Definition of Trust account
1. Noun. A savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime; afterward the balance is payable to the previously named beneficiary.
Generic synonyms: Trust
Lexicographical Neighbors of Trust Account
Literary usage of Trust account
Below you will find example usage of this term as found in modern and/or classical literature:
1. United States Supreme Court Reports by Lawyers Co-operative Publishing Company, United States Supreme Court (1885)
"... from a customer holding a trust account a cheque drawn on that account, he is not in general bound to inquire whether that cheque was properly drawn. ..."
2. Lawyers' Reports Annotated by Lawyers Co-operative Publishing Company (1905)
"The death of the beneficiary three day» before the trust account was closed is urged a» a reason why this alleged trust should be sustained. ..."
3. Handbook of the Law of Trusts by George Gleason Bogert (1921)
"a check on a trust account in the A. bank is deposited by the trustee in his individual account in the B. bank when such latter account, is overdrawn, ..."
4. The Digest of English Case Law: Containing the Reported Decisions of the by John Mews (1898)
"The trustee had not at the time a trust account, but a private account already overdrawn to a greater amount than the trust fund, by arrangement with the ..."
5. Parliamentary Debates: Senate and House of Representatives by Australia Parliament (1911)
"There is nothing to prevent the Treasurer creating a trust account and putting into it any surplus at his disposal, and spending it as he likes, ..."
6. A Treatise on the Law of Agency: Including Not Only a Discussion of the by Floyd Russell Mechem (1914)
"... holding a trust account, a cheque drawn on that account, he is not in general bound to inquire whether that cheque was properly drawn. ..."
7. The New Zealand Law Reports by New Zealand Council of Law Reporting, New Zealand Court of Appeal, New Zealand Supreme Court, New Zealand Court of Arbitration, New Zealand Court of Review (1896)
"3 Account was known by the appellant bank to be, and was treated as, a trust account- But it is urged that, even if Miles & Co. ..."
8. The Weekly Reporter by Great Britain. Parliament. House of Lords, Great Britain. Privy Council, Great Britain. Supreme Court of Judicature (1897)
"I am asked to say that that amounts to a decision to this effect : that wherever there is an account which, upon the face of it is a trust account, ..."