common-law trust

Definition of "common-law trust"
  1. A type of trust established in a business context based on traditions and past court decisions
How to use "common-law trust" in a sentence
  1. The directors decided to form a common-law trust to manage the company's assets.
  2. Common-law trust is typically used in business to provide a more flexible structure for managing resource allocation.
  3. The lawyer suggested setting up a common-law trust to better control the business assets.

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