Law School Discussion

Nine Years of Discussion
;

Author Topic: trusts and consideration  (Read 345 times)

Wild Jack Maverick

  • Sr. Citizen
  • ****
  • Posts: 153
  • "I think I know the formula..."
    • View Profile
    • Email
trusts and consideration
« on: September 19, 2006, 04:34:27 PM »
A settlor designates that a trust is a gift with no consideration other than love and affection.

Is the love and affection enforceable??
"I enjoy being in school. I've learned so much already, with taking economics and law, and I have marketing and statistics coming up next."

Strong

  • Sr. Citizen
  • ****
  • Posts: 398
    • View Profile
Re: trusts and consideration
« Reply #1 on: September 19, 2006, 05:08:18 PM »
I would say no, it is not a bargained for exchange, it's a conditional gratuitous promise

J D

  • Sr. Citizen
  • ****
  • Posts: 1388
  • Lust isn't one of the 7 Deadly Sins for nothing...
    • View Profile
Re: trusts and consideration
« Reply #2 on: September 19, 2006, 07:11:41 PM »
A PROMISE to make a gift is gratuitous and unenforceable.  Has he executed the trust instrument/gift? 
"I never think of the future.  It comes soon enough."--Albert Einstein