3. An Introduction to the Trust

Abstract

This chapter introduces the concept of the trust in England. It explains that the trust is a core element of Equity and its nature and function has developed over time. It discusses the fundamental principles relating to the trust, the classification of different types of trust, and identifies the rights and interests associated with them. This chapter suggests that, while many of the essential components of the modern commercial trust can be traced back to the medieval use, the context in which the trust arises today is completely different, and this has had a significant impact on the development of the contemporary law of trusts.