Austin Wakeman Scott
Encyclopedia
Austin Wakeman Scott wrote a ten-volume treatise covering many topics of personal trusts
such as the formation and termination of express trusts, resulting and constructive trusts, and the conflicts of interest encountered in the administration of trusts. Many of Professor Scott's dictums for fiduciaries have been incorporated in the Uniform Prudent Investor Act
(UPIA).
Trust law
In common law legal systems, a trust is a relationship whereby property is held by one party for the benefit of another...
such as the formation and termination of express trusts, resulting and constructive trusts, and the conflicts of interest encountered in the administration of trusts. Many of Professor Scott's dictums for fiduciaries have been incorporated in the Uniform Prudent Investor Act
The Prudent Investor Act
The Uniform Prudent Investor Act ', which was adopted in 1992 by the American Law Institute's Third Restatement of the Law of Trusts , reflects a "modern portfolio theory" and "total return" approach to the exercise of fiduciary investment discretion.-Approach:This approach allows fiduciaries to...
(UPIA).