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Thread: Law of Trusts

  1. #41
    A synonym for estate is interest:

    Bouvier's Law Dictionary, 1856

    INTEREST, estates. The right which a man has in a chattel real, and more particularly in a future term. It is a word of less efficacy and extent than estates, though, in legal understanding, an interest extends to estates, rights and titles which a man has in or out of lands, so that by a grant of his whole interest in land, a reversion as well as the fee simple shall pass. Co. Litt. 345.

    INTEREST, contracts. The right of property which a man has in a thing, commonly called insurable interest. It is not easy to give all accurate definition of insurable interest. 1 Burr. 480; 1 Pet. R. 163; 12 Wend. 507 16 Wend. 385; 16 Pick. 397; 13 Mass. 61, 96; 3 Day, 108; 1 Wash. C. C. Rep. 409.

    2. The policy of commerce and the various complicated. rights which different persons may have in the same thing, require that not only those who have an absolute property in ships and goods, but those also who have a qualified property therein, may be at liberty to insure them. For example, when a ship is mortgaged, after, the mortgage becomes absolute, the owner of the legal estate has an insurable interest, and the mortgagor, on account of his equity, has also an insurable interest. 2 T. R. 188 1 Burr. 489; 13 Mass. 96; 10 Pick. 40 and see 1 T. R. 745; Marsh. Ins. h. t.; 6 Meeson & Welshy, 224.

    3. A man may not only insure his own life for the benefit of his heirs or creditors, and assign the benefit of this insurance to others having thus or otherwise an interest in his life, but be may insure the life of another in which he may be interested. Marsh. Ins. Index, h. t.; Park, Ins. Index, h. t.; 1 Bell's Com. 629, 5th ed.; 9 East, R. 72. Vide Insurance.

    INTEREST, evidence. The benefit which a person has in the matter about to be decided and which is in issue between the parties. By the term benefit is here understood some pecuniary or other advantage, which if obtained, would increase the, witness estate, or some loss, which would decrease it.

    2. It is a general rule that a party who has an interest in the cause cannot be a witness. It will be proper to consider this matter by taking a brief view of the thing or subject in dispute, which is the object of the interest; the quantity of interest; the quality of interest; when an interested witness can be examined; when the interest must exist; how an interested witness can be rendered competent.

    3. - 1. To be disqualified on the ground of interest, the witness must gain or lose by the event of the cause, or the verdict must be lawful evidence for or against him in another suit, or the record must be an instrument of evidence for or against him. 3 John. Cas. 83; 1 Phil. Ev. 36; Stark. Ev. pt. 4, p. 744. But an interest in the question does not disqualify the witness. 1 Caines, 171; 4 John. 302; 5 John. 255; 1 Serg. & R. 82, 36; 6 Binn. 266; 1 H. & M. 165, 168.

    4. - 2. The magnitude of the interest is altogether immaterial, even a liability for the most trifling costs will be sufficient. 5 T. R. 174; 2 Vern. 317; 2 Greenl. 194; 11 John. 57.

    5. - 3. With regard to the quality, the interest must be legal, as contradistinguished from mere prejudice or bias, arising from relationship, friendship, or any of the numerous motives by which a witness may be supposed to be influenced. Leach, 154; 2 St. Tr. 334, 891; 2 Hawk. ch. 46, s. 25. It must be a present, certain, vested interest, and not uncertain and contingent. Dougl. 134; 2 P. Wms. 287; 3 S. & R. 132; 4 Binn. 83; 2 Yeates, 200; 5 John. 256; 7 Mass. 25. And it must have been acquired without fraud. 3 Camp. 380; l M. & S. 9; 1 T. R. 37.

    6. - 4. To the general rule that interest renders a witness incompetent, there are some exceptions. First. Although the witness may have an interest, yet if his interest is equally strong on the other side, and no more, the witness is reduced to a state of neutrality by an equipoise of interest, and the objection to his testimony ceases. 7 T. R. 480, 481, n.; 1 Bibb, R. 298; 2 Mass. R. 108; 2 S. & R. 119; 6 Penn. St. Rep. 322.

    7. Secondly. In some instances the law admits the testimony of one interested, from the extreme necessity of the case; upon this ground the servant of a tradesman is admitted to prove the delivery of goods and the payment of money, without any release from the master. 4 T. R. 490; 2 Litt. R. 27.

    8. - 5. The interest, to render the witness disqualified, must exist at the time of his examination. A deposition made at a time when the witness had no interest, may be read in evidence, although he has afterwards acquired an interest. 1 Hoff. R. 21.

    9. - 6. The objection to incompetency on the ground of interest may be removed by an extinguishment of that interest by means of a release, executed either by the witness, when he would receive an advantage by his testimony, or by those who have a claim upon him when his testimony would be evidence of his liability. The objection may also be removed by payment. Stark. Ev. pt. 4, p. 757. See Benth. Rationale of Jud. Ev. 628-692, where he combats the established doctrines of the law, as to the exclusion on the ground of interest; and Balance.

  2. #42
    Quote Originally Posted by motla68 View Post
    This is why I would like to get a couple private trusts established ....
    Would not a private trust be solemnized in written form as well as conducted privately outside the sphere of the public?

    Quote Originally Posted by motla68
    in which the equity can be deposited, ....
    When you say deposited, does this mean deposit as in an account or deposit as in vested into and robed upon a person?

    Quote Originally Posted by motla68
    also making sure there is no liens beforehand though of course.
    A lien is a security interest. Liens cannot be issued upon a given res (thing) unless registered.

    Registration grants interest (estate) in the res (thing).

