Trust operating a commercial enterprise - Legal lexicon
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Legal lexicon > Trust operating a commercial enterprise

Trust operating a commercial enterprise

"A trust results from an act whereby a person, the settlor, transfers property from his patrimony to another patrimony constituted by him which he appropriates to a particular purpose (in this case for commercial purposes) and which a trustee undertakes, by his acceptance, to hold and administer." (Section 1260 of the Civil Code of Quebec)

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