It is therefore clear that a trust is not a public limited company. Nor is a trust an organ of persons without legal personality, whose mutual funds are the collective property of all its members. Nor is there any basis for asserting that the legal definition of “person” in s 1 of the 1962 Act has been extended to a deceased estate and should be extended accordingly to a trust. The conclusion is inevitable that a trust is not a “person” within the meaning of that term in the 1962 Act. One refinement, though: I`m talking about private express trusts, which is the type of trusts that families use for asset management. Different types of business trusts, such as country trusts and pension trusts, are often treated as businesses rather than trusts for different legal purposes. These types of trusts may have the capacity to enter into a contract. These trusts are outside my area of expertise, so I cannot give a definitive answer. “Is a trust a legal person? Under Anglo-American Trust Law, a trust does not have legal personality. P W Duff Personality in Roman Private Law Cambridge University Press (1938) at 206: “Maitland [Collected Papers vol 3 (1911) 321-404] showed that English lawyers avoided many questions that caused difficulties abroad due to the unshakable ownership of trustees and not of companies or associations. See R W Ryan in his unpublished Cambridge doctoral dissertation entitled “The Reception of the Trust in the Civil Law” (1959) at 11: “A trust is certainly not a legal person”. The same is true in our trust law. See Commissioner for Inland Revenue against MacNeillie`s Estate1961 (3) SA 833 (A) at 840G-H: “Neither our authorities nor our courts have recognised him as persona or unit.
A law of its own has been developed by our jurisprudence and by our courts; But it`s still far from over. Die Vereinbarung spiegelte jedoch Harne Trust als Kreditnehmer wider. .