    Quote Originally Posted by motla68
    The receipts can be returned to treasury and everybody gets what they want.
    The receipts are returned to the Treasury for accounting, correct?
    Also, what accounts would the Treasury balance?
    This sounds very similar to what I hear from Vic Beck.
    Last edited by shikamaru; 04-03-11 at 08:16 PM.

  3. #43
    Senior Member motla68's Avatar
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    Quote Originally Posted by shikamaru View Post
    A synonym for estate is interest:
    This is of my latest goals is to become more knowledgeable about trust law and equity. Still learning some of the ropes in that aspect. Thank you

  4. #44
    Senior Member motla68's Avatar
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    My answers will be in bold within your quote.

    Quote Originally Posted by shikamaru View Post
    Would not a private trust be solemnized in written form as well as conducted privately outside the sphere of the public?

    Yes, this is why they call it a private trust.


    When you say deposited, does this mean deposit as in an account or deposit as in vested into and robed upon a person?

    Deposited into a secure location within my camp/sanctuary, most likely the one called a filing cabinet.

    A lien is a security interest. Liens cannot be issued upon a given res (thing) unless registered.

    Registration grants interest (estate) in the res (thing).

    They can also get liens against them if any estate property is entered into the monetary system, wise to have 2, one for the private and the other for the public, One has no connection to the other, other then hiring out persons to do specific jobs. And I know what your next question will be on this so just going to answer it anyway before you ask, equity trust cannot enter into a monetary system it would be a mistake, they can however be paid in goods and services. I would prefer it this way, but we all have that monetary addiction right now.



    The receipts are returned to the Treasury for accounting, correct?
    Yes
    Also, what accounts would the Treasury balance?
    The bond which created the energy so the Bureau of Engraving can print money for the Federal Reserve System.
    We are getting away from paper though and everything is going electronic, keep the money in the treasury and these bonds do not have to be cut that need to be settled later that were used to print the money.

    This sounds very similar to what I hear from Vic Beck.
    Yes, I imagine it would, because a lot of information that we got was from the private canadian group that Vic Beck got booted out of I have been told.
    Also every now an then Vic contacts me privately to ask how we did this and how we did that because I comment on his blog posts, not too often though. I do not ask him about getting booted out, he had probably been through enough embarrassment already.

  5. #45
    Senior Member Michael Joseph's Avatar
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    Quote Originally Posted by shikamaru View Post
    Is a trust an estate?
    The Estate is what is being Held in Trust. So one could say the Estate = Trust Corpus. The Trustee STANDS for the Estate and the Beneficiary receives the benefit of the Estate held in Trust by the Trustee.
    The blessing is in the hand of the doer. Faith absent deeds is dead.

    Lawful Money Trust Website

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  6. #46
    If you are going to study trusts, you will want to also study tenures, uses, and feudal land law.

    If you are going to study equity, you will want to also study English Common Law as well as the Law of Remedies.
    Equity is a remedial form of law as well as a branch of the law of remedies as far as divisions and taxonomy goes.

    Studying trusts also involve rights, titles, and property both real and personal.

    C.C. Langdell has an awesome book on Equity jurisdiction titled A Brief Survey of Equity Jurisdiction.

  7. #47
    Quote Originally Posted by motla68
    They can also get liens against them if any estate property is entered into the monetary system, wise to have 2, one for the private and the other for the public, One has no connection to the other, other then hiring out persons to do specific jobs. And I know what your next question will be on this so just going to answer it anyway before you ask, equity trust cannot enter into a monetary system it would be a mistake, they can however be paid in goods and services. I would prefer it this way, but we all have that monetary addiction right now.
    This is quite similar to my public/private model .

  8. #48
    Quote Originally Posted by Michael Joseph View Post
    The Trustee STANDS for the Estate and the Beneficiary receives the benefit of the Estate held in Trust by the Trustee.
    Perhaps this is from where having "standing in court" descends?

    Perhaps also this would be an excellent time to bring up the concept of wardship?

  9. #49
    Senior Member Michael Joseph's Avatar
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    Quote Originally Posted by shikamaru View Post
    If you are going to study trusts, you will want to also study tenures, uses, and feudal land law.

    If you are going to study equity, you will want to also study English Common Law as well as the Law of Remedies.
    Equity is a remedial form of law as well as a branch of the law of remedies as far as divisions and taxonomy goes.

    Studying trusts also involve rights, titles, and property both real and personal.

    C.C. Langdell has an awesome book on Equity jurisdiction titled A Brief Survey of Equity Jurisdiction.
    this is an interesting read

    Attachment 222

    be careful when you read. In fact the Equitable Title can be transferred in fee simple Forever without ever touching the Legal Title. Ever look at a GENERAL WARRANTY DEED? Maybe you should.
    Last edited by Michael Joseph; 04-03-11 at 11:27 PM.
    The blessing is in the hand of the doer. Faith absent deeds is dead.

    Lawful Money Trust Website

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  10. #50
    Senior Member Michael Joseph's Avatar
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    Quote Originally Posted by shikamaru View Post
    Perhaps this is from where having "standing in court" descends?

    Perhaps also this would be an excellent time to bring up the concept of wardship?
    ah yes. This is the root. I have pointed many a reader to the definition of LEGAL.

    You make another excellent point. One who would usurp the Trustee is totally incompetent. Trustee de son Tort.
    The blessing is in the hand of the doer. Faith absent deeds is dead.

    Lawful Money Trust Website

    Divine Mind Community Call - Sundays 8pm EST

    ONE man or woman can make a difference!

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