Contents -- Contributors -- Preface -- Note on translation -- 1 Trusts: the essentials -- I Introduction -- II Essential features of a trust -- A. Trustee and trust assets: the trustee's powers of management and alienation -- B. Third parties and trust assets -- C. Beneficiary and the trust assets / third parties -- D. Trustee and beneficiary - check and balance -- 1. Honesty and good faith -- 2. Duty to keep accurate financial records and provide information -- 3. Rights in personam -- III Conclusion -- 2 The civil law trust: a modality of ownership or an interlude in ownership? -- I Introduction -- II Fiducie as a modality of ownership -- A. The theoretical possibility of fiduciary ownership in civil law -- B. The recognition of fiduciary ownership in the realm of practice: the example of France's civil law -- III The fiducie as interlude to ownership? -- A. The recognition of a patrimony by appropriation separated from the notion of a real right: the example of Quebec's civil law -- B. Can the fiducie cut all ties to ownership? -- IV Conclusion -- 3 How to square the circle? The challenge met by Swiss insolvency law in dealing with common law trusts -- I Introduction -- II Ring-fencing effect versus the principle of 'unity of patrimony' -- A. Ring-fencing: the heart of the concept of trusts -- B. 'Unity of patrimony' as illustrated in the fiducie of Swiss law -- C. Reconciling the principles: pre-existing ring-fenced funds under Swiss law -- D. Implementation of the ring-fencing effect of trusts in Swiss debt enforcement (art. 284b DEBA) -- III The ring-fencing effect and the publication of a trust in Swiss public registers -- A. Publication of trusts under article 12 of the Convention and article 149d PILA.

B. Effects of publication and non-publication on good faith third-party purchasers -- C. Effects of publication and non-publication of the trust on the segregation of trust assets -- IV Collection of debts regularly incurred in the management of the trust -- A. Debt liability regime under the law applicable to the trust -- 1. Traditional approach to debt liability -- 2. Modern approach to debt liability -- B. Debt collection proceedings in Switzerland -- 1. Debt collection against the trustee's personal estate -- 2. Debt collection against the trust fund (art. 284a DEBA) -- (a) General -- (b) 'Personification' of the trust? -- V Conclusion -- 4 Can a modern legal system do without the trust? -- I Introduction -- II Keeping the trust out of the new Dutch Civil Code -- A. No fiduciary ownership -- B. No separate estates -- III The main trouble with having no trust -- A. Monies held for third parties -- B. Fungible securities held for third parties -- C. Security trustee in loan transactions -- D. General concluding remarks -- IV Examples where the trust is creeping back in -- A. Client monies held by specific professionals -- B. Fungible securities held for third parties -- C. Agency -- D. Collective investment schemes -- E. The Hague Trusts Convention -- F. Concluding remarks -- V Conclusion -- 5 Stateless trusts -- I Introduction -- II Its my trust, Ill choose the legal system -- III Conclusion -- 6 The security fiducie in French law -- I Introduction -- A. The security fiducie: a triangular plot with multiple variations -- B. Advantages of the security fiducie -- C. The duality in categories of security fiducies -- D. The characteristic common to all security fiducies: ownership appropriated to a purpose -- E. Outline -- II The innominate security fiducie.

A. Difficulties in gaining recognition by the courts -- 1. The pledge of ready money, a security fiducie well established in case law -- 2. The legal framework of the pledge of ready money -- 3. The assignment of claims as a security, a security fiducie discounted by the courts -- B. Its repeated recognition by legislation -- 1. The security fiducie, an institution with widespread approval in the field of banking and finance -- 2. Assignment of business claims as a security -- 3. Financial collateral arrangements: characterization as security fiducie -- 4. The advantage which comes from the absence of a patrimony by appropriation -- III The nominate security fiducie -- A. The legal nature of the nominate security fiducie -- 1. A title-based security with a patrimony by appropriation: a protected exclusive right -- (a) The exclusivity of the right of ownership -- (b) Patrimony by appropriation -- 2. Title-based security without prohibitive disadvantages -- (a) Making the property available in favour of the settlor -- (b) Recharging -- B. The legal framework of the security fiducie -- 1. Establishment of the fiducie -- (a) The people involved -- (b) Particulars which must be included -- (c) The formalities with respect to taxation -- (d) The irrevocability of the security -- 2. Recharging the fiducie -- (a) The principle -- (b) The modalities -- 3. Enforcement of the security -- (a) Enforcement outside of a collective proceeding -- (b) Enforcement at the time of a collective proceeding -- IV Conclusion -- 7 The trustee: mainspring, or only a cog, in the French fiducie? -- I Introduction -- A. Are trusts and French law sibling rivals? -- B. Concept -- C. Diversity of the trustees roles -- D. The trustee as key element of the fiducie mechanism -- E. An array of legal capacities -- F. Outline.

