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trustees

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  • stonekutteral
    I have been reading an old book on law and it says, The general rule is that a contract can confer rights or impose liabilities upon a person who is party to
    Message 1 of 1 , Sep 12, 2009
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      I have been reading an old book on law and it says, " The general rule
      is that a contract can confer rights or impose liabilities upon a
      person who is party to the contract . There are a few exceptions ,
      however . Contracts made by agents furnish apparent , but not real,
      exceptions. If a person purchases property with money belonging to
      another, there will be a resulting trust created in favor of the
      rightful owner of the money, and if a person conveys property to any
      person directing that he should hold the same for the benefit of a
      third person, the person to whom the property was transferred becomes a
      trustee for the benefit of such third person, even although he never
      agreed to the transfer nor to act as trustee" Again, " The bargain
      between the parties may be , that one of them shall confer a benefit on
      a third person. And, if the consideration for it is adequate, the
      consequence does not depend on the motive; as , whether it was to do a
      favor to the third person, or was an arrangement of convenience to the
      parties. Nor is it material in whose name the rules of practice require
      the action to be brought as , whether at law by one party against
      another, or at law, by the third person against the party promising, or
      by a suit in equity. The third person has open to him the one of these
      three methods which the particular facts and the practice of the court
      may indicate"- there has been much talk on some other sites of "the
      beneficiary to the trust" (of the "government") really being us, and
      how to tell the judge he is your trustee, and I thought this was
      related to the discussion....this has to do with the federal reserve
      notes versus united States notes issue... cheers , Al
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