HELD IN TRUST
\hˈɛld ɪn tɹˈʌst], \hˈɛld ɪn tɹˈʌst], \h_ˈɛ_l_d ɪ_n t_ɹ_ˈʌ_s_t]\
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A term used to describe property held by a person who is not the owner but who is a trustee or an agent.TLD Example: The parties to the contract agreed to have the down payment held in trust by the attorney for the seller until the transaction was completed.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.