A Study On The Legal Relation Of Trust

The trust of Anglo-American law system is developing fast in civil law countries where real right system is superior. However, relevant legislations and system researches in our country are lagging behind development of the trust practice. Based on the original meaning of trust law, this thesis looks back upon evolution of trust in the Comparative Law, scans transplant and innovation of our trust again, and then studies the obligations and rights of the parties under the management and guarantee trust modes. Management trust and guarantee trust are set up for different purposes, thus leading do disparity between rights and obligations of involved parties. The author believes that more attention shall be paid to regulation on assignee’s obligations and protection for rights and interests of the beneficiary in the management trust. This paper combs assignee’s obligations and improvement of our current Trust Law, clarify assignee’s responsibility towards the beneficiary in occasions whether the assignee missteps, and discusses protection for the third party acting in good faith. Using transferring guarantee as an example, this thesis discusses establishment and effectiveness of the contracts, and obligations of guarantors. The incidents that using the same security to establish several securities with different obligees and disposing securities without authorization are frequent. Taking these two incidents as examples, this thesis analyses the responsibilities and rights of parties. The author argues that relations between rights and obligations shall be balanced in accordance with the unauthorized disposal system of Contract Law and bona fide acquisition of Property Law.