II The trustee as dependent contracting party -- A. The concept of dependence -- B. The pre-eminence of the settlor -- C. The trustee's liability: a paradoxical sketch -- 1. Nature of the trustees liability -- 2. Conditions on the trustee's liability -- III The trustee as diminished owner -- A. Gaping holes in the attributes of trustee as owner -- B. The sword of Damocles hanging over the trustee as owner -- C. The aborted attempt at divided ownership in the fiducie -- IV Conclusion -- 8 British colonial law and the establishment of family waqfs by Arabs in the Straits Settlements, 1860-1941 -- I Introduction -- II Charitable endowments in the British Empire -- III Background of British knowledge on the waqf -- IV Dominance of colonial law -- V Law reports -- VI Posterity denied: rule against perpetuities -- VII Charity -- VIIIDiasporic complications -- Multiple translations of wills -- IX Female testators and heirs -- X Conclusion -- 9 Zionist settlers and the English private trust in Mandate Palestine -- I Introduction: colonized settlers and the colonizer's law -- II A lawyer rebuffed: Mordechai Eliash's family trust and the Mandate authorities -- III Trusts in action: private trusts in Zionist settler practice -- A.Haavara -- B. Mheiman and Himnuta -- C. Use of nominee landowners -- IV Zionist settler jurists debate the trust -- V Conclusion: the law of trusts as a liminal site of legal transplantation -- 10 Jurisprudential milestones in the development of trust law in South Africa's mixed legal system -- I Introduction -- II The courts - principal constructors -- A. Alignment -- B. Innovation -- III The legislature - limited contribution -- A. 'Trust' legislatively defined -- B. Duty of care codified -- IV Writers - critical impetus -- V Conclusion -- 11 The framing of a European law of trusts -- I Introduction.

II The Hague Trusts Convention and its impact within the EU -- A. Recent developments -- B. The effect of these developments -- III Attempts to render European trust law uniform -- A. Book X on 'Trusts' of the Draft Common Frame of Refe rence -- B. The proposed Directive on protected funds -- C. Differences and commonalities -- IV Feasibility of the two academic proposals -- A. Book X of the DCFR -- B. The draft Directive on protected funds -- C. A comparison -- V Is there a need for a uniform European law of trusts? -- VI The necessary steps for a unification of trust law in Europe -- VII Conclusion -- 12 The dilution of the trust -- 13 The compatibility of the trust with the civil law notion of property -- I Introduction -- II Property and ownership -- III Two points about trusts -- IV Property in the civil law -- V The problem -- VI Patrimony44 -- VII Preventive justice -- VIII Bright line solutions -- IX The trust as fuzzy line solution -- X Fuzzy lines for all -- XI Civil law developments -- 14 Categorically different: unintended consequences of trust taxonomy -- I The classification of trusts in the common law -- II The classification of trusts in the C.C.Q. -- III Relevance of common law classifications in Quebec -- IV The non-anomalous, non-charitable trust for purposes under the C.C.Q. -- V Conclusion: the evolution of Quebec trust law -- 15 Why civil law countries might forego the individual trustee: provocative insights from the new-to-the-fold -- I Introduction -- II The common law requirements of the fiduciary office -- A. Fundamental requirements of the common law fiduciary office -- B. Corporations as trustees -- C. Fiduciary regulation -- D. Continued appeal of the individual trustee under the common law -- III The civil law trustee -- A. Historical discomfort -- B. The trust nevertheless.

C. Who or what can serve.