Research On Protection Of Most Beneficiaries In Commercial Trust

Commercial trust is developed from the traditional private trust and has been widely used in the world for its diverse functions. Commercial Trust appears to meet the need for public investment and financing intermediary and has the characteristics of beneficial trust and business trust from the outset. Trustees are mostly specialized financial institutions to provide financial services and charge a certain amount of remuneration. Trustors are also beneficiaries and they transfer certain assets to a trustee to manage.Commercial trust collects the public's money, plays a scale effect and the beneficiaries often appear in the plural form. The “one to one” relationship in traditional private trust between the trustee and the beneficiary becomes “one to many” in commercial trust. And here comes the problem that how to protect the most beneficiaries in commercial trust.Throughout the development of commercial trust all over the world, most of the countries insisted on improving the basic trust law as well as the specific legislations for specific types of commercial trust. Specifically, the basic trust law of the Britain and the USA focuses on the obligation of trustees and establishes a comprehensive system of norms, complemented by the beneficiaries' right relief system. The obligations of trustees and the rights of the beneficiaries are strengthened(or limited) in particular commercial trust law and there is an internal and external supervision of the Commercial Trust. Japan learns from the Britain and the USA and develops its own commercial trust. There is an arrangement of most beneficiaries as well as the obligations of trustees. Coupled with the original provisions of the commercial trust particular law, the protection of Japan's most beneficiaries is well established.Trust in our country has been mainly concentrated in commercial fields. However, due to various reasons, we have not established a comprehensive framework of basic trust law and commercial trust particular law. The protection of beneficiaries is not optimistic. This essay attempts to analyze our countries' protection of most beneficiaries in commercial trust by learning from the successful experience of other countries.This article is divided into introduction, text and conclusion. There are three chapters in the text:Chapter one focuses on two aspects: commercial trust and most beneficiaries. First, there is a definition of commercial trust and an analysis of “civil trust”, “commercial trust”, “business trust”. Then the essay begins analyzing most beneficiaries, including the concept, classification and exercise of the right. The key research is the exercise of most beneficiaries' rights.Chapter two This chapter focuses on the protection of most beneficiaries in Britain, the USA and Japan in order to find some commonalities or some effective institutional arrangements concerning the protection of most beneficiaries, which may provide a reference for the protection of most beneficiaries in our country.Chapter three takes a review of the current situation of China's protection of most beneficiaries in commercial trust at the beginning and points out the deficiencies. On this basis, then, the essay attempts to give some advices on the perfection of China's protection of most beneficiaries in commercial trust.The last is the conclusion of the essay.