Study On Resulting Trust

Resulting trust is a special kind in Anglo-American trust law system. Resulting trust and constructive trust compose implied trust which is opposite to express trust. The Trust Law of China was the combination of legal transplantation and localization, but it did not transplant implied trust. The author was curious to find the reason here. Constructive trust is normally deemed as a way of restitution and is broadly applied, but the application of resulting trust is limited, so the research on resulting trust is much less than that of constructive trust, especially in China. However, the author believed that since resulting trust was an independent type of trust, there must be a unique value in it. The thought of this question marked the beginning of the author’s systemic study on resulting trust. This thesis firstly makes a comprehensive and systemic introduction of resulting trust in Anglo-American legal system. Then it relates to the current provisions or legal practice of China and analyzes the necessity of transplanting resulting trust, emphasizing on the clarification of the situations where resulting trust can be introduced. The main aim of this thesis is to provide an idea to the improvement of the Trust Law and other relevant rules in China. The thesis consists of three parts-preface, text and conclusion, and the text is divided into the following four chapters:Chapter1is an overview of resulting trust. It firstly shows the definition of resulting trust. Since the thinking mode of Anglo-American legal system is result-driven and deemphasizes definition, it then mainly talks about the legal relation of resulting trust through two parts-nature and structure. Besides, it points out the distinctions between resulting trust and some similar concepts, drawing a clearer picture of the concept of resulting trust.Chapter2is a comprehensive and systemic introduction of resulting trust in equity law. Resulting trust is created by equity law and has a deep root in the equity soil, so this chapter firstly introduces the equity basis of resulting trust through two parts-legal theory basis and legal technology resolution. Then it introduces the two main types of resulting trust presumed resulting trust and automatic resulting trust, clarifying situations where each is applied and pointing out special issues concerned. Considering the completeness of the study, this chapter also introduces a new theory that may expand the application of resulting trust and makes an evaluation of it.Chapter3is an analysis of the necessity for China to transplant resulting trust. Since one precondition of the analysis is knowing the unique value of resulting trust, this chapter firstly elaborates the value in two directions-the "resulting" dimension and the "trust" dimension. Another precondition of the analysis is knowing the current legal practice of situations where resulting trust is applied in Anglo-American legal system, so the chapter also shows this part then. After that, the chapter compares the legal outcome of applying resulting trust with that of applying current rules, and analyzes the benefit of broadening the application of resulting trust in donate with certain purpose. Ultimately, it comes up with a conclusion that resulting trust can play a role in the improvement of the Trust Law and other relevant rules in China, thus should be transplanted.Chapter4is about the institutional construction for the transplantation of resulting trust. The transplantation of law needs legal sources as support, so this chapter first introduces the legal soil which is composed of fundamental principles of civil law and relevant legal rules, and also points out the possible obstacles to the transplantation. After that, the chapter reviews the situations where resulting trust can be introduced and makes suggestions in the amendment of the Trust Law.