Common-Law Trust

Common-Law Trust

More commonly known as a Business Trust or a Massachusetts trust. A business organization for investment purposes by which trustees manage and control property for the benefit of beneficiaries who are protected against personal liability for any losses incurred.

References in periodicals archive ?
A fourth variation involved an otherwise standard form of common-law trust that was settled under the laws of a foreign tax-haven jurisdiction, with the funds deposited in a local bank in that tax haven.
The notes will be issued in series by special purpose Delaware statutory or common-law trusts and each series of notes will be secured by one or more funding agreements issued by Protective Life.