The bank sued Swanepoel, claiming that Swanepoel had entered into the contracts in his capacity as agent of the Harne Trust. We would like to know what you think of this article and how we could improve it. Please let us know. However, we cannot answer your specific questions. If you have a question about a document, please contact us. Guidance is not financial or other advice and does not take into account your personal financial circumstances. For this reason, it is recommended that you speak with an accredited broker or financial advisor to review all your options and create a plan to achieve your financial goals. Swanepoel stated that the contracts between the bank and the Trust, not the bank and himself in his capacity as agent of the trust. The applicants (who were also close family members of the defendant) argued that the defendants were at risk of violating the self-service rule. On the other hand, the applicant parties argued, referring to the authority, that there could be no diabolical motive for the application of the rule of self-exchange to the autonomous exercise of a right granted before the creation of the treuhand, which is therefore a departure from the applied rule of self-service.
This case is important for tenants who wish to acquire ownership of a property; It is a reminder of the distinction between the rights of tenants and agents when acquiring the property. The judge found that the defendants were tenants under the tenancy agreement before the husband became an agent because the lease was entered into before he was appointed agent. On this basis, the rule of self-denaling did not apply. (Standard Bank v Johannes Gerhardus Swanepoel NO [2015) ZASCA 71]. Standard Bank has made available to the Harne Trust, represented by agent Johannes Swanepoel, an agricultural loan and a business cheque account. The beneficiary is the person who is of the trust company. It may be a grandchild, for example, if a grandparent leaves them money when he dies. A beneficiary has the right to compel an agent to comply with the terms of the trust deed – it is in the interest of the beneficiary. A well-known principle of the right of guardianship is that agents should not place themselves in a position where their personal interests are in conflict with their strict duty as agents. This TRUST SALE AGREEMENT will be concluded on December 17, 2014 between ALLY AUTO ASSETS LLC, a limited liability company in Delaware (the “depositor”) and ALLY AUTO RECEIVABLES TRUST 2014-3, a Delaware legal trust (the “issuing entity”). The taxation of trusts is determined by “current law.” Simply put, for all income received by the trust, they are taxed if the beneficiary or beneficiaries are entitled to that income.
If they are not entitled to the income, the agent is taxed. At a recent seminar in Toronto, one participant mentioned how a trust cannot enter into a contract. So I asked Amy Morris Hess. She teaches at the University of Tennessee College of Law and is a leading authority on trusts and rebates. (She succeeds the principal trustee, Trusts and Trustees.) Here`s what she said: In this case, the legal person who runs the business is Snow White in its personal quality. Blooming White is not a corporation. It will be the name “Snow White” that will have to appear in contracts such as leases or service contracts, and Snow will have to execute these documents.