trust

Noun: A fiduciary relationship; a matter of confidence. 54 Am J1st Trusts § 4. A confidential relationship involving a trustee, beneficiary, and a res consisting in property. 54 Am J1st Trusts § 4. The legal relationship between one person having an equitable ownership in property and another person owning the legal title to such property, the equitable ownership of the former entitling him to the performance of certain duties and the exercise of certain powers by the latter, which performance can be compelled in a court of equity or a court which follows equitable principles. 54 Am J1st Trust § 4. The separation of the same estate into parts, legal and equitable, the owner of either part being entitled to the aid of the court in establishing and enforcing his rights. McDonogh v Murdoch (US) 15 How 367, 14 L Ed 732. A monopoly. State ex rel. Watson v Standard Oil Co. 49 Ohio St 137, 30 NE 279. Verb: To have confidence in a person; to extend credit to a person. Putnal v Inman, 76 Fla 553, 80 So 316, 3 ALR 1580. The word is often employed in law, as well as in popular language, in a sense which is much broader than its ordinary technical significance, as denoting or as synonymous with confidence, fiduciary relationship, etc., and it is often used in reference to the confidential aspect of any kind of a bailment or possession by one person of the property of another. In its literal significance the word "trust" implies nurturing and sheltering of a sacred confidence. In its more technical significance, the word still implies such confidence in a relationship which involves a trustee, beneficiary, and a res. 55 Am J1st Trusts § 4. As the word is used in the law pertaining to unlawful combinations and monopolies, a "trust" in its original and typical form is a combination formed by an agreement among the stockholders in a number of competing corporations to transfer their shares to an unincorporated board of trustees, and to receive in exchange trust certificates in some agreed proportion to their stockholdings. By popular development the word has come to signify any combination, whether of producers or vendors of a commodity, for the purpose of controlling prices and suppressing competition, so that all contracts, agreements, and schemes whereby those who are competitors combine to regulate prices are called "trusts." 36 Am J1st Monop etc § 19.