1882

CSE = Indian Trust Act 1882 (Economic & Commercial Laws - Jun/Dec 2016)

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• published: 15 Apr 2016
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Indian Trust Act 1882 - A FREE Short Video By Prof. Shantanu Pethe (CACSCMA COACH) (Full Lecture is available at www.cacscmacoach.com) --------------------------------------------------------------------------------------------------- For Further Details http://www.cacscmacoach.com Subscribe to FREE Channel - http://goo.gl/mDvqr6 Call Customer Care : (91) 9860-5444-18 ---------------------------------------------------------------------------------------------------- Watch All High Quality best Video Lectures at your home along with Support to prepare for following exams / courses 1) ICAI = CA - CPT, IPCC, Final 2) ICSI = CS - Executive/ Foundation / Professional 3) ICMA / ICWAI = CMA - Inter / Final / Foundation & Also for 4) MBA / BBA / LLB / MCOM BCOM / 11th / 12 th Commerce All Subjects are covered by Prof. Shantanu Pethe Such as Accounts, Income Tax, Indirect Tax, Industrial Labour & General Laws, Economic & Commercial Laws, Capital Market & Securities Laws, Company Law, Costing, Financial Management, Quantitative Aptitude, Economics, Mercantile Law, Operation Research ============================================= Introduction Name: Indian Trust Act 1882 Effective from: 1st March 1882 Total Sections: 96 Schedule: 1 Extent: Whole of India (Except = J&K; + A&N; Islands)   DEFINITION OF TRUST A trust is an obligation annexed to the ownership of property and Arising out of a confidence • Reposed in and accepted by the owner or • Declared and accepted by him, For the benefit • of another, or • of another and the owner (actual owner). Note: The person who reposes or declares the confidence is called the author of trust or the settlor. The person who accepts the confidence is called the trustee. The person for whose benefit the confidence is accepted is called the beneficiary. The subject-matter of the trust is called the trust-property or the trust-money. 4: PURPOSE OR OBJECT OF TRUST A trust can be created only for a lawful purpose. The purpose of a Trust is lawful, unless: a) It is forbidden by law; b) It is of such nature that, if permitted, it would defect the provision of any law; c) It is fraudulent; d) It involves or implies injury to the person or property of another; e) The court regards it as immoral or opposed to public policy. Every trust of which the purpose is unlawful is void. Where a trust has been created for two purposes, of which one is lawful and other unlawful and the two purposes are such that they can't be separated, the whole trust is void. [Chogal Bhandari v. Deputy Commercial Tax Officer] To be Continued .......................................