The Trusts Act, 1882

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Multiple Choice

What is the definition of a trust under the Trusts Act, 1882?

  1. An obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another, or of another and the owner.
  2. A contract between two or more persons, whereby one person transfers property to another person, who agrees to hold the property for the benefit of the first person.
  3. A legal relationship in which one person holds property for the benefit of another person.
  4. A gift of property from one person to another.
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