However, Athens had no legal science or single word for “law”, relying as an alternative on the three-way distinction between divine law (thémis), human decree and customized (díkē). Yet Ancient Greek law contained main constitutional innovations within the improvement of democracy. Definitions of law often elevate the query of the extent to which law incorporates morality. John Austin’s utilitarian reply was that law is “instructions, backed by menace of sanctions, from a sovereign, to whom people have a behavior of obedience”.
Strict duties for trustees made their way into company law and have been applied to administrators and chief executive officers. Another example of a trustee’s duty could be to speculate property correctly or sell it. This is very the case for pension funds, crucial type of belief, the place buyers are trustees for folks’s savings till retirement. But trusts may also be set up for charitable functions, well-known examples …
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