Trustee Liability For Third Study

The liability of a trustee to the third party is a foundational issue in common law jurisdiction.Since the underlying aim of a trust established for private purpose is to ensure the benefit is transferred effectively to the beneficiaries through the administration of the trust property,so in the legal relation of a trust,trustee and trust property are on the core place.Whether or not the beneficiary could gain the benefit depends on the trustee's rights and duties,one of which is the liability of a trustee to the third party. Should the trustee take the unlimited liability by using his own property or should him take the limited liability within the limit of the trust property,is not only a simple question related to the stability of trust property,but also has great signification to the relationship between the trustee,the beneficiary and the third party.However,if we take a look at our legal system,we will find that the provisions in the PRC Trust Law is too simple and little attention is paid to the special subject in Chinese academic treatises.So this thesis tries to get some suggestive conclusion,on the basis of a preliminary analysis and discussion,about how to refine the institution of trustees' liabilities to third parties in our trust law system.This thesis is divided into five parts.Chapter 1 discusses the definition of the legal concept.The liability of a trustee to the third party is a legal obligation which is produced by contracts,torts or any other legally recognized duties incurring in trustee's administrative activities of trust property.Chapter 2 introduces the regulations of trustee's liability to the third party in common law jurisdiction.English trust law provides that a trustee must take personal liability for the debts,torts,taxes arising in respect of his acts or omissions as trustee,which means unlimited liability.On the other side,American trust law has undergone massive changes in this subject,that is to say,from unlimited personal liability to limited liability.Chapter 3 introduces the regulations of trustee's liability to the third party in Civil law jurisdiction.Japanese trust law provides that a trustee must take personal liability for his administration of trust property.Besides, it also endows the trustee with the right to get compensation from the trust property after him undertaking his liabilities.On the other side,Quebec trust law has recognized the independent main-body position of trust property,which regards the trust property as a person liable for all obligations.Chapter 4 is a macroscopic research of the theory and value fundament of trustee's liability to the third party.Through examining the meaning of the independence of trust property and the changes from unlimited liability to limited liability,the author addresses the trust property has gain independence of status in some ways and it reflects that the beneficiary principle has been weakened and the trustee's duties has been lightened to some extent.Chapter 5 reviews and analyzes the provisions in our country's trust law.It attempts to point out the legislative inadequacy of contemporary regulations and discuss how to refine the institution of trustee's liability to the third party in Chinese trust law.The Methodology of this paper is listed as below:(1) Case study Method;(2) Comparative Method;(3) Historical Method...