trust fund doctrine

trust fund doctrine
trust fund doctrine n: a doctrine holding that shareholders to whom assets of an insolvent corporation have been transferred are liable to creditors upon dissolution of the corporation; broadly: a doctrine holding that corporate assets are held as a trust fund for the benefit of shareholders and creditors and that corporate officers have a fiduciary duty to deal with them properly

Merriam-Webster’s Dictionary of Law. . 1996.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • trust fund doctrine — The principle, commonly known as the American doctrine, that the property of a corporation must be appropriated to the payment of debts before any assets are distributed among stockholders. Wood v Dummer (CC Me) 3 Mason 308, F Cas No 17944;… …   Ballentine's law dictionary

  • equitable trust fund doctrine — See trust fund doctrine …   Ballentine's law dictionary

  • trust fund theory or doctrine — Generic term used in many contexts to describe the imposition of fiduciary obligations on persons who control money or property of another under certain circumstances. A creature of equity which operates to treat officers, directors, or majority… …   Black's law dictionary

  • trust fund theory — or doctrine Generic term used in many contexts to describe the imposition of fiduciary obligations on persons who control money or property of another under certain circumstances. A creature of equity which operates to treat officers, directors,… …   Black's law dictionary

  • trust fund theory — See trust fund doctrine; trust fund immunity …   Ballentine's law dictionary

  • trust — A legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the state and the valid trust instrument. The trustee holds a fiduciary responsibility to manage the trust s corpus assets and income for the… …   Black's law dictionary

  • Doctrine of parity — The doctrine of parity was used to justify agricultural price controls in the United States beginning in the 1920s. It was the belief that farming should be as profitable as it was between 1909 and 1914, an era of high food prices and farm… …   Wikipedia

  • Discretionary trust — Wills, trusts and estates …   Wikipedia

  • Constructive trust — Wills, trusts and estates …   Wikipedia

  • Purpose trust — Wills, trusts and estates …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”