Study On Trustee's Compensation Liability For Breach Of Trust In American Trust Laws

Trustee's rights,duties and liabilities are comprehensively stipulated in American trust laws.In this thesis,the author introduces to people the provisoins in American trust laws about the trustee's compensation liability for breach of trust.[American trust laws here refer to as follows:Restatement of the Law,Second,Trusts(1959),The Uniform Prudent Investor Act(1994)and Uniform Trust Code(2005)].Besides that,the author analyses the difference between the American trust laws and their Chinese counterparts and gives his opinions on how to make Chinese trust laws more practical.Besides Introduction and Conclusion,the thesis consists of four chapters.In Chapter One,the author introduces the definition of trustee's compensation liability in American trust laws and expounds the basis of the liability,i.e.trustee's duties in trust laws,by analysing relevant provisions.The duties include Duty to Keep Trust Property Separate,Duty to Exercise Reasonable Care and Skill,Duty of Royalty, Duty with Respect to Delegation and Duty to Administer the Trust.Chapter Two deals with the nature of the trustee's compensation liability for breach of trust.The liability is attributed by trustee's fault at managing the property and it's stiputated to make good the loss of property.In Chapter Three,the author gives an introduction of the assumption of the compensation liability and its exculpatory provisions.The author introduces the scope, the valuation of the amount and the undertaking of trustee's compensation liability in different circumstances in the first part.In the second part,the author explains in details some of the exculpatory provisions in American trust laws as follows:Consent of Beneficiary,Discharge of Liability by Release or Contract,Discharge of Liability by Subsequent Affirmance,Laches of the Beneficiary,Discharge by Decree of the Court and Trustee's Discharge in Bankruptcy.In Chapter Four,the author analyses the difference between the provisions about trustee's compensation liability in American trust laws and those in their Chinese couterparts and gives his opinions on the improvement of Chinese trust laws.