but rather what we might the “trust-lite.” This paper considers some reasons for the spread of these trust-like devices and discusses possible implications for common-law trusts.
Number of Pages in PDF File: 8Accepted Paper Series
Date posted: December 22, 2011
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