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Words: 2,657 | Submitted: Thu Dec 27 2007
... trust. Recently, the idea that a beneficiary is needed to control a trust had come under attack, by a number of critics and some of the judiciary, despite the fact that in equity "one of the virtues claimed for the trust device is adaptability"4, because of the apparent inconsistencies that have been evident in the development of the beneficiary principle, which seems to have develop in more of a commercial and personal context. Without beneficiaries a trust would be unenforceable and constitute an unenforceable purpose trust. The need for beneficiaries has been challenged in the twentieth century, because some do not see the need for beneficiaries to exist so that the trust can be controlled. This essay will go on to outline the development of the beneficiary principle, the reaction to it, the controversial dispute over the concepts of purpose trusts and protective trusts, charitable trusts and the build up ...
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