The Unrepealed General Acts of the Governor General in Council with Chronological Table Notes and an Index. From 1882 to 1884 both Inclusive. Vol IV

trust or the trustee and registered or by the will of the author of the trust Trust of or of the trustee. [...] 6. Subject to the provisions of section 5 a trust is created when the. Creation of author of the trust indicates with reasonable certainty by any words or acts trust' (a) an intention on his part to create thereby a trust (b) the purpose of the trust (c) the beneficiary and (d) the trust-property and (unless the trust is declared by will or the author of the trust is himself to be the truste [...] The trustee is bound to ftlfil the purpose of the trust and to obey the directions of the author of the trust given at the time of its creation except *4 modified by the consent of all the beneficiaries being competent to contract. [...] Explanation.—Unless a contrary intention be expressed the purpose of a trust for the payment of debts shall be deemed to be (a) to pay only the debts of the author of the trust existing and recoverable at the date of the instrument of trust or when such instrument is a will at the date of his death and (b) in the case of debts not bearing interest to make such payment without interest. [...] A trustee is bound to maintaiii and defend all such sliits and (subject to the provisions of the instrument of trust) to take such other steps as regard being had to the nature and amount or value of the trust-property may be reasonably requisite for the preservation of the trust-property and the assertion or protection of the title thereto.