KFLCC Kingdom Law 2nd Ed.

1175

TRUST

TROY WEIGHT

son, 24 R. I. 317, 53 Atl. 93, 96 Am. St Rep. 716; Waring v. Pennsylvania R. Co., 76 Pa. 496; Metropolis Mfg. Co. v. Lynch, 68 Conn. 459, 36 Atl. 832; Spellman v. Richmond & D. R. Co., 35 S. C. 475, 14 S. E. 947, 28 Am. St .Rep. 858. TROY WEIGHT. A weight of twelve ounces to the pound, having its name from Troyes, a city in Aube, France. TRUCE. In international law. A sus pension or temporary cessation of hostili ties by agreement between belligerent pow ers; an armistice. Wheat. Int. Law, 442. —Trace of God. In medieval law. A truce or suspension of arms promulgated by the church, putting a stop to private hostilities at certain periods or during certain sacred sea sons. This name is given to the statute 1 & 2 Wm. IV. c. 37, passed to abolish what is commonly called the "truck system," under which em ployers were in the practice of paying the wages of their work people in goods, or of requiring them to purchase goods at certain shops. This led to laborers being compelled to take goods of inferior quality at a high price. The act applies to all artificers, work men, and laborers, except those engaged in certain trades, especially iron and metal works, quarries, cloth, silk, and glass manu factories. It does not apply to domestic or agricultural servants. Sweet "In one sense, that only is true which is con formable to the actual state of things. In that sense, a statement is untrue which does not ex press things exactly as they are. But in an other and broader sense, the word 'true' is often used as a synonym of 'honest,' 'sincere,' 'not fraudulent' " Moulor v. American L. Ins. Co., Ill U. S. 345, 4 Sup. Ct. 466, 28 L. Ed. 447. —True bill. In criminal practice. The in dorsement made by a grand jury upon a bill of indictment, when they find it sustained by the evidence laid before them, and are satisfied of the truth of the accusation. 4 Bl. Comm. 306.—True, public, and notorious. These three qualities used to be formally predicated hi the libel in the ecclesiastical courts, of the charges which it contained, at the end of each article severally. Wharton. 1. An equitable or beneficial right or title to land or other property, held for the beneficiary by another person, in whom resides the legal title or ownership, recognized and enforced by courts of chan cery. See Goodwin v. McMinn, 193 Pa. 646, 44 Atl. 1094, 74 Am. St. Rep. 703; Beers v. Lyon, 21 Conn. 613; Seymour v. Freer, 8 Wall. 202, 19 L. Ed. 306. An obligation arising out of a confidence reposed in the trustee or representative, who iias the legal title to property conveyed to TRUCK ACT. In English law. TRUE. Conformable to fact; correct; ex act ; actual; genuine; honest TRUST.

him, that he will faithfully apply the prop erty according to the confidence reposed, or, in other words, according to the wishes of the grantor of the trust 4 Kent Comm. 304; Willis, Trustees, 2; Beers v. Lyon, 21 Conn. 613; Thornburg v. Buck, 13 Ind. App. 446, 41 N. E. 85. An equitable obligation, either express or implied, resting upon a person by reason of a confidence reposed in him, to apply or deal with the property for the benefit of some other person, or for the benefit of himself and another or others, according to such con fidence. McCreary v. Gewinner, 103 Ga. 528, 29 S. E. 960. A holding of property subject to a duty of employing it or applying its proceeds ac cording to directions given by the person from whom it was derived. Munroe T. Crouse, 59 Hun, 248, 12 N. T. Supp. 815. —Accessory trust. In Scotch law, this ia the term equivalent to "active" or "special" trust. See infra. —Active trust. One which imposes upon the trustee the duty of taking active measures in the execution of the trust, as, where property is conveyed to trustees with directions to sell and distribute the proceeds among creditors of the grantor; distinguished from a "passive" or "dry" trust.—-Cestui que trust. The person for whose benefit a trust is created or who is to enjoy the income or the avails of it.—Constructive trust. A {rust raised by construction of law, or arising by operation of law, as distinguished from an ex press trust. Wherever the circumstances of a transaction are such that the person who takes the legal estate in property cannot also enjoy the beneficial interest without necessarily vio lating some established principle of equity, the court will immediately raise a constructive trust, and fasten it upon the conscience of the legal owner, so as to convert him into a trus tee for the parties who in equity are entitled to the beneficial enjoyment. Hill, Trustees, 116; 1 Spence, Eq. Jur. 511. Nester v. Gross, 66 Minn 371, 69 N. W. 39; Jewelry Co. v. Volfer, 106 Ala. 205, 17 South. 525, 28 L. R. A. 707, 54 Am. St. Rep. 31.—Contingent trust. An express trust may depend for its operation upon a future event, and is then a "contingent" trust. Civ. Code Ga. 1895, § 3154.—Direct trust. A direct trust is an express trust, as distinguished from a constructive or implied trust. Currence v. Ward, 43 W. Va. 367, 27 S. E. 329.—Directory trust. One which is subject to be moulded or applied according to subsequent directions of the grantor; one which is not completely and finally settled by the instrument creating it, but only defined in its general purpose and to be carried into detail according to later specific directions.—Dry trust. One which merely vests the legal title in the trustee, and does not require, the per formance of any active duty on h'is part to carry out the trust.—Executed trust. A trust of which the scheme has in the outset been com pletely declared. Adams, Eq. 151. A trust in which the estates and interest in the subject matter of the trust are completely limited and defined by the instrument creating the trust, and require no further instruments to complete them. Bisp. Eq. 20; Pillot v. Landon, 46 N. J. Eq. 310, 19 Atl. 25; Dennison v. Goehring, 7 Pa. 177, 47 Am. Dec. 505; In re Fair's Estate, 132 Cal. 523, 60 Pac. 442, 84 Am. St. Rep. 70; Cushing v. Blake, 29 N. J. Eq. 403; Egerton v. Brownlow, 4 H. L. Cas. 210. As all trusts are executory in this sense, that the trustee is bound to dispose of the estate according to the tenure of his trust, whether