A trustee must act for the beneficiaries as a prudent person of business would act in his own affairs. Sir George Jessel MR said: ‘It seems to me that on general principles a trustee ought to conduct the business of the trust in the same manner that an ordinary prudent man of business would conduct his own, and that beyond that there is no liability or obligation on the trustee.’
Judges:
Sir George Jessel MR
Citations:
(1882) 22 Ch D 727, [1883] EWCA Civ 1
Links:
Jurisdiction:
England and Wales
Cited by:
Appeal from – Speight v Gaunt HL 26-Nov-1883
A trustee is required to use the same degree of prudence and diligence as a person of ordinary prudence would have done if he had been conducting his own affairs. . .
Lists of cited by and citing cases may be incomplete.
Trusts, Negligence
Updated: 29 June 2022; Ref: scu.222686