A 'Bear Hug' in corporate takeovers refers to an acquisition offer made by a potential suitor at a price significantly higher than the target company's current market value. If the target company's management resists the offer, it risks violating its fiduciary duty to act in the shareholders' best interests.
A charitable trust is a type of trust that is established to provide financial support to one or more charitable organizations, aimed at fulfilling philanthropic goals and benefiting the public.
The practice of mixing personal funds with client or customer funds by a fiduciary or trustee, which is generally prohibited by law unless an exact accounting is maintained.
A QTIP trust allows a grantor to provide income for their surviving spouse and designate other beneficiaries for the remaining trust assets after the surviving spouse's death.
Representation involves professional assistance or fiduciary advocacy in a transaction or negotiation, ensuring that the interests of a party are effectively promoted and protected.
RES refers to the property underlying a trust, which is the subject matter that the trustee holds in fiduciary capacity for the beneficiaries.
A Stockholders' Derivative Action is a lawsuit filed by shareholders on behalf of a corporation. Such a suit aims to address grievances suffered primarily by the corporation, typically due to breaches of fiduciary duty by those managing the corporation. It's often the only civil remedy available to a stockholder for such breaches.
A Trust Agreement, also known as a Trust Instrument, is a legal document that sets up a trust and outlines the rules that must be followed by the trustee and the beneficiaries.
A comprehensive guide to understanding the nature, administration, and implications of general management in trust operations.
A trustee is an individual or company holding legal title to property for the benefit of one or more beneficiaries, ensuring the property is managed in accordance with the terms of the trust.
