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Meaning of “express trust” in the English Dictionary

"express trust" in Business English

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express trustnoun [C]

uk   us  
LAW a trust (= ​legalarrangement in which a ​person or ​organizationcontrols another's ​assets) whose ​conditions are ​stated by the ​person making it, rather than being ​agreed by a ​legalprocess in a ​court: An ​expresstrust is ​created by a settlor (the ​person setting up the ​trust) giving explicit ​instructions as to how his or her ​property is to be ​held.
(Definition of express trust from the Cambridge Business English Dictionary © Cambridge University Press)
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