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On The Right Of Revocation Of The Trust Beneficiary

Posted on:2007-06-04Degree:MasterType:Thesis
Country:ChinaCandidate:D Y LiuFull Text:PDF
GTID:2206360215486076Subject:Economic Law
Abstract/Summary:PDF Full Text Request
In our trust practices, the problem that the beneficiaries' benefitswere damaged because of the trustee's breach of trust has been one of theimportant reasons that affects our trust's development. According to thepresent trust law's stipulation of our country, when the trustee was breachof trust to deal with trust property, the beneficiary could enforce hiscancellation right to cancel the trustee's conductor of breach of trust.However, the stipulations of the beneficiary's cancellation right system inthe clauses were disadvantageous to the exercises of the beneficiary'scancellation right. For instance, the problems included that trust propertywas "commission" to trustee but "transfer" to trustee initiated the trustproperty rights to be unclear, beneficiaries and trustors both have thecancellation right manifested the misinterpretation to trust's essence, andthe third-party should assume the responsibility of returning trustproperty just on this condition when he obviously knew that the trustee'sconduct was breached the trust goals, but it didn't contain the condition of"should knew" etc, all affected the exercises of the beneficiary'scancellation right. Therefore, in order to reinforcing the right ofbeneficiaries' self- relief, This article researched the beneficiary'scancellation right. On the base of discussing the legal attributes of thebeneficiary's cancellation, using for reference about the legislationexperiences of England, America, Japan, Taiwan and so on, analyzing theshortages of the beneficiary's cancellation right in our trust law, andbringing forward some modification advices about the clause 2, clause 22,and clause 49 in our present trust law, in order to protect the beneficiary'sbenefits well and promote the trust industry's vigorous development inour country.
Keywords/Search Tags:trust, beneficiary, trustee, cancellation right
PDF Full Text Request
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