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Trusts in context
Essay question
"Of all the exploits of Equity the largest and the most important is the invention and development of the Trust. It is an 'institute' of great elasticity and generality; as elastic, as general as contract. This perhaps forms the most distinctive achievement of English lawyers" (F.W.Maitland, "Uses and Trusts" in Equity: A Course of Lectures (revsd. by J. Brunyate) (Cambridge, 1936))
Critically discuss this statement.