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English definition of “trust”

trust

noun
 
 
/trʌst/
[U] belief that you can depend on someone or something: Following the recent scandals the industry has to rebuild public trust. Any good business relationship is built on mutual trust. He was elected as a public official in a position of trust.
[C or U] LAW, FINANCE a legal arrangement in which you give a person or organization the right to manage money or property for a particular person or group of people that you have chosen to receive the money: In her will she set up a trust to provide scholarships for young musicians. His inheritance was held in trust until he reached 18. They consulted a solicitor on how to move the controlled trust money.
[C] LAW, FINANCE an organization that manages money or property for another person or group: set up/establish a trust The company is owned by a trust on behalf of staff. She is director of the not-for-profit trust that runs the parks.
[C] LAW, FINANCE an arrangement between two or more companies to work together illegally, for example to control prices: There are difficulties with the laws relating to illegal trusts. The agreement was found to have breached US anti trust laws.
→ See also active trust, blind trust, brains trust, breach of trust, business trust, charitable trust, constructive trust, deed of trust, discretionary trust, executed trust, executory trust, express trust, fixed trust, flexible trust, implied trust, investment trust, living trust, private trust, public trust, unit trust
(Definition of trust from the Cambridge Business English Dictionary © Cambridge University Press)
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