It is settled law that the trustee of any trust is unequivocally charged with the duty to invest the assets of the trust. However, in south Africa in the past, this duty has been qualified, with avoidance of risk seen as the trustee's number one priority when investing. The legislature and the judiciary focused on providing safeguards for beneficiaries and trustees were to avoid all risk to the capital of the trust. This reflected the attitude of the 19th and first half of the 20th century when the value of money had remained steady over long periods and inflation was non-existent. However, changes began to occur in world economics, such as the devaluing of currencies and progressive inflation. Despite these harsh economic realities, the courts continued for some considerable time to favour investment in interest-bearing securities. Most of the time trustees erred on the side of caution, following the judiciary's lead. Unfortunately, as it will be pointed out, this meant that the trustees were blind to their primary task, which is and always has been, to do the best for the beneficiaries. Trustees will have to expose the assets to at least some risk in order to outperform inflation, as the traditional investments are no longer suitable. This change in investment thinking was confirmed in South Africa in Administrators, Estate Richards v Nicol and Another 1999 1 SA 551 (SCA). Every trustee is, therefore, faced with a dilemma when engaging in investment decision making. He or she is under a duty to invest with the minimum of risk and also to balance the interests of competing beneficiaries. The trustee is under a duty to balance the risk against the rewards, always bearing in mind that he or she must "preserve the trust fund rather than overtly seek its advancement". Any exercise of the duty to invest will be limited by the provisions contained in the trust instrument as well as those provided for by statute, particularly the duty of care. Change occurred in English Trust Law with the introduction of the Trustee Act, 2000. The Trustee Act removes the constraints of the previous legislation and imposes positive obligations on trustees in their place, which reflect the reality of modern investment practices. Under section 1 of the Trustee Act a new uniform duty of care is created to guide trustees when performing their functions under the Act or a trust instrument. This uniformity is aimed at providing certainty and consistency in respect of the standard of competence and behaviour expected of trustees in all situations. The statutory duty of care is founded on the premise that there is a baseline standard of care expected of all trustees when investing trust assets. This standard is that of the "reasonable trustee", as referred to in section 1 (1 ) of the Trustee Act. The law in South Africa does not provide sufficient guidance for trustees, particularly in the area of trustee investment. It could certainly benefit from the sort of review that led to the changes in the English law. / Thesis (LL.M. (Estate Law))--North-West University, Potchefstroom Campus, 2006.

It is settled law that the trustee of any trust is unequivocally charged with the duty to invest the assets of the trust. However, in south Africa in the past, this duty has been qualified, with avoidance of risk seen as the trustee's number one priority when investing. The legislature and the judiciary focused on providing safeguards for beneficiaries and trustees were to avoid all risk to the capital of the trust. This reflected the attitude of the 19th and first half of the 20th century when the value of money had remained steady over long periods and inflation was non-existent. However, changes began to occur in world economics, such as the devaluing of currencies and progressive inflation. Despite these harsh economic realities, the courts continued for some considerable time to favour investment in interest-bearing securities. Most of the time trustees erred on the side of caution, following the judiciary's lead. Unfortunately, as it will be pointed out, this meant that the trustees were blind to their primary task, which is and always has been, to do the best for the beneficiaries. Trustees will have to expose the assets to at least some risk in order to outperform inflation, as the traditional investments are no longer suitable. This change in investment thinking was confirmed in South Africa in Administrators, Estate Richards v Nicol and Another 1999 1 SA 551 (SCA). Every trustee is, therefore, faced with a dilemma when engaging in investment decision making. He or she is under a duty to invest with the minimum of risk and also to balance the interests of competing beneficiaries. The trustee is under a duty to balance the risk against the rewards, always bearing in mind that he or she must "preserve the trust fund rather than overtly seek its advancement". Any exercise of the duty to invest will be limited by the provisions contained in the trust instrument as well as those provided for by statute, particularly the duty of care. Change occurred in English Trust Law with the introduction of the Trustee Act, 2000. The Trustee Act removes the constraints of the previous legislation and imposes positive obligations on trustees in their place, which reflect the reality of modern investment practices. Under section 1 of the Trustee Act a new uniform duty of care is created to guide trustees when performing their functions under the Act or a trust instrument. This uniformity is aimed at providing certainty and consistency in respect of the standard of competence and behaviour expected of trustees in all situations. The statutory duty of care is founded on the premise that there is a baseline standard of care expected of all trustees when investing trust assets. This standard is that of the "reasonable trustee", as referred to in section 1 (1 ) of the Trustee Act. The law in South Africa does not provide sufficient guidance for trustees, particularly in the area of trustee investment. It could certainly benefit from the sort of review that led to the changes in the English law. / Thesis (LL.M. (Estate Law))--North-West University, Potchefstroom Campus, 2006.

