sic itur ad astra

CHAPTER 3  Implied Trusts (Arts. 1447-1457) Article 1447.  The enumeration of the following cases of implied trust  does not exclude others established by the general law of trust,  but the limitation laid down in article 1442 shall be applicable. Concept of implied trust.   Implied trusts are those which, without being express , are deducible from the nature of the transaction as matters of intent , or which are s uperinduced on the transaction  by operation of law , as matters of equity , independently of the particular intention of the parties . Implied trusts are not created voluntarily , but imposed by law or inferred from the conduct or dealings of the parties.  The concept of implied trusts is that from the facts and circumstances of a given case, the existence of a trust relationship is inferred in order to effect the presumed intention of the parties .  Thus, there is no implied trust where a contrary intention is prov...

CHAPTER 2 Express Trusts (Arts. 1443-1446) Article 1443.  No express trusts   concerning an immovable or  any interest therein  may be proved by parol evidence. Evidence to prove express trust.   Burden of proof. The general rule is that the burden of proving the existence of a trust is on the party alleging its existence ; and to discharge this burden, it is generally required that his proof be clear and satisfactory and convincing .  Trust concerns immovable therein. By virtue of Article 1443, a writing is necessary to prove an express trust concerning an immovable or any interest therein .  The writing is required by said article not for validity but for purposes of proof .  Hence, by analogy, this requirement may also be included under the Statute of Frauds. Failure to object to parol evidence.   Like the defense of the Statute of Frauds, the defense that express trusts cannot be proved by parol evidence may be waived , eit...

CHAPTER 1 General Provisions (Arts. 1440-1442) Article 1440.  A person who establishes a trust   is called the trustor ;  one in whom confidence is reposed as regards property   for the benefit of another person   is known as the trustee ; and  the person for whose benefit the trust has been created  is referred to as the beneficiary. Concept of trust.   A trust is the fiduciary relationship between one person having an equitable ownership in property and another owning the legal title to such property , the equitable ownership of the former entitling him to the performance of certain duties and the exercise of certain powers by the latter for the benefit of the former.  It is a legal arrangement where by a person transfers his legal title to property to another to be administered by the latter for the benefit of a third party .  It is a right of property held by one party for the benefit of another.  T...