Quistclose trust (English, noun)
expansion: Quistclose trust (plural Quistclose trusts)
Senses:
topics: law
glosses: 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.
Forms:
form: Quistclose trusts
tags: plural