Quistclose trust

名词 n.

英文释义

名词 n.
  1. A trust created where a creditor has lent money to a debtor for a particular purpose. If the debtor uses the money for other purposes, it is held on trust for the creditor. Any inappropriately spent money can then be traced and returned to the creditor.

词形变化

Quistclose trusts plural

词源

In reference to the 1968 case of Barclays Bank Ltd v Quistclose Investments Ltd.
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