What are the eligibility criterias for forming the trust under the Indian Trust Act, 1882 ?
CS Executive · Economic, Business and Commercial Laws · PYQS · December 2018
What are the eligibility criterias for forming the trust under the Indian Trust Act, 1882 ?
Answer & Explanation:
According to the Indian Trust Act, 1882, a trust may be created for any lawful purpose. A trust may be created: By every person competent to contract, and, With the permission of a principal Civil Court of original jurisdiction, by or on behalf of a minor. Trust is created when the author of the trust indicates with reasonable certainty by any words or acts: An intention on his part to create thereby a trust, The purpose of the trust, The beneficiary, and The trust-property unless the trust is declared by will or the author of the trust is himself to be the trustee. If a trust is to be valid and enforceable, it is material to ascertain the author of the trust.
Topics: Indian Trust Act, 1882
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