The trustee has a fiduciary responsibility towards the parties with an interest in the trust. The parties with an interest in the trust may have certain expectations and requirements of the trustee. The main responsibility and accountability ascribed to and expected of the trustee are for the proper maintenance and administration of the trust and its assets. The parties with an interest in the trust may be classified according to how closely involved or affected they are by the existence of the trust. The parties closest to the trust are listed as the founder, beneficiaries and co-trustees. Parties with a judiciary, legislative and administrative interest in the trust include the Master of the High Court, the High Court and the auditors as well as accountants of the trust. The parties with an interest in the trust may not be satisfied with the actions or performance of the trustee. These parties may seek actions and remedies to hold the trustee accountable. These actions and remedies may be found in legislation, the literature, common law or court judgements. It would also be in the trustee’s interest to be informed of the different actions and remedies that could be utilised to hold him accountable. Different types of action are available to hold the trustee accountable, including civil and criminal remedies. The Trust Property Control Act 57 of 1988 does not provide for criminal remedies, but provides an array of civil remedies to hold trustees accountable. The Aquilian action is also available to parties to hold a trustee accountable who committed a breach of trust. The focus of the mini-dissertation is to determine the landscape of remedies and actions available to parties with an interest in the trust in order to hold the trustee accountable. / LLM (Estate Law), North-West University, Potchefstroom Campus, 2015

The trustee has a fiduciary responsibility towards the parties with an interest in the trust. The parties with an interest in the trust may have certain expectations and requirements of the trustee. The main responsibility and accountability ascribed to and expected of the trustee are for the proper maintenance and administration of the trust and its assets. The parties with an interest in the trust may be classified according to how closely involved or affected they are by the existence of the trust. The parties closest to the trust are listed as the founder, beneficiaries and co-trustees. Parties with a judiciary, legislative and administrative interest in the trust include the Master of the High Court, the High Court and the auditors as well as accountants of the trust. The parties with an interest in the trust may not be satisfied with the actions or performance of the trustee. These parties may seek actions and remedies to hold the trustee accountable. These actions and remedies may be found in legislation, the literature, common law or court judgements. It would also be in the trustee’s interest to be informed of the different actions and remedies that could be utilised to hold him accountable. Different types of action are available to hold the trustee accountable, including civil and criminal remedies. The Trust Property Control Act 57 of 1988 does not provide for criminal remedies, but provides an array of civil remedies to hold trustees accountable. The Aquilian action is also available to parties to hold a trustee accountable who committed a breach of trust. The focus of the mini-dissertation is to determine the landscape of remedies and actions available to parties with an interest in the trust in order to hold the trustee accountable. / LLM (Estate Law), North-West University, Potchefstroom Campus, 2015

Rights and duties of the insolvency trustee in bankruptcy The topic of this Master's thesis is rights and duties of the insolvency trustee in bankruptcy. The aim of the thesis is to describe activities of insolvency trustee that are related to the solution of debtor's decline by bankruptcy. The insolvency trustee is an important subject of insolvency proceedings; in the case of bankruptcy his task is primarily related to activities associated with the estate, with its liquidation and distribution of proceeds. First chapter focuses on insolvency proceedings in general. First part deals with historical context; second part analyzes the process of insolvency proceedings with a respect to different ways of resolving the debtor's decline - reorganization, discharge from debts and specific ways (i.e. a slight decline and the bankruptcy of financial institutions). In the next chapter, the bankruptcy is discussed as another way how to solve the debtor's decline, regarding to the subject of the thesis. The third chapter is divided to two sections. The first analyzes the term "insolvency trustee" and also defines specific types of this subject of insolvency proceedings. Individual subsections focus on the each specific type. The second section deals with responsibility of insolvency trustee. The last and...

