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Quistclose trust

noun

Etymology

In reference to the 1968 case of Barclays Bank Ltd v Quistclose Investments Ltd.

Definitions

  1. A trust created where a creditor has lent money to a debtor for a particular purpose. If…

    A trust created where a creditor has lent money to a debtor for a particular purpose. If the debtor uses the money for other purposes, it is held on trust for the creditor. Any inappropriately spent money can then be traced and returned to the creditor.

The neighborhood

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No curated loop yet for Quistclose trust. Loops are being traced one word at a time while the ingestion pipeline matures.

sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA