In managing a trust business the trustee should exercise the same care as an ordinary, prudent business person would exercise in conducting that business as if it were his or her own
Judges:
Lord Halsbury LC
Citations:
[1887] UKHL 1, (1887) LR 12 App Cas 727, (1887) 12 AC 727
Links:
Jurisdiction:
England and Wales
Citing:
Appeal from – In re Whiteley, Whiteley v Learoyd CA 1886
The trustees were charged with making unauthorized or improper investments, and the claim was that the trusts of the will relating to the sums invested should be carried into execution under the direction of the court and that the trustees might be . .
Cited by:
Cited – Pullan v Wilson and Others ChD 28-Jan-2014
The court was asked difficult questions concerning the reasonableness of the remuneration charged to a number of family trusts by a professional trustee.
Held: Excessive claims for fees had been made, and the trustees were ordered to repay . .
Lists of cited by and citing cases may be incomplete.
Trusts
Updated: 13 July 2022; Ref: scu.263827