1 Administration of property of others - trusts Abstract The main objective of this thesis is to provide a detailed and systematical view of the new regulation of the institution of the trust in the Czech republic using the descriptive, analytical and comparative method. The work is divided into seven parts. Part 1 of this study is focused on defining the concept of the trust and its creation. It deals with its theoretical background and its fundamental constitutive elements. Part 2 describes the founder and his role at the creation of the trust and during its existence. In this part it is also discussed the question of reservation of rights to the appropriated property made by the founder. Part 3 of this thesis is concerned with the of administration of the trust. Primarily, this part focuses on the role of the trustee and his duties towards the trust and to the beneficiary, as well as his duties to third parties. The author also explores the question of an objective and impartial administration of the trust where the founder or the person who is to receive a performance from the trust is also the trustee, as well as the question of appointment and removing the trustee. Part 4 deals with the beneficiary and his right to receive a performance from the trust. It is also concerned with the way of appointing...

1 Administration of property of others - trusts Abstract The main objective of this thesis is to provide a detailed and systematical view of the new regulation of the institution of the trust in the Czech republic using the descriptive, analytical and comparative method. The work is divided into seven parts. Part 1 of this study is focused on defining the concept of the trust and its creation. It deals with its theoretical background and its fundamental constitutive elements. Part 2 describes the founder and his role at the creation of the trust and during its existence. In this part it is also discussed the question of reservation of rights to the appropriated property made by the founder. Part 3 of this thesis is concerned with the of administration of the trust. Primarily, this part focuses on the role of the trustee and his duties towards the trust and to the beneficiary, as well as his duties to third parties. The author also explores the question of an objective and impartial administration of the trust where the founder or the person who is to receive a performance from the trust is also the trustee, as well as the question of appointment and removing the trustee. Part 4 deals with the beneficiary and his right to receive a performance from the trust. It is also concerned with the way of appointing...

In a recent judgment by the Free State Provincial Division of the High Court of South Africa it was decided that a trustee who resigns is only relieved from his duties when his name is removed from the letter of authority by the Master of the High Court. This judgment has caused many questions to be raised regarding the implications of the resignation by a trustee. This judgment and the current legal position of the resigning trustee are investigated in this dissertation. The legal position of the resigning trustee seems to be uncertain, and the mentioned judgment should not be unreservedly accepted as correct. The role and responsibility of the Master of the High Court in this process is considered, as well as the legal position of the resigning trustee, the remaining trustees and third parties contracting with the trust. Certain conclusions are drawn and recommendations are made regarding this aspect of South African trust law. / Thesis (LL.M. (Estate Law))--North-West University, Potchefstroom Campus, 2009.

In a recent judgment by the Free State Provincial Division of the High Court of South Africa it was decided that a trustee who resigns is only relieved from his duties when his name is removed from the letter of authority by the Master of the High Court. This judgment has caused many questions to be raised regarding the implications of the resignation by a trustee. This judgment and the current legal position of the resigning trustee are investigated in this dissertation. The legal position of the resigning trustee seems to be uncertain, and the mentioned judgment should not be unreservedly accepted as correct. The role and responsibility of the Master of the High Court in this process is considered, as well as the legal position of the resigning trustee, the remaining trustees and third parties contracting with the trust. Certain conclusions are drawn and recommendations are made regarding this aspect of South African trust law. / Thesis (LL.M. (Estate Law))--North-West University, Potchefstroom Campus, 2009.

The history of the art museum's growth in America is presented in this thesis to place the development of the public art museum in the proper context. The museum has absorbed its sense of worth and power from the people who shaped its policy and believed in its ability to accomplish positive feats. Its growth as a force in the art world was subtle and studied, but amazingly complete. The museum which doubts its ability to persuade, convince, educate and entertain does not long survive. Examining the people and their attitudes with whom the museums had the most contact and noting its response to the world in which it has operated, the parallels are strikingly similar. The museum is strong because groups contributed to its growth and maturity; its weaknesses are those in which the three factions were also less effective. There are no hard and fast truths to prove this theory -- but examination of its plausability is a valuable tool for understanding how the museum became such an important institution of our time.