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The Trusts Act, 1882
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What is the definition of a trust under the Trusts Act, 1882?
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A
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.
💡 Explanation:
According to the Trusts Act, 1882, a trust is 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.