The Research Of Trustee's Duty Of Impartiality

In the discussion of trustee's fiduciary duty,trustee's duty of loyalty and duty of good management and care often become the focus of people's attention.However,with the continuous expansion of trust functions and the complexity of trust content and trust beneficiary rights,the plural types and quantities of trust beneficiary rights continue to emerge.How to treat multiple beneficiaries fairly has become an important derivative issue,and in practice,these problems have many disputes and cases.Therefore,in the first chapter of this paper,I try to prove that trustee's duty of impartiality itself can become a problem worthy of study: trustee's duty of impartiality has its independence and can exist as an independent fiduciary obligation,rather than being covered by the range of other fiduciary obligations such as the duty of loyalty,the duty of good management and care.In addition,the new trust law of Japan and Uniform Trust Code of the United States are both applicable to it.Trustee's duty of impartiality has been clearly stipulated,and this paper mainly analyses the path of "conflict of interest","means of proof and relief","normative semantics",and then proves that other fiduciary obligations such as trustee's duty of loyalty and duty of good management and care can hardly replace trustee's duty of impartiality.The so-called fair obligation refers to the obligation that when there are several beneficiaries in a trust,the trustee must treat each beneficiary fairly.At the same time,despite its independence,trustee's duty of impartiality as a fiduciary obligation does not exist in isolation and it also has some connection with the trustee's obligation of reporting and explaining.After that,in the second chapter,this paper discusses that there are few theoretical studies on the trustee's duty of impartiality in the field,and in practice,Chinese courts still try trust cases which may involve trustee's duty of impartiality and other fiduciary obligations in accordance with the traditional way of thinking of contract disputes.At present,the mainstream way of practice is to establish trust legal relationship by trust contract.In view of the credibility and arbitrariness of the trust,the trustee's duty of impartiality can not be completely excluded by the trust clause.Therefore,this paper discusses the boundaries of trust contract agreement-after taking the Third Restatement of American Trust Law as a model;we can use Articles 53 and 54 of China's Contract Law as a way of interpretation.When the trust clause does not specifically stipulate the trustee's discretion on trustee's duty of impartiality,how the trustee acts at this time needs to consider the principle of “equitable reallocation”.This paper classifies civil trust and commercial trust,and the specific requirements of the principle of "equitable redistribution" in civil trust and commercial trust are also different.Finally,in the third chapter,this paper discusses that the relief of trustee's duty of impartiality-trustee's discretion can exist as a preventive relief,and when the trustee violates the trustee's duty of impartiality,how to relieve the beneficiaries who suffer from unfair treatment is also the problem of this paper's analysis through the comparison of different theoretical viewpoints: if the actual loss or trust income has not yet been caused If the beneficiaries are not allocated to the beneficiaries who receive the favorable treatment,then we can correct the unfairness.The trustee should take such measures as changing the investment object,requesting the trustee to transfer the benefits to the beneficiaries who will be allocated to the beneficiaries who receive the favorable treatment to their own interests;but if the beneficiaries who receive the favorable treatment have obtained the trust benefits,the unfairness can hardly be corrected at this time.Generally speaking,the trustee should compensate the beneficiaries who suffer from unfavorable treatment with inherent property,so as to achieve relief.Therefore,this paper can draw a conclusion: trustee's duty of impartiality has its independence,and has its own unique operation mode and relief measures,which can become an independent category of fiduciary obligations.