The elementary of trust

Question 1

What is the difference between a gift and Trust

Question 2

What is difference between Trust and contract

Answer 2

 Although it trust is different from a contract, the difference between the two it’s quite obvious. Chess. Under trust there is a relationship between a settlor and a trustee this doesn’t exist in contract. By virtue of this relationship it was very difficult to breach the terms of trusteeship however chancery has rectified that fault. The difference
1. The Doctrine of Consideration
2. Privity of Contracts
See the case of Soanis v Ashaeel 1893

Question 3

The difference between a trust and debt

Answer 3

If company A loans money to company B for a purpose and that purpose fails the money lent doesn’t just become company B but goes back to company A just like a resulting trust