초록 열기/닫기 버튼
This paper, which is written based on the draft prepared by the Trust Act Reform Commitee of the Ministry of Justice, explains some issues regarding the trustees' duty of loyalty. Some of the provisions of the Trust Act need to be revised. First, the duty of loyalty, which is one of the basic duties of the trustee, should be a default rule. Secondly, we need to formulate a provision about the duty of loyalty. Thirdly, the provisions on the "no conflict rule" needs to be repaired. Forthly, we could make the injunctions available for the beneficiaries to prevent any breach of trust from occurring. Fifthly, as a powerful remedy for the breach of trust, provisions regarding the disorgement of secret profits need to be installed as well. Finally, we need to make priority rules about the compensation and renumeration of expenses.
키워드열기/닫기 버튼
Trust Act, duty of loyalty, no conflict rule, no profit rule, duty of fairness, the intress of the benificiaries, default rule
