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The Economic Structure of Trusts – Towards a Property-based Approach - Oxford Scholarship Online
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The Economic Structure of Trusts: Towards a Property-based Approach

M. W. Lau


This book provides an economic account of why trusts exist and how trust law should be shaped. The trust is a key legal institution in the common law world but it has been neglected by the law and economics community until recently. Borrowing theories and doctrines from corporate law and economics, scholars have variously analysed and described the trust as a tripartite contract, a nexus of contracts, and even a legal entity. These obligational approaches overlook the unique features of trusts for which corporate legal theories have no explanation. Most importantly, they fail to account for th ... More

Keywords: trusts, law and economics, property, corporations, contracts, offshore trusts, funds, trustees, beneficiaries, settlors

Bibliographic Information

Print publication date: 2011 Print ISBN-13: 9780199602407
Published to Oxford Scholarship Online: May 2011 DOI:10.1093/acprof:oso/9780199602407.001.0001


Affiliations are at time of print publication.

M. W. Lau, author
Director, Chinese Estates Holdings Limited, Hong Kong