| Trust originated from "Fidei Commissum" of Roman law. Modern trust being as the system for managing the properties for others is thought to be originated from Britain Equity from the unanimous view of this field study, and British trust system originated from "Use design" of middle century. There are different views on where the "Use design" came from. My view in this paper is as follows: no matter "Use" or modem trust system, its basic law concept and forming reason is closer Roman law than that of British: First, these two laws had the same society origin; Second, these two had the same law origin----balance concept; Third, the two had the same essence, they were all based on the trust to carry out the Severance of property right. To completely understand the social origin and its importance of Trust system originated from Britain, we have to know a little British feudalism. Feudalism is a national system as well as a land right system, the right of feudal land is in the hand of the king, thus it is not transferable. To keep away this system, Britain society appeared a kind of Transmutation of Possession, this is the "Use design" called "Use" From 13 century to 15 century, "Use" was not recognized by Common Law. Chancellor was developed into the equity court in 15 century, trust was formed due to the promotion of the equity court and religion. The complex effect of different social background, the need of times, different law concepts, politics and religions produced the different results, trust disappeared in Roman Law, but it existed and developed in Britain based mainly on emerging of The equity court and religions. The role change of trustee made the trust function changed basically, its modem development of trust is that Passive trust transformed toward Active trust. With the two large law system merging together, Britain and American trust transited from Case law to Statute law. "The Trustee Act" in 1850 was the first Statute law to formulate general relation of trust, after that, many countries imitated Britain, and The United States and Japan gained the best results. Britain and USA system was introduced into China from the end of 19 century to the beginning of 20 century. Before the establishing the People's Republic of China, there were basically no civil trusts and charitable trusts except few commercial trusts, no mention the trust law. The first trust was built up in new China in 1979, which is the start of trust business and practice. The State Council promulgated "The temporary Act of bank management" in January of 1986, and give forth "The temporary Act for management of invest setup on finance trust" in April of the same year. After that period of time trust has developed fast, but actually it mainly do the bank affairs besides a few trust business. Regarding this condition, five times of rectification were carried out early of late in China, and finally "ommercial Bank Law" defined the system that trust business, banking business and securities business were set apart. "Trust law of People's Republic of China" was promulgated on 28, April of 2001, which indicated that there is the first basic law for formulating trust relationship, it has great importance for promoting China economy development. The law for trust inheritance was published with "Law of trust" the dispute for putting it into just civil law puts to an end, "Trust law" is single law at present, it belongs to in nature special civil law of Sasic trust relat... |
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