Irina Gvelesiani

Interpretation Of The Origin Of “trust” On The Basis Of The In-Depth Terminological Analysis

FIAT IUSTITIA, 2015, vol. 9, issue 1, 76-82

Abstract: “Trust is an element that has been approached in the last decades by many disciplines and through many and varied means”. It is usually defined as a legal agreement under which a “settler” transfers property to a “trustee”, who has to exercise and manage it for the benefit of a “beneficiary” – an equitable and a beneficial owner of the property. Trust relationships become more and more popular in legal, commercial and non-commercial spheres of today’s life. Some researchers believe, that this legal institution originated in England at the end of the Middle Ages. However, certain studies indicate, that the initial “trust-like devices” existed even in the earlier times. Their existence stipulated the origination of the unique common law “trust” institution. The given paper is dedicated to the interpretation of the origin of “trust” on the basis of the in-depth terminological analysis of the earliest “trust-like devices”. It makes an attempt to answer the question of its purely Roman roots. The parallel is drawn between the ancient and medieval institutions.

Keywords: beneficiary; fiducia; trust; trust-like device (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:dcu:journl:v:9:y:2015:i:1:p:76-82

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