ABSTRACT
This chapter examines the basic concept of a trust as it applies in the South Pacific region. In the South Pacific jurisdictions the law of trusts formed part of the received law of the countries when the common law and the doctrines of equity were applied during colonial times. The chapter looks at some of the common understandings of a trust, as well as some of its conventionally accepted legal features. It describes the following types of trust: express trust, implied trust, resulting trust, constructive trust, discretionary trust, bare trust, unit trust, statutory trust, and charitable trust. The chapter considers principles that purport to differentiate a trust from other types of legal arrangement, such as agency and partnership. It provides some practical examples which illustrate how we need to distinguish between a legal trust and common understandings of trust.
